The massive growth in online shopping has led to a sustained change in the way customers interact with businesses, as they adopt the growing number of communication channels available and expect queries to be answered faster than ever before. According to TelcoSwitch, this has raised the stakes as far as omnichannel capabilities are concerned, and businesses need to adapt quickly.
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.
Customer service has changed fundamentally, so omnichannel must evolve with it, says TelcoSwitch
Oct 04, 2021
Half of retailers paralysed by fear of failure
Oct 04, 2021
A fear of failure is crippling UK retailers, with 53% avoiding making decisions due to the possible consequences. According to research conducted by Opinium and LiveArea, a Merkel Company, business leaders are stuck in a period of stasis, unwilling to innovate or develop new features, products or services because of fear they may fail.
Surviving to thriving: The digital transformation of SMBs
Sep 28, 2021
As a result of the pandemic, SMBs are investing increasingly more time and money in their digital transformation efforts. While some implemented digital capabilities for the first time as a matter of survival, others accelerated their journey to cloud adoption in order to remain nimble in light of ongoing disruption.
Dog-eat-dog: Ren’s Pets selects Emarsys to replace soon-to-be obsolete Bronto
Sep 28, 2021
Omnichannel customer engagement specialist Emarsys has entered into a new partnership with Ren’s Pets, the Canadian pet feed and supply store, as a means of centralising and drastically upscaling its customer outreach to accommodate for drastic growth.
Removal of tax-free shopping takes shine off UK as luxury shopping destination
Sep 28, 2021
The removal of tax-free shopping in the UK is set to impact the travel and purchasing decisions of international shopping tourists after the end of COVID-related travel restrictions, the latest data from ESW (formerly eShopWorld) reveals.
Metapack launches new shipping plans for retailers
Sep 27, 2021
Metapack, the ecommerce delivery technology provider, has launched new shipping plans for retailers around the world. From small and medium businesses to large global enterprises, the new transparent pricing models from Metapack have been launched to help retailers expand their business by providing quick and direct access to its Delivery Manager platform.
Gartner research reveals growth for smart robots in retail
Sep 27, 2021
A recent Gartner report details that ‘Retailers are scaling up smart robots to support flexibility and labour optimisation in physical stores for unified commerce execution’.
Woodland Group launches 360 digital supply chain platform to complement its capabilities, network and owned assets across the globe
Sep 27, 2021
Woodland Group has launched its new digital platform, Woodland Online, delivering full supply chain management from online quoting and booking, to tracking, reporting, WMS and supplier integration, stock and PO management.
Retail events and conferences coming up in the UK
Sep 24, 2021
By Ed Smith, freelance journalist
Retail conferences and events offer a unique opportunity to network and develop your industry knowledge. With many of us working from home and meeting virtually over the past 2 years, upcoming events may be a valuable chance to engage with industry professionals face to face. Let’s take a look at some of the main events upcoming in the UK.
E-commerce shored up crumbling High Street in August, says ParcelHero
Sep 21, 2021
The latest Office for National Statistics (ONS) retail sales figures for August reveal more bad news for the High Street. Despite the end of almost all Covid restrictions, overall sales actually fell in August, down -0.9% in volume against July.
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.
