Despite the upcoming end of lockdown and promise of in-person shopping, online retail sales continued to show strong growth in March, rising by +71.7% Year-on-Year (YoY). That’s according to the latest IMRG Capgemini Online Retail Index, which tracks the online sales performance of over 200 retailers.
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.
Cross border commerce – it’s an age thing
Apr 20, 2021
Baby Boomers and Millennial/Gen Zers are quite different when it comes to cross border shopping. Tommy Kelly, CEO of eShopWorld (ESW) discusses the differences for companies planning global initiatives.
Department store chain Belk thrives during the pandemic aided by ship-from-store capabilities supported by Logistyx Technologies
Apr 20, 2021
US department store Belk thrived as e-commerce orders surged during the pandemic by having ship-from-store order fulfilment facilities already in place across its 291 store locations with the help of parcel shipping software from Logistyx Technologies.
Amazon’s here – so what’s the future for UK supermarkets?
Apr 19, 2021
Amazon has set its sights on the UK supermarket sector. From the Amazon Fresh initiative to its partnership with Morrisons, offering free, next day delivery to Prime customers, the arch disruptor is looking to turn the UK multiple market on its head.
Growth in sales channels causes supply chain issues for half of retailers
Apr 13, 2021
New research by Advanced Supply Chain Group shows that growing retail sales channels causes stock inventory management problems for 53% of retailers. According to the international supply chain business, nine in ten retailers are planning to increase the number of their sales channels following the impact of the pandemic and Brexit.
Goods-to-Person robotisation is key in meeting the new logistics challenges facing the cosmetic industry
Apr 13, 2021
By Hugues Sterlin, Scallog’s Director of Operations.
The cosmetics industry in France is a major driver of the economy. Despite the drop-off in exports caused by the pandemic, the sector achieved total revenues of over €15.7 billion in 2020 and leads the world with a 24% share of the global cosmetics market.
Customer loyalty heavily dependent on ‘last mile’ service
Apr 13, 2021
Consumers are choosing who they shop with depending on the ‘last mile’ service provided, new research has revealed. Long delivery times top the list of frustrations for consumers (50%), followed closely by paying for returns (42%) and limited stock availability (38%).
Online retailer eSpares launches customer video consultations to tap up bricks-and-mortar specialists
Apr 13, 2021
eSpares, the UK online parts store for home appliances, has entered into a new partnership with technology provider ConferWith. The partnership will provide customers with real time advice from experts over live video as they browse online.
Retail Technology Show, the expo to fast forward retail’s revolution, will take place on 26-27 April 2022
Apr 13, 2021
Dynamic and ambitious events business, Nineteen Group, has added Retail Technology Show 2022 to its portfolio.
How retailers can adapt to the new wave of hybrid consumers
Apr 12, 2021
On the 12th of April, retailers in England and Wales will breathe a collective sigh of relief as all non-essential shops hope to open up once again. After a turbulent year, the government’s plan to ease lockdown restrictions promises much-needed stability for retailers. However, the pandemic has led to marked changes in consumer behaviour, which retailers will need to adapt to.
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.
