Analysing the annual revenue of the UK retailers with the fastest profit growth reveals a total potential recovery of £7.232 million each year as a result of refusing cash payments.
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.
Record-breaking cyber monday sales: Capgemini comment
Dec 03, 2019
Adobe Analytics said Cyber Monday online sales would hit a record-breaking $9.4 billion in the US, climbing 18.9% from 2018. Adobe also found that Black Friday was a record breaker in terms of sales. For the UK, it has been a similar story – with VoucherCodes predicting that the UK would spend £2.53bn on Black Friday, a 3.4% increase on 2018.
Optiseller helps online auto and motorcycle parts retailers get their data into gear
Dec 03, 2019
A key issue for sellers of automotive parts and accessories is ensuring that the parts being sold contain the correct product data and include which makes and models of vehicle they are compatible with. With millions of parts in circulation, managing this data can be a daunting task. A new partnership between leading ecommerce software developer Optiseller, and TecDoc catalogue owner TecAlliance, offers a cost-effective and convenient solution that makes it much easier.
Uncertainty continues to impact supply chain risk, finds Dun & Bradstreet and Cranfield University
Dec 03, 2019
The ongoing uncertainty around Brexit is encouraging many manufacturers and retailers to consider other supplier locations in low cost, higher risk countries to avoid possible trade barriers. The latest analysis in the Global Supply Chain Risk Report, produced quarterly by Cranfield University and Dun & Bradstreet, found marked increases in Supplier Criticality (up 2%) and Global Sourcing Risk (up 4.8%) in Q3 2019.
Huge numbers of consumers would wait longer for goods if delivered ‘more sustainably’ - survey
Dec 03, 2019
A convenience trends survey commissioned by leading International branding and customer experience agency I-AM has revealed that almost three-quarters of consumers (74%) would be happy to wait longer for goods if the delivery method was more sustainable.
LivePerson debuts SocialConnect and EmailConnect to help brands manage all digital customer interactions in one place
Dec 03, 2019
LivePerson, Inc. has launched SocialConnect and EmailConnect, bringing social media and email into the LiveEngage platform. This debut gives brands the ability to easily manage customer conversations regardless of the channels where they occur – all in one place.
Chainway Releases High-performance Handheld Computer C66 and C61
Nov 26, 2019
Chainway has announced the launch of the newly upgraded 5.5-inch large screen handheld computer C66 and the handheld computer C61 with keypad. Both devices deliver excellent system performance, and can be flexibly equipped with a range of optional data collection functions to fulfill applications in various industries such as retail, logistics and so forth.
Co-op receives Corporate Ambassador Award
Nov 26, 2019
Co-op has received the Corporate Brand Ambassador Award at the 2019 Shining Stars Ball for its enthusiastic and consistent support of Girls Out Loud, a social enterprise which has raised the aspirations of over 7,000 teenage girls and helped them to build confidence, self-belief and resilience.
nCipher Security survey and tips regarding Black Friday/Cyber Monday security
Nov 26, 2019
Peter Carlisle, vice president of nCipher Security, looks at how consumers can keep themselves safe during this year's Black Friday/Cyber Monday deals.
How to hire, develop, and inspire Gen Z: A study from The Workforce Institute at Kronos
Nov 26, 2019
The Workforce Institute at Kronos Incorporated has announced the final segment of a global study examining the attitudes of Generation Z1– teenagers and early 20-somethings – in the workplace to reveal how employers worldwide can most effectively attract, develop, motivate, and retain talent within the next next-generation workforce.
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.
