Welcome to the October 2020 edition of Manufacturing & Logistics IT. In this edition we feature a Special Technology Report looking in depth at the latest developments in the world of Automatic Identification & Data Capture and Mobile Computing.
Also included is an exclusive interview with Rob Goossens, CEO at Technologies Added...Plus regular updates on a number of other key technology and personnel-related areas.
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.
Manufacturing & Logistics IT - October 2020 edition
Oct 28, 2020
Retail: How to harness automation to strengthen competition
Oct 27, 2020
By Stephen Burnley, Client Delivery Manager at technology and engineering company, Expleo.
It’s a no brainer that technology is central to retaining a competitive edge for most businesses today.
PayDelay: Pandemic signals the end of the payday splurge, with money-conscious Brits now buying big at the end of each month
Oct 27, 2020
Openpay, the UK’s latest next-generation, interest-free payment solution, has found that due to the pandemic, Brits now shun the payday treat - with nearly half (46%) now waiting until the end of the month to treat themselves after assessing finances. Almost two fifths (38%) said that the pandemic had permanently changed their outlook on spending.
Global supply chain activity surges to pre-pandemic levels In Q3, but cash crunch leaves suppliers vulnerable
Oct 27, 2020
The number of purchase orders and invoices exchanged across global supply chains rose by 15% in Q3 after falling by a similar margin in Q2, the latest Index of Global Trade Health from Tradeshift can reveal.
Retail expert Bill Gimsey helps to revitalise North Notts high streets
Oct 27, 2020
With the high streets of North Nottinghamshire feeling the pressure of reduced foot fall, both pre and post Covid-19, the team at North Notts BID has instigated a partnership with Bassetlaw District Council to take a fresh and creative look at revitalising Worksop and Retford town centres to support both national and independent retailers.
Online sales growth begins to normalise despite reimposed restrictions
Oct 21, 2020
As lockdown restrictions were reintroduced throughout September, online sales returned to patterns that would be expected this time of year.
Retail’s covid response: 71% of frontline retail workers say employers have taken the right actions to keep colleagues and customers safe
Oct 21, 2020
Retailers’ efforts to keep employees and customers safe during the covid-19 pandemic have been recognised by frontline retail workers, the latest research from Axonify, the modern training and communication solution for frontline associates, reveals.
New Town and City Gift Cards site aims to revive UK high streets
Oct 20, 2020
Loyalty and gift card provider Miconex has developed a new Town and City Gift Cards website that features over 50 of its gift card programmes in England, Scotland, Wales and Ireland.
Enough is enough: A third of customers would ditch companies after just one poor experience, research shows
Oct 20, 2020
A third of UK customers would ditch companies after just one poor experience, according to research conducted by analytics company, SAS.
Nearly a half of consumers will turn to Amazon for their Christmas shopping this year
Oct 19, 2020
With consumer behaviour drastically changing as a result of Covid-19, just under a half of UK shoppers (44%) plan to complete their Christmas shopping online this year – with a majority (42%) looking to turn to Amazon first. This is according to newly released findings from Episerver, the customer-centric digital experience company.
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.
