Dave Locke, Field CTO at World Wide Technology, explores how retailers can reassess their 2019 strategies and reduce outgoings in an increasingly challenging environment.
As high street retailers digest the trading losses from the worst Christmas in a decade, 2019 shows no signs of conditions improving with rising business rates, increasing competition and further store closures expected.
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.
Retailers focus on savings to avoid becoming another high street casualty
Feb 05, 2019
Astound Commerce delivers Salesforce Commerce Cloud Cartridge for eShopWorld
Feb 05, 2019
Astound Commerce, the digital commerce agency and systems integrator, has been chosen to develop a pre-built integration or ‘cartridge’ for eShopWorld, the global commerce company that provides a technology platform to brands and retailers that wish to sell online into global markets.
First of its kind technology launched to navigate UK customs
Feb 05, 2019
Manchester-headquartered Customs Connect has launched digital business to transform the way UK importers use technology.
Logility merges the art and science of retail planning with new inspiration board, enhanced analytics and digital asset library
Jan 29, 2019
Logility, Inc., a leading provider of advanced retail planning and collaborative supply chain optimisation solutions, has announced a set of enhanced capabilities available within the Logility Voyager Solutions Retail Optimisation platform.
Five key trends shaping the supply chain in 2019
Jan 29, 2019
2018 was a turbulent year for most industries - logistics and supply chain was no exception. With Brexit, stockpiling, supply chain problems for big brands, and big name retailers closing stores left, right and centre, the next year is undoubtedly going to be as eventful, if not more so.
The Supply Chain Academy and Leeds Trinity University have signed an agreement to deliver Degree Apprenticeship in supply chain management
Jan 29, 2019
25 apprentices, including employees of Uniserve, Henry Shein and Royal Mail have enrolled to study for the Supply Chain Leadership Professional Degree Apprenticeship over the next three years.
AMP Clean Energy places Paragon’s logistics software at heart of customer experience transformation
Jan 29, 2019
AMP Clean Energy, formerly Forest Fuels, a leading biomass wood fuel supplier in the UK, has selected Paragon’s route optimisation software and fleXipod ePOD system to help transform its customer experience.
Rituals Cosmetics selects Logility to help increase visibility and develop a robust omnichannel sales & operations planning process
Jan 23, 2019
Logility, Inc. has announced Rituals Cosmetics has selected Logility Voyager Solutions to set the foundation for its sales & operations planning (S&OP) process, improve service levels and enhance visibility across its omnichannel operations.
Aptos announces major product updates across Singular Retail Suite
Jan 22, 2019
Aptos, Inc., the retail technology solutions provider, has announced significant updates, integrations and innovations across its Singular Retail suite, the end-to-end portfolio of software applications designed exclusively for retailers.
UiPath issues new report on the applications of Robotic Process Automation (RPA) in retail
Jan 22, 2019
Enterprise Robotic Process Automation (RPA) software company UiPath has issued a new report ‘RPA: The Next Step in Retail Automation’.
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.
