The world as we once knew it has transformed and consumers are experiencing rapid changes to the way they live, work and shop. To examine these changes, CommerceHub surveyed more than 1,500 consumers of various age groups to gauge consumer confidence and identify changing shopping patterns amid COVID-19 disruptions.
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.
COVID-19 Shopping and Delivery Trends: a diversified supply chain is key to survival and future growth
May 19, 2020
Blue Yonder research reveals dramatic shift in shoppers’ behaviour since COVID-19
May 19, 2020
New research from Blue Yonder highlights how shopping behaviour has changed globally since the COVID-19 pandemic started. Blue Yonder surveyed 6,000 European adult consumers in April and 1,000 US adult consumers in both March and April.
Connecting the supply chain blocks with WMS
May 18, 2020
What has struck me most about COVID-19 so far is the rapid business response to the crisis. Brands are switching up their game plan and capitalising on the e-commerce surge by going direct to consumer.
Store worker deaths show that retailers reopening must focus on staff safety, says GlobalData
May 13, 2020
The ONS has reported that men working as sales and retail assistants were found to have raised rates of death involving COVID-19.
A communication plan of action
May 13, 2020
The ongoing crisis has undoubtedly presented considerable challenges for the retail sector, yet for those organisations that are able to be agile and adapt in these challenging times there is an opportunity to prosper.
Top tips for updating your eCommerce platform
May 13, 2020
As the news that the UK government plans to begin re-opening some retail stores in June, many retailers were last night faced with the reality of another month of tough trading conditions.
But with this in mind, retailers have been, and continue to look at investing in and ramping up their online operations to ensure they have an effective platform that drives sales.
No time for picking errors
May 12, 2020
One of the biggest challenges faced by successful e-commerce operations stepping up to their first fulfilment centre will be minimising pick errors.
eCommerce revenues rise 20% week-on-week, new data from the BounceX Covid-19 Retail Pulse reveals
May 12, 2020
Signs of the green shoots of recovery for retailers were revealed in the latest data from the Covid-19 Retail Pulse from BounceX (soon to be Wunderkind), with week-on-week rises in website revenue, site visits and conversions.
COVID-19 has brought cloud services to the forefront, says GlobalData
May 11, 2020
An unplanned, widespread move to home-working would have brought businesses to a grinding halt had large investments in cloud computing not been made over the past ten years, says GlobalData, the data and analytics company.
Getting retailers ready for business post-lockdown
May 11, 2020
The retail sector is in a state of flux. Whilst eCommerce sales might still be surpassing all expectations, many retail stores are still closed, awaiting Government guidance as to when they might be able to open again.
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.
