Consumer spending declined 16.3 per cent year-on-year in January – the sharpest decline since May 2020 – as the retail, hospitality and travel sectors felt the full impact of national lockdown measures.
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.
Luxury retail: Why a customer should love your packaging first, and then your product
Feb 15, 2021
More and more, brands are beginning to see the value of their packaging in influencing consumers’ purchasing decisions. But much less often do they understand the true potential of their outer and additional elements in driving brand engagement, increasing loyalty and enhancing the overall customer experience – and it’s by doing the latter, you can really make consumers fall in love with not only your products, but your brand and business too.
80% of businesses say ‘world of work has changed forever’
Feb 15, 2021
Four out of five businesses believe the workplace will never be the same again, according to a new report.
Pandemic drives permanent shift in consumer behaviour
Feb 10, 2021
Online only retailers are snapping up failed high street brands – and shutting the door on physical retail. But while customers have moved online, there are still opportunities for traditional retailers – with the right approach and expertise.
James Hyde, CEO of James and James Fulfilment, explains how retailers can use outsourced fulfilment, delivery and returns as part of a multi-channel approach that gives customers what they want at home and in store.
Are we at risk of food fraud? Supply chains under strain in Covid-19
Feb 08, 2021
Liam Fassam, Head of School of Supply Chain and Logistics Management in Arden University’s Faculty of Business, shares his thoughts on how supply-chain management became the unsung hero of the Covid-19 pandemic response.
95% of FMCG retailers say inventory optimisation is top priority for 2021
Feb 08, 2021
Symphony RetailAI, the provider of integrated AI-enabled marketing, merchandising and supply chain solutions for FMCG retailers and manufacturers, has announced findings from its Category Planning & Assortment Optimisation Executive Survey, conducted in partnership with Incisiv.
AI can help retailers manage returns from the UK to Europe post-Brexit
Feb 03, 2021
By Sean Sherwin-Smith, General Manager for Post Purchase, HelloDone.
Against the odds, the UK secured a Brexit deal in the final days of the transition period with the European Union. Billed as a Christmas present to the nation, you might expect a rosy outlook for cross-border sales in 2021.
Supermarkets, the unsung heroes
Feb 02, 2021
Of all the many seismic changes that 2020 has precipitated, one that may have gone under the radar of most people is the impact of the pandemic on perceptions of the UK supermarket sector.
Research reveals online shopping brings significant sustainability benefits
Feb 02, 2021
A global research study has revealed that online shopping brings clear sustainability benefits and that urban logistics facilities, like those needed to serve dense populations such a London, could dramatically reduce transportation-related carbon emissions.
EDEKA relies on automation solution from Cimcorp
Jan 29, 2021
Edeka Rhein-Ruhr is equipping its new distribution center, located in Oberhausen-Waldteich, with modern food storage logistics from Cimcorp. Being part of Germany’s largest supermarket chain, Edeka's regional Rhein-Ruhr business is investing in the largest construction project in the company’s history.
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.
