Kevin Brundish, CEO of AMTE Power, commenting on the need for a strong, onshore supply chain in the face of global uncertainty.
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.
Moving applications to the cloud? These lessons learned from successful DRaaS deployments can help
Apr 22, 2020
Disaster Recovery-as-a-Service (DRaaS) is often the first step organisations take on the path to cloud adoption. It is a flexible, cost-effective way to deliver essential DR capability without all the CAPEX costs and pains of managing a physical DR site.
Travel website founder pools team resources to support local businesses with innovative digital voucher scheme
Apr 21, 2020
Founder of much-lauded familytraveller.com, Andrew Dent, today announces the launch of a not-for-profit website aimed at helping smaller local businesses to survive the enforced Covid-19 lockdown. Amidst widespread economic downturn, Dent has pooled resources with industry contacts to provide a vital route-to-cashflow for local enterprises.
Mates in Mind calls on employers to act now to support long-term mental wellbeing during pandemic
Apr 21, 2020
Following the release of data exploring the significant impact that the COVID-19 pandemic is having on the mental health of the public and calls from experts and charities to research the long-term impact of the crisis.
Global fashion retailer ramps up e-commerce strategy following tech tie-up
Apr 20, 2020
Global apparel and lingerie retailer Huber is set to significantly grow its £145million revenue as part of a new three-year e-commerce strategy.
Top tips when making an application for the Government’s Job Retention Scheme and a warning to get it right
Apr 20, 2020
HM Revenue & Customs (‘HMRC’) opened taking Job Retention Scheme (‘JRS’) applications at 8am today (Monday) but employers must make sure that their claims are correct and are accurate - those that don’t risk being seen as fraudulent, say London tax and advisory firm Blick Rothenberg
Fluent Commerce joins commercetools software marketplace to support omnichannel retail
Apr 20, 2020
Fluent Commerce, a provider of Fluent Order Management software, has announced a global partnership with commercetools – the headless platform for B2B and B2C commerce.
British retailers urged to prepare for growth in the Chinese e-commerce market post Coronavirus
Apr 20, 2020
Digital commerce firm JGOO is urging more British retailers to prepare to target the Chinese market, as it believes China could enjoy strong economic growth following the news that it believes it has passed the peak of the coronavirus epidemic.
With fast-food visits down globally by 50%, why does maintaining employee relations matter, asks GlobalData
Apr 15, 2020
Frontline workers of essential foodservice operators in the US have received minimal ‘reward schemes’ for attending work amid the COVID-19 outbreak. These companies should be wary of what effects misjudgments like these could mean, says GlobalData.
Examining the Different Management Positions in the Retail Industry
Apr 14, 2020
The retail industry is one that can often get a bad reputation. Let’s face it, working in a customer service based industry isn’t always easy, as it can be difficult to keep customers happy and satisfied.
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.
