ConsenSys, in partnership with LVMH and Microsoft, has announced AURA, a platform that aims to serve the entire luxury industry with powerful product tracking and tracing services, based on Ethereum blockchain technology and utilising Microsoft Azure.
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.
LVMH, ConsenSys and Microsoft announce AURA, a consortium to power the luxury industry with blockchain technology
May 20, 2019
BI software firm scoops US retail order
May 20, 2019
Analytics and business intelligence (BI) software business Panintelligence has won a global retail technology customer with a multi-million pound turnover which will see its software used across thousands of stores of leading retail chains in the UK and US via Coventry-based software vendor PCMS.
ParcelHero says 24-hour round-the-clock deliveries are the future of e-commerce
May 14, 2019
Amazon’s $800 million investment in free next-day deliveries may be making headlines, but the home delivery expert ParelHero says same-day 24/7 deliveries are the future of e-commerce.
Brick-and-mortar retail in the EU: Highest 2019 growth in Romania and Lithuania
May 14, 2019
GfK anticipates nominal turnover growth of 2.0 percent in 2019 for brick-and-mortar retail in the 27 EU nations (excludes the UK). Romania (+7.0 percent) and Lithuania (+5.9 percent) are expected to have the highest growth rates. Growth is also forecasted for Spain (+2.4 percent) and France (+2.8 percent). These are some of the results from GfK's recently released 2019 European retail analysis, which is available free of charge.
Starting at the source: achieving a sustainable supply chain
May 14, 2019
By Alan Gunner, Business Development Director, Adjuno.
With the impact of our consumer society increasingly influencing purchasing behaviour, it is clear that there has been a shift in the need for sustainable supply chains.
Oracle Cloud is in Fashion for Global Retailer Gap Inc.
May 07, 2019
Following the success of Oracle’s Retail Cloud at INTERMIX, Banana Republic is the latest Gap Inc. brand to go live on the solutions. Banana Republic is a global apparel and accessories brand available online and in over 600 company-operated and franchise retail locations worldwide.
UK SMEs expect not to get what they want from Brexit process
May 07, 2019
UK SME business owners have voiced their concern that what they want and what they are going to get from the Brexit process is going to be very different, according to the latest data from Close Brothers Asset Finance.
Beating the pack: How manufacturers can win in the IoT revolution
May 07, 2019
By Alex Guillen, Go-To-Market Manager, Insight UK.
It’s staggering to think that this year more consumer devices will be sold than there are people on earth – and, as time marches on, the democratisation of the Internet of Things (IoT) means in a few years virtually all of the devices sold will be internet connected.
Commissioned study reveals digital maturity in procurement is lagging behind perceived progress
May 07, 2019
Ivalua, provider of global spend management cloud solutions, has announced the findings of a worldwide survey of supply chain, procurement and finance business leaders, on the status of their digital transformations, the obstacles encountered and keys to success.
UK hit by more than 1,000 shoplifting incidents every day
Apr 30, 2019
The UK retail industry suffered from an average of 1,035 reported incidents of shoplifting every day in 2018, according to the latest analysis of UK Police data by loss prevention solutions provider, Checkpoint Systems.
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.
