The vast majority (74%) of SME do not think new guidelines, forcing large businesses to detail how they pay smaller suppliers, will have an impact on late payments, according to new findings from Crossflow Payments, the supply chain finance platform.
Retail Critical Issues
These Critical issue articles relate to strategy, legislation, technology, best practice and some of the most challenging business topics in the world of retail information technology. The articles in this section have been contributed by leading vendors, industry leaders, research analysts, trade associations and consultancies. This collection of articles cover a variety of topics relating to IT equipment, hardware & software being used in a wide variety of retail and retail supply chain environments across Europe. They look at market trends, improvements in technology and some thought provoking comment on all aspects of optimising and improving efficiencies in store and across retail supply chains.
Mobilising and managing supply chains on the go
May 30, 2017
By Paul Swaddle, Co-Founder, Pocket App.
All types of transportation services, whether trucking, public transport, aircraft, charter & shuttle bus services, railroads or shipping, and the warehouses that support them, are drowning in paperwork.
It’s do or die: retailers must meet customer expectations through collaboration
May 24, 2017
By Matthew Robertson, Co-CEO, NetDespatch.
In the age of instant gratification and personalised experiences, consumers are increasingly expecting more and more from retailers, particularly from the delivery stage in the buying cycle.
GEODIS unveils its 2017 Supply Chain Worldwide survey
May 24, 2017
Through its survey initiative, GEODIS shares the latest insights about Supply Chain challenges that face market stakeholders and shows where they feel potential for improvement can be found.
75% of UK shoppers trust other customers over retail staff
May 24, 2017
Despite retailers' best efforts to improve customer experience and engagement, research by conversational commerce platform iAdvize has found that the majority of UK consumers look to peers when making a purchasing decision, rather than the retailer or brand.
New technologies revolutionising the omni-channel experience
May 24, 2017
A strong omni-channel B2B customer strategy is vital for many manufacturers these days, but it must go beyond simply ensuring the online experience matches the offline experience, to fully support the buyer throughout the entire, often complex sales process – however they choose to buy, says Michiel Schipperus, CEO, Sana Commerce.
Print management software can be a crucial pillar in a sound financial strategy, says Y Soft
May 24, 2017
As organisations deal with a growing need to remain competitive, finance teams are faced with the constantly expanding challenge of effectively managing budgets.
BSI's Global Supply Chain Intelligence report reveals top supply chain risks in 2016
May 24, 2017
In 2016 global supply chains continued to face a range of security, social responsibility, and business continuity risks, with many of these issues provoked by one another. BSI noted multiple incidents that started out as a security, social responsibility, or a business continuity risk that cascaded into other supply chain issues.
Global supply chains increasingly disrupted by both physical and ideological battles
May 24, 2017
Lack of trust and transparency as a result of ideological and military conflicts are undermining the international supply chains linking the world, according to the Q1 2017 CIPS Risk Index, powered by Dun & Bradstreet.
How fast are Retailers adopting RFID?
May 16, 2017
By Dean Frew, CTO and SVP RFID Solutions, SML RFID.
According to recent news, statistics and insight from industry experts about the apparel business and omnichannel retailing, universal RFID adoption is a done deal within the industry. Or is it?
Critical issues:
The retail industry is facing a number of critical issues including:
- The rise of e-commerce: Online shopping has been growing rapidly in recent years, and it is now a major threat to traditional brick-and-mortar retailers. Online shopping has been growing steadily for years, and the COVID-19 pandemic has accelerated this trend. As a result, many brick-and-mortar retailers are struggling to compete.
- The need for omnichannel customer experience: In order to compete with e-commerce retailers, traditional brick-and-mortar stores need to offer a seamless omnichannel customer experience. This means that customers should be able to shop online, in-store, or through a combination of both channels, and have a consistent experience regardless of how they choose to shop.
- The need for data-driven decision making: Retailers need to use data to make better decisions about everything from product assortment to pricing to marketing. This means collecting and analyzing data from a variety of sources, including customer transactions, website traffic, and social media activity.
- The need for a strong workforce: The retail industry is facing a labor shortage, as many retailers are struggling to attract and retain qualified workers. This is a major challenge, as a strong workforce is essential for providing excellent customer service and meeting the demands of the ever-changing retail landscape.
- The need to stay ahead of the competition: The retail industry is constantly evolving, and retailers need to be able to adapt quickly to new trends and technologies. This means being open to change and being willing to invest in new initiatives.
In addition to the challenges mentioned above, the retail industry is also facing a number of other threats, including:
- Cybersecurity threats: The retail industry is a major target for cyberattacks, as retailers collect and store a large amount of customer data. Retailers need to take steps to protect their data from cyberattacks, such as implementing strong security measures and educating employees about cybersecurity threats.
- Regulatory compliance: Retailers need to comply with a variety of regulations, such as those related to data privacy, product safety, and labor laws. Failure to comply with these regulations can result in significant fines and penalties.
- Sustainability: Consumers are increasingly demanding that retailers adopt sustainable practices. Retailers need to find ways to reduce their environmental impact and improve their sustainability practices.
In addition to these critical issues, the retail industry is also facing a number of other challenges, such as:
- The increasing cost of doing business: The cost of rent, labor, and inventory is all rising, making it more difficult for retailers to make a profit.
- The threat of cybercrime: Retailers are increasingly vulnerable to cyberattacks, which can lead to data breaches and financial losses.
- The changing regulatory landscape: Retailers need to stay up-to-date on the latest regulations, which can be complex and time-consuming.
- The growth of artificial intelligence (AI): AI is already being used in the retail industry to automate tasks, personalize the shopping experience, and predict customer behavior. As AI continues to develop, it is likely to have a profound impact on the retail industry.
- The changing demographics of the customer base: The demographics of the global population are changing, and retailers need to adapt their strategies to reach these new customers.
The retail industry is constantly evolving, and retailers need to be prepared to adapt to change in order to survive and thrive. The critical issues discussed above are just a few of the challenges that retailers will face in the years to come. By understanding these challenges and developing effective strategies to address them, retailers can position themselves for success in the future.
