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.

RSS

Deliveries are the “beating heart” of ecommerce. Here’s how mid-size retailers can keep at peak fitness

1 Deliveries are the “beating heart” of ecommerce. Here’s how mid-size retailers can keep at peak fitness

By Jeroen Terheggen, VP for Mid-Market, nShift.

What happens after the customer clicks “buy” often determines whether they will buy again or go elsewhere. The manner, speed, and experience around deliveries is a key “moment of truth” for the customer relationship.

New research: More than half of online shoppers now buy cross-border, but 92% still worry

2 New research: More than half of online shoppers now buy cross-border, but 92% still worry

New research suggests 52% of US and UK online shoppers have purchased at least one product from an ecommerce store in another country in the last 12 months – and a further 23% have considered it, with the desire for lower prices being the most popular trigger.

86% of IT leaders say data streaming is a priority for IT investment in 2024

3 86% of IT leaders say data streaming is a priority for IT investment in 2024

Confluent, Inc. has unveiled its 2024 Data Streaming Report: Breaking Down the Barriers to Business Agility & Innovation. The report dives into how organisations use data streaming to innovate, accelerate AI adoption, improve business agility, power customer experiences, and overcome data accessibility and management challenges.

Retailers get conversion rates wrong because they fail in people counting

4 Retailers get conversion rates wrong because they fail in people counting

In physical retail stores, one of the most crucial metrics is the visitor-to-buyer conversion rate. The industry magic number is a 25% conversion rate, and achieving this goal requires accurate data.

TecCom e-Invoicing Services achieve ISO 27001 Certification

5 TecCom e-Invoicing Services achieve ISO 27001 Certification

TecAlliance has achieved the ISO/IEC 27001:2022 certification for development, operation and maintenance of SaaS solutions in the area of e-invoicing.

Generix named in the 2024 Gartner Magic Quadrant for Warehouse Management Systems (WMS)

6 Generix named in the 2024 Gartner Magic Quadrant for Warehouse Management Systems (WMS)

Generix has been named in the 2024 Gartner Magic Quadrant for Warehouse Management Systems (WMS) for the sixth consecutive year. Generix has released multiple innovations for its two WMSs including labour planning & forecasting powered by AI and in the areas of predictive and prescriptive analytics.

Cleveron’s newest solution enables DIY and home furnishing retailers to automate their click-and-collect processes

7 Cleveron’s newest solution enables DIY and home furnishing retailers to automate their click-and-collect processes

Cleveron, a click-and-collect automation solutions innovator, is proud to launch a modular outdoor parcel locker, Cleveron 355. The newest solution is specially engineered for DIY and home furnishing retailers, enabling the automated handover of extra-large items.

New poll exposes substantial AI trust gap despite looming technological revolution of society

8 New poll exposes substantial AI trust gap despite looming technological revolution of society

Locale, the UK-based building occupier experience platform, has unveiled insights into the public’s connection with artificial intelligence (AI).

Arvato and Microsoft join forces to develop self-managing warehouse of the future

9 Arvato and Microsoft join forces to develop self-managing warehouse of the future

The research project ‘Moonshot’ aims to implement self-improving processes within the warehouse environment by leveraging generative artificial intelligence (AI), robotics, and cloud computing.

Is your payment stack hampering your business’ growth?

10 Is your payment stack hampering your business’ growth?

By Brian Gaynor, VP of Product & EU CEO, BlueSnap.

It’s only natural for your firm’s requirements to change over time, especially when you have a growing business. Whether you’re expanding into new markets, boosting customer loyalty, or enhancing buyer experience, everything requires your business processes to be agile.

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.

Editorial: +44 (0)1892 536363
Publisher: +44 (0)208 440 0372
Subscribe FREE to the weekly E-newsletter