B2B customers are more demanding than ever. With targeted content on the rise, people expect relevant, accurate information to be made available at a moment’s notice. As a result, B2B companies are figuring out innovative ways to streamline their platforms. But where should you start?
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.
SAP launches partner innovation programme to deliver microvertical capabilities with SAP S/4HANA Cloud
Oct 23, 2018
SAP SE has launched an innovation programme for partners to build and go to market with new applications that augment the rich functionality of SAP S/4HANA Cloud. The partner innovation programme is designed for customers in microverticals within priority industries, such as professional services and manufacturing.
UK Research reveals consumers will boycott brands that fail to personalize, but are comfortable with AI in exchange for a better experience
Oct 21, 2018
Poorly-targeted and unrelated marketing materials are driving customers away from their favourite brands, according to new research by AI marketing experts Emarsys.
Edesix teams up with Waitrose to secure new in-home delivery service
Oct 15, 2018
Waitrose & Partners have teamed up with Body Worn Camera experts Edesix to trial its new in-home delivery service which will allow drivers to enter a customer's home while they are out and put their groceries away.
‘Six years to save the Great British high street’
Oct 15, 2018
Retailers failing to engage in digital transformation won’t be operating by 2024, according to 90% of senior decision makers within the retail industry. A quarter believe that retailers steadfastly clinging to more traditional ways of doing business won’t exist three years from now.
Retailers need to outsource digital application to help weather a tough retail climate and improve the bottom line
Oct 15, 2018
By Wayne Munday, Non-Executive Director, Rokk Media.
The Retail climate is proving increasingly challenging for bricks-and-mortar stores of all sizes, with many major brands and familiar high-street names announcing profit warnings, job cuts and even store closures.
69% of consumers believe technology will help build stronger relationships with retailers, says research
Oct 09, 2018
As the general population becomes more and more accustomed to technology pervading every aspect of their daily lives, new research by retail technology expert Conversityhas revealed that almost seven in ten (69 per cent) of consumers – rising to 86 per cent amongst the millennial generation – believe that technology will be a powerful tool in helping retailers build stronger relationships with their customers.
Retailers are losing £1.6bn through delivery failure
Oct 09, 2018
IMRG’s Valuing Home Delivery Review 2018 revealed at eCommerce Expo and Technology for Marketing, now co-located with ad:tech London, shows that UK retailers, delivery partners and customers are losing £1.6bn by getting delivery wrong.
Leaders in Logistics: Post & Parcel Europe 2019
Oct 01, 2018
Comprising two forums, the Innovation in Operations day and the two-day Post & Parcel Europe Summit, this event offers the actionable insight you need to survive in the evolving world of delivery.
Why a flexible not fixed identity is a must For fashion and beauty retailers
Sep 25, 2018
Most brands and businesses are trying to cope with the challenges caused by a digital world that never stands still, none more so than the fashion and beauty industries.
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.
