Convenience is the name of the game in today’s retail landscape and the returns process is an integral part. It can make or break the overall brand experience, and savvy retailers are increasingly viewing it as an opportunity to further engage with customers as it provides additional touchpoints to enhance the overall customer journey.
Retail Supply Chain Software/Management, Retail Management Software, Retail Warehousing
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. 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.
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A new global study by RELEX Solutions reveals that while 57% of retailers and CPG companies plan to invest in predictive and generative AI in the next 3-5 years, AI and machine learning (ML) ranked just fifth in importance for overall technology spend behind enhancing e-commerce capabilities, improving inventory management, demand forecasting, and leveraging data analytics.
Average Brit left waiting almost five days for deliveries
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Following recent unprecedented delivery and parcel disruptions affecting consumers up and down the country, Shipup, the post-purchase expert, has found that the average order delivery is 4.5 days - or 107 hours*, with the quickest UK city almost one day faster than the slowest.
Unleashing the power of cross-border commerce for retailers
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Headlines regarding post Brexit cross-border trading challenges dented businesses’ confidence in their ability to expand successful ecommerce retail operations outside the home market. But with cross-border trade booming globally, is there a risk that UK retailers are missing out?
RFiD Discovery improves inventory management for Brook Taverner with cutting-edge RFID portal solution
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RFiD Discovery, provider of integrated tracking solutions, has implemented its RFID conveyor portal solution at Brook Taverner, Europe’s supplier of stock supported corporate clothing and a leading menswear brand.
Has the era of shopping for electronics in-store come to an end?
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As the sale of Curry’s, one of the UK’s leading appliance retailers, unfolds, many retailers are left wondering – are consumers spearheading the decline of traditional white goods and electronic retail outlets in favour of online shopping?
Tech partnership to ‘transform’ retail and logistics
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Tech duo Shipster and Ordorite have announced a strategic partnership they say can ‘transform’ e-commerce and retail logistics for the furniture and soft furnishings sector.
TrueCommerce delivers global e-invoicing and CTC solution for businesses facing compliance challenges
Apr 29, 2024
TrueCommerce has announced its global e-invoicing and Continuous Transaction Controls (CTC) solution that enables organisations to keep pace with the constantly changing legal requirements across the globe and support compliant electronic invoicing.
Fashion industry's role in plastic pollution - Insights for Earth Day 2024
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By Shingo Tsukamoto, President of online sizing technology specialist, Makip.
Each year, a startling 60% of the 32 billion garments produced globally are dumped into landfills. This is equivalent to 650 clothing items discarded every second.
Manhattan Associates named a Leader in 2024 Gartner Magic Quadrant for Transportation Management Systems for the sixth consecutive year
Apr 24, 2024
Manhattan Active® Transportation Management (TM) also ranks among the three highest ranked vendors in the Level 3 Complexity, Level 4 Complexity and Level 5 Complexity Use Cases in the accompanying Critical Capabilities report.
As supply chains grow in complexity, enterprises are looking to better orchestrate transportation and distribution processes with a unified supply chain execution solution.
Retail Supply Chain Management
Retail supply chain management (RSCM) is the process of managing the flow of products from suppliers to retailers to consumers. It includes all the activities involved in getting products to the right place at the right time, in the right quantity, and at the right cost.
RSCM is an essential part of any retail business, as it can have a significant impact on profitability. By optimizing the supply chain, retailers can reduce costs, improve efficiency, and deliver products to customers more quickly. RSCM also includes a number of other activities, such as inventory management, order fulfillment, and customer service.
There are a number of challenges that retailers face in managing their supply chains. These include:
- Volatile demand: Consumer demand can be unpredictable, which can make it difficult to forecast demand and manage inventory levels.
- Globalization: The increasing globalization of the retail industry means that retailers need to manage their supply chains across multiple countries and cultures.
- Technology: The rapid pace of technological change is impacting the retail supply chain, as retailers need to adopt new technologies to stay ahead of the competition.
The five main components of RSCM are:
- Planning: This involves forecasting demand, developing sourcing strategies, and creating production schedules.
- Procurement: This involves sourcing raw materials, components, and finished goods from suppliers.
- Manufacturing: This involves transforming raw materials into finished goods.
- Warehousing: This involves storing finished goods until they are needed.
- Distribution: This involves transporting finished goods to retailers.