By Dan Williams, founder and managing director at 100% Group.
With more chain and independent store closures announced every week, it might seem as though high street retailers are losing out to the convenience of online shopping, yet the death of the high street isn’t nigh. In fact the opposite is true – what we’re seeing isn’t a death but rather a re-birth or evolution where the high street needs to adapt to changing buying behaviours.
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.
How are retailers enhancing the in-store experience?
Oct 29, 2019
How do we go about reinvigorating the high street?
Oct 29, 2019
By Matthew Robertson – Co-CEO, NetDespatch.
I regularly track the trends around retail and delivery because here at NetDespatch we work with both carriers and retailers, and it is important for us to understand how the market continues to evolve. As a result, I have been monitoring the ongoing debate, particularly in recent years, around how we reinvigorate the UK high street and get consumers back into town centres.
47% of shoppers need gifting ideas for the Holiday Season – research from Periscope by McKinsey
Oct 29, 2019
Periscope By McKinsey, which offers a suite of Marketing & Sales Analytics Solutions to help companies achieve sustainable revenue growth, has announced the findings of its recent consumer research which examines significant habits and behaviours of consumers in Canada, Germany, the UK and US, as well as highlighting some emerging trends with big implications for retailers this holiday season.
New Research finds the Salesforce economy will create more than $1 trillion in new business revenues and 4.2 million jobs between 2019 and 2024
Oct 29, 2019
Salesforce, the CRM solutions provider, has announced new research from IDC that finds Salesforce and its ecosystem of partners will create 4.2 million new jobs and $1.2 trillion in new business revenues worldwide between 2019 and 2024. The research also finds Salesforce is driving massive gains for its partner ecosystem, which will see $5.80 in gains for every $1 Salesforce makes by 2024.
UK consumers continue to abandon purchases due to a lack of convenient delivery options
Oct 29, 2019
According to new consumer research from Global Freight Solutions (GFS) and IMRG (the UK’s association for online retailers), 45% of consumers are still more likely to abandon their purchase due to a lack of convenient delivery options, not a lack of free options.
N Brown taps Bloomreach AI to fuel digital experiences across all its core brands
Oct 29, 2019
Bloomreach Inc, the Digital Experience Platform company, has been selected by digital retailer N Brown to help to provide an optimised, consistent and seamless customer experience across its core brands JD Williams, Simply Be, Ambrose Wilson and Jacamo.
Schneider Electric solves edge computing challenges with new 6U Wall Mount EcoStruxure Micro Data Center
Oct 22, 2019
Schneider Electric has simplified and aligned its data centre solutions for the new hybrid IT world with the introduction of EcoStruxure Data Center Solutions, unveiled recently at Innovation Summit Barcelona.
Forget about copying Amazon, retailers need to start focusing on ‘what Amazon can’t’
Oct 22, 2019
By Frank Lochbaum, Managing Partner at KPS.
When Simon Russell, director of operational development at John Lewis, used the phrase “what Amazon can’t” (WAC) at the Future Stores event, you could hear murmurs of agreement from the assembled retailers around the room.
Retailers and customers don’t see eye to eye on returns or in-store experiences
Oct 22, 2019
Retailers are not meeting customer expectations, and in many cases are missing on the fundamentals, according to a new 15,800 respondent global consumer study by Oracle Retail.
Brexit, staff costs and inaccurate data impacting profitability in wholesale businesses
Oct 22, 2019
A new survey commissioned by OGL Computer, among 255 managers of wholesalers and distributors in the UK, reveals that 88% are using multiple software systems, and seem unable to break away from manual processes in managing business operations despite over a quarter (27%) citing those manual processes to be ineffective in managing business operations. Nearly all (98%) of respondents still used some level of manual processes.
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.
