With retailers removing best-before dates to reduce food waste, UK consumers still want supermarkets to offer discounts on goods nearing expiry, according to the latest data from Retail Insight, provider of store operations execution software.
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.
Consumer confidence is up despite economic slowdown
Mar 12, 2024
Despite the economic slowdown, consumer confidence is up on mid-2023 levels due to rising wages and consumers' adaptation to constant upheaval, including the impact of COVID-19 and the cost of living crisis.
B2B web stores are driving buyers away, according to new survey
Mar 11, 2024
B2B buyers want to keep shopping online, but B2B ecommerce capabilities are not keeping up with the complex needs of B2B buyers. A recent Sapio Research survey of 1,000 B2B buyers commissioned by Sana Commerce found a surprisingly high rate of errors for B2B online orders, and B2B buyers getting frustrated by inaccurate, impersonal user experiences on B2B web stores.
Retail Outsourcing Philippines: Harnessing Cutting-Edge Tech to Elevate CX, Boost Efficiencies, and Slash Costs
Mar 07, 2024
By Megan Jones, freelance writer.
In the dynamic realm of retail outsourcing to the Philippines, achieving a balance between delivering superior customer experiences (CX), enhancing operational efficiencies, and managing costs effectively is the holy grail for retailers.
Aramex UK looks to strengthen position in e-commerce market as sector tipped for further growth
Mar 06, 2024
Aramex UK, the global logistics provider catering for SMEs and e-commerce brands, is poising itself for increase demand for its services this year as the sector gears up for further growth.
Co-op teams-up with Uber Direct to ‘deliver’ continued ‘quick commerce’ growth via the convenience retailer’s own online shop
Mar 06, 2024
Co-op has expanded access to its own online shop, accessed via the Co-op app, through a new partnership with Uber Direct, Uber’s white-label delivery solution.
Navigating e-commerce growth: Choosing the tight tech stack beyond ERP
Mar 06, 2024
Selecting the right technologies plays a pivotal role in facilitating connectivity, driving efficiencies, and ensuring seamless operations as businesses scale and become more complex. A key consideration for many large-scale enterprises is the adoption of an Enterprise Resource Planning (ERP) system.
Moody's comment on blocked EU supply chain law & global implications
Mar 05, 2024
Earlier this week, EU countries blocked a proposed law requiring large companies to check if their supply chains use forced labour or cause environmental damage.
Twin channel sortation solution for leading Japanese fashion retailer
Mar 05, 2024
United Arrows, one of Japan’s leading fashion retail brands, has seen a significant increase in the efficiency of the order sortation process at its Tokyo distribution hub following the introduction of a mobile robot-based sorting system supplied and installed by LiBiao Robotics.
Closing the loop on AI point solutions to deliver context and visibility
Mar 05, 2024
By Stephen Amstutz, Head of Strategy and Innovation, Xalient.
Today most organisations are thinking about or deploying AI and, in effect, trying it out. This is supported by Gartner, which states that approximately 80% of enterprises will have used generative artificial intelligence (GenAI) application programming interfaces (APIs) or models by 2026.
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.
