Using store data to uncover micro-seasonal trends and accurately align supply with demand, is key to the future success of big box stores in the UK, a new report has concluded.
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.
Research sheds light on how big box stores can gain competitive edge in the age of 'Micro Seasons'
Mar 23, 2020
Making the most of available data
Mar 23, 2020
From onboard sensors monitoring the temperature inside a refrigerated container to GPS speed or location monitoring, access to real-time data has become a vital management tool for the tech-savvy fleet manager. But are they making the most of the available data?
Businesses is blooming for Flowervision (Bristol) Ltd thanks to voice-enabled scanning solution from BEC
Mar 18, 2020
Supplying florists on a daily basis from Cornwall to Worcester, Flowervision (Bristol) Ltd is an independent wholesaler of high-quality fresh cut flowers and plants as well as a vast range of sundries.
Coronavirus: Home shoppers should select an outside delivery/pick up point now, says ParcelHero
Mar 18, 2020
As social distancing measures ramp up, home shoppers should select a convenient drop off location such as a porch, garage or shed, make sure all delivery companies know about it and include it on all delivery instructions, urges ParcelHero. That way contact between delivery drivers and customers is kept to a minimum.
Oracle adds clarity and colour to the De Beers in-store experience
Mar 17, 2020
Luxury retailer De Beers Jewellers is adopting modern Oracle Xstore technology to enhance its customers’ shopping experience. The company prides itself on offering exquisite gifts and peerless diamonds for life’s key moments.
42% of consumers fear brands’ censorship of online reviews is endangering free speech
Mar 17, 2020
A study from Trustpilot, has revealed an alarming distrust among UK consumers when it comes to brands removing or censoring legitimate consumer reviews across the internet, with four-in-ten (42%) saying they are very concerned about their freedom of speech.
Atheon Analytics to supply SKUtrak platform to Morrisons so it can provide operational data to suppliers
Mar 17, 2020
Atheon Analytics is to supply its SKUtrak platform to Morrisons so it can share more operational data with suppliers. The new Morrisons Supplier Database, which will utilise SKUtrak will enable suppliers to quickly view and interact with sales and supply chain performance data; helping Morrisons and their suppliers to improve availability and reduce waste.
Symphony RetailAI included in Retail Category Planning evaluation by independent research firm
Mar 17, 2020
Symphony RetailAI, the global provider of integrated AI-enabled marketing, merchandising and supply chain solutions for FMCG retailers and CPG manufacturers, was among the 12 select companies that Forrester invited to participate in The Forrester Wave: Retail Planning, Q1 2020 evaluation.
Covid-19: The front door is now the front line, says ParcelHero
Mar 16, 2020
ParcelHero has forecast a doubling of home deliveries in the event of a UK coronavirus epidemic, as shoppers seek to avoid crowded stores. But it says retailers and their courier partners must do more to ease concerns for both customers and drivers.
Farmdrop give SnapFulfil the green light…
Mar 11, 2020
Sustainable online supermarket Farmdrop has signed up to a three year SaaS (Software as a Service) contract with warehouse management system innovator SnapFulfil.
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.
