By Graham Woods, Managing Director of W3Partnership.
No-one talks about retail in terms of online and offline anymore. The word omnichannel entered and left our parlance with equal speed. Retailers are now focussed on providing customers with the choice, experience and delivery they want, when they want it – regardless of the channel on which any part of the customer journey takes place.
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.
Using the cloud for integration turns marginal into massive gains for retailers
Jan 08, 2019
Gartner mentions FarEye in the Hype Cycle for Multienterprise Solutions, 2018 under the Global Logistics Visibility technology
Jan 08, 2019
FarEye, a technology solution to run eCommerce and supply chain logistics operations has been mentioned as a sample vendor in Gartner’s recent Hype Cycle report for Multienterprise Solutions[1] under the Global Logistics Visibility technology which was published on 13 December 2018.
Meeting the demand - SCM Technology report
Jan 08, 2019
Manufacturing & Logistics IT spoke to a number of key spokespeople from the vendor and analyst communities about recent developments in the world of supply chain management-related software – including those involving mobility, SaaS/Cloud, Big Data and Digital Transformation.
Participants include: Gartner, Panorama Consulting, Aberdeen Group, Cap Gemini, Frost & Sullivan, Access Supply Chain Software, Manhattan Associates, BEC (Systems Integration) Ltd, DynaSys, TIMOCOM, Honeywell.
WiFi SPARK and Blackbox launch real-time Transport Information Portal to give rail passengers instant mobile access to rail information
Jan 08, 2019
WiFi SPARK and Blackbox Ltd are set to launch a real-time Transport Information Portal to the rail market via the SPARK Platform.
Carrefour launches world’s first sail thru supermarket, serving yacht passengers, jet-skiers and beach-goers in Dubai
Jan 08, 2019
Majid Al Futtaim, the shopping mall, communities, retail and leisure company across the Middle East, Africa and Asia, has unveiled ‘Carrefour Bites and More by the Shore’, claimed to be the world’s first sail thru supermarket.
John Lewis & Partners targets greater store efficiencies with Paragon
Dec 21, 2018
John Lewis & Partners has implemented Paragon’s Live Management software to increase the efficiency of its nationwide operation.
Snapfulfil puts retailer on target for accurate fulfilment
Dec 18, 2018
A leading sports equipment retailer is on target for one hundred percent accuracy following the implementation of a new warehouse management system (WMS) from Snapfulfil. Over the past eight years Merlin Archery has rapidly expanded to become the country’s number one online retailer of archery equipment.
Retailers moved from AI hype to reality in 2018, but are yet to seize opportunities across functions
Dec 18, 2018
A new study from the Capgemini Research Institute has dispelled some of the mystique around AI’s value to retail businesses and revealed a path to tangible growth opportunities.
Bringing Britain’s once bustling highstreets back into the digital fore
Dec 18, 2018
It’s no secret, the festive shopping frenzy is in full swing! Retailers are still competing to offer good deals and a bargain on the high street, following a 12% drop in the value of Black Friday sales this year compared to 2017
Parcel senders must face up to their Christmas duties
Dec 18, 2018
The international parcel delivery comparison site ParcelHero is warning that there are hidden costs on Christmas gifts sent and received from outside the European Union (EU). It’s revealed its top Customs hacks that will stop Brits and their overseas friends and relations having to pay unexpected duties and tariffs on presents this year.
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.
