By Arun Mani, President, Freshworks Europe.
The digital era has brought with it an explosion of communication platforms. From WhatsApp to email, Snapchat to Instagram, live chat to instant messaging; there many ways we can engage with one another and with organisations.
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.
Why AI could be failing your retail customer experience strategy
Feb 17, 2020
How might retailers entice consumers back to stores in 2020?
Feb 15, 2020
As growing numbers of retailers and brands look to entice customers back into store with an array of immersive experiences, Craig Summers, UK Managing Director, Manhattan Associates asks how retailers can reinforce innovative omnichannel experiences with the quality of in-store associate interaction.
Oracle Cloud a fit for UK digital fashion retailer
Feb 14, 2020
UK Digital Retailer N Brown Group Plc is migrating to the cloud and extending its partnership with Oracle.
Septentrio launches an online shop offering high-accuracy GNSS receiver modules
Feb 13, 2020
Septentrio’s new web shop offers direct access to mosaicTM multi-frequency GNSS receiver module. Customers can purchase the mosaicTM development kit quickly and easily to evaluate this unique module.
VisionDirect eyes up more savings from D2C model
Feb 12, 2020
A leading European online contact lenses supplier is offering savings of up to 45% on major high street opticians, due in big part to the company’s ‘direct to consumer’ (D2C) model.
Superior service relies on a lean infrastructure that enables speedy turnarounds, fast delivery and providing a consistent great customer experience –and integral to VisionDirect success is the SnapFulfil cloud-based warehouse management system (WMS).
Off with their heads: The death of monolithic e-commerce and the rise of a headless, microservice approach
Feb 11, 2020
For over a decade, online retailers have been competing in the Amazon world and, as the saying goes, it’s a jungle out there.
EBI.AI to build the world’s most advanced grocery AI for Coop Sweden
Feb 11, 2020
EBI.AI, one of the most advanced Artificial Intelligence (AI) labs in the UK, has been chosen by Coop Sweden, one of the largest grocery retailers in the country, to build the world’s most advanced grocery retail AI assistant, available to Coop customers in Sweden via apps, web or Google assistant.
Delivery is the new discount: Retailers must wake up to the demand for wider and greener delivery options
Feb 11, 2020
Delivery options can be more valuable than cheaper prices or ultra-fast same-day deliveries to many shoppers, claims ParcelHero. Retailers should work closer with their deliveries partners to ensure they aren’t missing out on £1000s of orders
Under pressure: 78 percent of people feel more pressure from their employer than family when making big decisions
Feb 10, 2020
Business executives in the UK are more anxious about big decisions at work than critical decisions at home that impact their family, according to a new study conducted by Oracle NetSuite.
XPO Logistics Wins Waitrose & Partners Contract for Multi-Service Regional and National Distribution
Feb 07, 2020
XPO Logistics, a leading global provider of transport and logistics solutions, has been selected by Waitrose & Partners to operate two key UK distribution hubs on Waitrose’s Milton Keynes campus.
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.
