PayComplete, the new brand and identity of the cash handling division of SUZOHAPP, has announced its launch. This new brand will invest in what is an Internet of Things (IoT) platform for broader financial transactions, running both on PayComplete’s native devices and others.
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.
Retail employees fight back: Report shows rise In trade union memberships
Jan 19, 2021
The retail industry has seen the highest rise in trade union memberships across the UK, according to new research into the decline of trade unions.
New MERICS China Forecast Survey: Stability and self-reliance in China, entrenched competition with the US and a mixed bag for EU-China relations
Jan 15, 2021
How will Chinese domestic politics evolve in the year of the Chinese Communist Party’s (CCP) 100th anniversary? Which issues are keeping Beijing up at night, and which new trends will define Sino-European relations going forward? To shed some light on these issues, MERICS conducted a survey of some 170 European China experts and roughly 1,000 members of the wider international public in December and early January.
Changing shopping habits due to lockdown love
Jan 15, 2021
Bargain-hunting Brits have been saving cash while spicing up their love lives – with discount codes for adult toys hitting record highs during lockdown.The number of randy shoppers logging on to discount site NetVoucherCodes.co.uk to save cash on adult products was up by almost two thirds in 2020 compared with the previous year, according to new data.
2021 will be about maximising the e-commerce experience
Jan 11, 2021
Warehouse management technology provider, SnapFulfil, is forecasting a new fulfilment year where companies still focused on retail locations and outlets will have to be nimble enough to grow e-commerce operations if they are to survive.
Considering A Business Migration: 5 Crucial Steps to Take
Jan 07, 2021
By James Daniels, freelance writer
Many businesses have made the jump to the cloud in recent years, and even more, are now doing this in 2021 as a result of the pandemic forcing workforces to work from home. This is intelligent as the cloud is now the best way to do business, particularly with so many people working remotely, which can bring a multitude of benefits.
How retailers can boost business in 2021 by building apps using low code tools
Jan 07, 2021
By Malcolm Carroll, Director, BlueFinity.
The COVID-19 pandemic has impacted many sectors with retail especially having felt the repercussions of the lockdowns and Tier restrictions on their footfall and their profits.
Maintaining the retail omnichannel edge in 2021
Jan 06, 2021
By Nate Burke, CEO of Diginius.
It’s that time of year again where we reflect upon the prior year and make informative predictions for the months ahead in order to adjust our business activities and refocus our strategies.
What does the future hold for retailers?
Jan 05, 2021
Shopping habits are changing, and retailers are doing an exceptional job at keeping up and adjusting their business models with the help of technology to meet these ever-changing shifts. With many high streets still struggling but the desire to shop local remaining strong, retailers are looking at a very different future than they would have imagined this time last year.
Flexible antimicrobial surface covering from Alanod protects retail businesses against coronaviruses and bacteria
Jan 05, 2021
Alanod, the manufacturer of specialised coated metal surfaces, has launched MIRO CU. This copper-coated antimicrobial surface covering is designed to protect retail staff and customers against the transmission of bacteria and viruses, including coronaviruses.
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.
