Tax preparation expert and founder of DSR Tax Claims, David Redfern, has issued a warning to online sellers to ensure that their income is correctly declared to HMRC or face penalties for undeclared income.
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.
The growing delivery experience gap: Retailers' fulfilment offers fail to deliver
May 15, 2018
Despite innovation in fulfilment increasingly being identified as a source of competitive advantage, many retailers' delivery offers still fail to meet the demands of customers, a new report by Sorted, the delivery experience company, reveals.
Hackett partners with StoreForce to deliver customer service in style
May 14, 2018
British multi-channel menswear retailer, Hackett, has increased the effectiveness of its shop floor workforce helping to drive up sales thanks to StoreForce's WFM+ (Workforce Management Plus) platform.
Brits spending over £2 billion on average a year on delivery subscriptions
May 14, 2018
British consumers are forking out approximately £2bn every year on delivery subscription services and it shows no signs of slowing as the type of subscriptions on offer continues to grow, alongside their popularity.
Marketers confused over GDPR consent regulations
May 14, 2018
Marketing professionals are increasingly confused about the rules around consent of data subjects under the GDPR, due to become law on 25 May.
Retailers must get sharper on customer engagement to avoid churn, warns Tryzens
May 14, 2018
The latest retail sales figures from the British Retail Consortium (BRC) highlight the pressing need for retailers to focus on making the customer experience more innovative and engaging.
Peak-Ryzex awarded 2018 Ivanti EMEA Supply Chain Partner of the Year
May 08, 2018
Ivanti Supply Chain has presented Peak-Ryzex with the EMEA "Supply Chain Solutions Partner of the Year" award for the second year in a row, at the Retail Business Technology Expo (RBTE) in London.
Iptor and Protelo commence VAR partnership
May 08, 2018
Iptor Supply Chain Systems (Iptor), the supply chain management, planning and logistics software and services provider, has appointed Protelo, Inc. (Protelo) as a Value-Added Reseller (VAR).
Retailers are losing out on over a third of consumers’ planned spend during peak season
May 08, 2018
Peak trading periods offer retailers specific windows of opportunity to improve profitability through well thought out promotions. However, recent research conducted by Sapio Research on behalf of supply chain technology specialists, Zetes reveals that up to 35% of consumers' peak season planned spend is being lost.
Maxoptra launches next generation retail customer service, delivery management & route planning software
May 01, 2018
Maxoptra has released a new version of its cloud-based software that provides an all-in-one solution for customer service, delivery management and route planning for retail delivery operations.
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.
