A recent report by analysts at Retail Economics has predicted that half of all retail purchases will be made online by 2028. In the wake of this, it’s important that high street retailers take steps to remain competitive.
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.
Saving the world from plastic waste comes one step closer
Dec 16, 2019
Finnish startup Sulapac raised an exceptional €15 million to engine its scale-up and internationalisation. The funding enables further development and broadening of its recipe portfolio. The investors include the world’s leading luxury house Chanel and international media houses, all with valuable expertise to accelerate Sulapac’s expansion.
Independent designer fashion retailer Zee & Co grows business with Eurostop retail systems
Dec 16, 2019
Successful family-owned business renowned for bringing designer fashion to the high street streamlines fulfilment in newly expanded warehouse operations with Eurostop solution
Digital natives bust stereotypes as high street stores maintain relevance
Dec 13, 2019
Zendesk, Inc. has announced that more than a third (39%) of British Gen Z consumers shopping with legacy brands would opt to go into a store to speak to staff in person versus using digital communication channels.
Simoldes` just-in-time (JIT) productivity increases significantly with ZetesMedea
Dec 13, 2019
assets/files/images/18_12_19/image Simolde's.jpgThe Simoldes Group produce car door panels for several major international automotive brands. In order to efficiently respond to the demanding requirements of the sector for increased personalisation, they selected ZetesMedea using pick to light (PTL) technology to optimise their just-in-time (JIT) assembly line operations.
71% of workers forced to borrow to pay for Christmas
Dec 13, 2019
The majority of workers resort to borrowing to cover the cost of Christmas. Research from Hastee study finds 71% of workers in the UK and Ireland source additional funds during the festive period and 61% admit Christmas-related financial stress impacts their performance at work.
December 2019 edition of Manufacturing & Logistics IT
Dec 12, 2019
The December 2019 edition of Manufacturing & Logistics IT features a Special Technology Report on Digital Transformation.
For this report, we spoke with experts from the vendor and analyst communities about recent trends and ongoing areas of development within the world of Digital Transformation, and what users can potentially look forward to in the not too distant future.
Made for high speed sorting applications: AV500™, the new imager by Datalogic
Dec 10, 2019
Datalogic introduces the AV500™ imager, an innovative 2D image-based barcode reader developed for sorting applications. The new imager solves high speed applications in retail e-Commerce, postal/parcel sortation and airport baggage handling, covering all conveyor sizes, as well as static reading applications.
Indigo Software expands supply chain consulting team with addition of Fay Shuttleworth
Dec 10, 2019
Indigo Software has expanded its supply chain consulting capabilities with the appointment of Fay Shuttleworth as a Supply Chain Consultant.
How UK businesses can get to grips with rising supply chain risk
Dec 10, 2019
By Alex Saric, smart procurement expert, Ivalua.
UK businesses have never been more dependent on their suppliers to help them deliver goods and services to their customers. Be it retail, manufacturing or financial services, suppliers have a vital role to play when it comes to innovation and meeting customer expectations. However, as supply chains become increasingly global, businesses are potentially exposing themselves to more risk than ever before.
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.
