Lindex has remained ahead of the recent surge in online retail, reporting stable full year results for 20201, thanks in part to the digital-first fashion brand recognising the importance of digital asset management in ensuring smooth communication across different software.
Retail Supply Chain Management (RSCM)
Retail supply chain management (RSCM) is the process of managing the flow of goods and services from the initial production stage to the final customer. RSCM is essential for retailers to ensure that they have the right products in the right place at the right time. It can also help retailers to reduce costs, improve efficiency, and improve customer service.The term Retail is defined as the sale of goods and services from companies or individuals to the end-consumer. Retailers acquire goods from producers and then sell these goods in-store or on-line via the internet. Retail supply chain software can enhance supply chain efficiency and trading partner collaboration by better connecting product information, processes and trading partners.
Fashion company Lindex uses FotoWare to streamline their publication process, meeting market demand
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Signifyd launches its Return Abuse Prevention solution, empowering retailers to provide fast and easy returns without the fear of abuse
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Signifyd, the commerce protection solutions provider, has launched its AI-powered Return Abuse Prevention solution, a customisable system that attacks a $43 billion problem by detecting return abuse and empowering merchants to provide friction-free refunds for valued customers while thwarting those seeking to game the system.
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Wowcher, the ecommerce marketplace that showcases experiences and luxuries at an affordable price, has launched a new retail media platform from CitrusAd, which gives its network of merchants greater control and more involvement in managing and measuring their sponsored ad campaigns.
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eCommerce disruptor OnBuy secures former Chief Customer Officer of Seasalt
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Following recent research that has brought to light that workers in insecure jobs are twice as likely to die of Covid, Aleksandra Flack, a senior employment lawyer at Langleys Solicitors, commented: “This increase in the chance of death for those in insecure roles can be linked to the lack of financial support available to them.
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Research recently released by market intelligence agency, Mintel, shows that the Covid-19-inspired rise in online shopping has driven a boom in demand for UK courier and delivery services.
Retail Supply Chain Management
Retail supply chain management (RSCM) is the process of managing the flow of goods, services, and information from suppliers to retailers to consumers. It includes all the activities involved in getting products from the point of origin to the point of sale, such as:
- Procurement: The process of acquiring raw materials and other inputs needed to produce goods.
- Manufacturing: The process of converting raw materials into finished goods.
- Warehousing: The storage of goods until they are needed.
- Transportation: The movement of goods from one location to another.
- Inventory management: The process of tracking and managing the levels of goods in stock.
- Order fulfillment: The process of filling customer orders.
RSCM is important for retailers because it can help them to improve their efficiency, reduce costs, and improve customer service. By optimizing their supply chains, retailers can ensure that they have the right products in the right place at the right time, which can lead to increased sales and profits.
Here are some of the key components of retail supply chain management:
- Planning: This involves developing a strategy for the supply chain, including setting goals, identifying risks, and developing contingency plans.
- Sourcing: This involves finding and qualifying suppliers, negotiating contracts, and managing supplier relationships.
- Manufacturing: This involves managing the production process, ensuring quality, and meeting delivery deadlines.
- Warehousing: This involves storing goods in a way that minimizes costs and ensures that they are available when needed.
- Transportation: This involves moving goods from one location to another in a timely and cost-effective manner.
- Inventory management: This involves tracking the levels of goods in stock and ensuring that there is enough to meet demand without excessive inventory levels.
- Order fulfillment: This involves receiving customer orders, picking and packing products, and shipping them to customers.
RSCM is a complex and ever-evolving field, but by understanding the key components and best practices, retailers can improve their supply chains and gain a competitive advantage.
Retail companies become involved in supply chain management in order to control product quality, inventory levels, timing, and expenses. Retail supply chain software encompasses warehouse & transportation solutions, inventory control, and possibly additional strategic/planning modules, particularly for the larger/volume-based retailers.
