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.

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1 Deliveroo and Morrisons’ partnership epitomises COVID’s acceleration of shopper habits, says GlobalData

Following the news that Morrisons is partnering with Deliveroo to launch a new rapid delivery scheme from 130 of its stores, Thomas Brereton, Retail Analyst at GlobalData, offers his view on the situation:

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2 When the going gets tough, look to your most loyal customers

Even at the best of times, managing customer churn and cultivating a loyal customer base is a crucial aspect of successfully running any business. Now, amidst widespread panic-buying for basic amenities, the disparity between low churn and high churn sectors becomes more apparent than ever before. To simplify, low churn sectors tend to provide essential products or services where consumers have one exclusive relationship with a single supplier, while higher churn sectors are those where consumers tend to have multiple suppliers – think restaurants and clothing, for example.

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3 Have you been ‘put on pause’ by Amazon?

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In recent weeks Amazon has refocused its shipping efforts to essential items only - side-lining thousands of sellers who relied on the retail giant to fulfil and ship their orders.

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4 PayPoint secures full ownership of Collect+ parcel service

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Two thirds of ‘Retail Winners’ identify real-time supply chain visibility as a strategic focus area

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Symphony RetailAI, the provider of integrated AI-enabled marketing, merchandising and supply chain solutions for FMCG retailers and CPG manufacturers, has announced the findings of a new benchmark report, ‘The Retail Supply Chain: Designing New Ways to Satisfy Demand’.

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7 New Ivalua study shows technology challenges are hindering procurement teams from achieving business objectives

Ivalua, provider of global spend management cloud solutions, has announced the latest findings of a worldwide study of supply chain, procurement and finance business leaders on Effective Procurement Performance Measurement. The study revealed the challenges procurement teams face when it comes to achieving business objectives and the wide and growing gap in performance between advanced and less mature teams.

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8 Bureau Veritas offers advice on business continuity amid coronavirus restrictions

As the UK becomes the latest nation to bring in substantial restrictions over the coronavirus (COVID-19) outbreak, safety and compliance firm Bureau Veritas is highlighting a few simple steps to help firms manage their business continuity plans.

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9 Forter Report: Coronavirus impact on e-commerce and fraud (week of March 22)

The spread of Coronavirus (COVID-19) has completely changed the manner by which people in every country are able to live their lives. As individuals around the world begin to shelter, what does this mean for global commerce trends and how is fraud changing during this period?

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10 First week of home isolation sees mixed online sales results

As the Government’s ‘home isolation’ rules kicked in last week, the immediate impact of the Covid-19 Coronavirus on online consumer shopping habits was laid bare. During the first week of the new pandemic guidelines, online retail sales growth was down -2.2% Year-on-Year (YoY), according to the latest IMRG Capgemini Online Retail Index, which tracks the online sales performance of over 200 retailers.

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.

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