GreyOrange, a global software and mobile robotics provider that leverages artificial intelligence and machine learning to optimize fulfilment operations, has announced patents for technology essential for companies to achieve high-yield omnichannel fulfilment as well as to maximise facility space utilization through multilevel operation capabilities.
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.
GreyOrange patents technology to equip retailers for the future of omnichannel fulfilment
Sep 16, 2020
How BH Cosmetics took its cruelty-free vegan and inclusive products global with the help of Techcloudpro and Avectous
Sep 15, 2020
When the vegan and cruelty-free cosmetics company BH Cosmetics wanted to take its inclusive product line global, they knew the challenge involved in scaling to become a mass supplier globally, at a competitive price, and providing the same customer experience across geographies.
JYSK taps Kӧrber for supply chain megaproject in Hungary
Sep 14, 2020
Kӧrber, the global supply chain technology company from software to materials handling automation, has announced its selection by international Scandinavian home furnishings retailer JYSK.
Back to business: how can luxury retailers bounce back?
Sep 14, 2020
According to recent figures, high street footfall remains subdued in England, with those shoppers who are making it out, more likely to now shop with a purpose. This means that all retailers, especially non-essential retailers like the luxury sector, need to make every effort to be as ‘easy to do business with’ as possible. Craig Summers, UK Managing Director, Manhattan Associates, explores how this can be achieved.
E-pharma set to revolutionise drug market access in India as COVID-19 drives e-commerce growth, says GlobalData
Sep 09, 2020
The COVID-19 induced lockdown resulted in an unprecedented rise in e-commerce transactions across India. In line with this, e-pharma sector also witnessed growth despite regulatory challenges. Against this backdrop, e-pharma space is all set to revolutionise drug market access in the country, says GlobalData, a leading data and analytics company.
Uncertain times call for certainty in your supply chain
Sep 08, 2020
In today’s uncertain environment, there are more factors than ever before that organisations need to consider when managing risk in their supply chains. Whether it’s mitigating the impact of COVID-19, the long-term effects of Brexit or the effects of global tariff changes, organisations need to have contingency plans in place.
Supply chain resilience demands flexible space strategies
Sep 08, 2020
In normal times, manufacturers and retailers would now be setting up the supply, warehousing and transport contracts to ensure the resilience of their supply and distribution chains against a series of ‘known unknowns’. A new Premier League season, Black Friday/Cyber Monday, Christmas, Valentine’s Day, Easter … even if their magnitude is uncertain, the timings, at least, are firmly in the diary.
Managing your business and Supply Chain COVID-19 responsibilities
Sep 07, 2020
When the easing of lockdown measures began in mid-May, many businesses began a journey to assess the Coronavirus risks that applied to their workplaces. To make sure their working environments were COVID Secure, they went on to develop additional physical and procedural measures.
New e-commerce solution takes back control from third-party delivery companies
Sep 07, 2020
Cheerfy, the CRM, loyalty and e-commerce solution dedicated to the hospitality industry, has launched a new product called Cheerfy Shop, to help operators turn their website into an e-commerce site, as well as providing much needed at-table order and payment technology.
Where Will Blockchain Be Most Significant?
Sep 07, 2020
It has become clear over the years that blockchain is a lot bigger than the cryptocurrencies for which it was initially designed. While cryptos have become progressively more relevant (arguably in 2020 in particular), blockchain technology appears to have nearly boundless potential to influence different parts of our world.......
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.
