By Todd Simms, VP, Industry Strategy, Manufacturing at FourKites.
Business leaders face mounting pressure from consumers, investors and regulators to commit to and achieve Environmental, Social and Governance (ESG) goals.
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.
Supply chain sustainability: Why digitisation is the starting point of your journey
Jul 03, 2023
ShipStation adds DHL Parcel UK to its carrier services platform
Jun 28, 2023
ShipStation, the cloud-based ecommerce shipping solution, has announced that DHL Parcel UK is now live on its carrier services platform.
Food inflation remains at 18.4%: supermarkets need to partner with supply chains to bring it down, say experts
Jun 26, 2023
With food inflation in the UK remaining stubbornly high at 18.4%, supermarkets need to invest more strategically in their supply chains to bring it down, says international procurement and supply chain management consultancy INVERTO, part of Boston Consulting Group.
IoT in supply chain market is likely to witness a worth of US$ 41.8 billion, rising at a CAGR of 12.9% from 2023 to 2033 – Future Market Insights
Jun 25, 2023
The global IoT in the supply chain market is projected to be worth US$ 41.8 billion by 2033. It's expected to be worth more than US$ 12.4 billion by 2023. The global market is anticipated to expand at a CAGR of 12.9% from 2023 to 2033.
ShipEngine adds 24 carriers to UK platform as it continues to bolster European growth
Jun 22, 2023
ShipEngine, a leading multi-channel, multi-carrier API platform, has added 24 carriers to its shipping platform within a year of launching in the UK market.
Retail supply chain leaders prioritising sustainability
Jun 20, 2023
New research from DHL Supply Chain and The Retail Hive reveals that retail supply chain leaders are facing challenges when it comes to understanding and achieving improved sustainability practices in the supply chain.
New LYDIA Voice Demo App includes unique 100% voice control and multilanguage recognition features
Jun 20, 2023
The advantages of 100% voice-controlled picking processes can now be tried out on any Android smartphone with the release of a new, expanded version of the LYDIA Voice Demo App, now available free-of-charge from the Google Play store.
Lovisa deploys Infor WMS
Jun 19, 2023
Infor, the industry cloud company, has announced that Lovisa, the fashion-forward jewellery brand, has made a strategic move in its global operations by implementing Infor Warehouse Management System (WMS) at a new facility in Poland. With the support of Infor partner SNS, a leading provider of supply chain consultancy and software implementation, Lovisa has taken a significant step forward in improving supply chain operations and delivering exceptional customer service. The project went live in March 2023, marking a major milestone in Lovisa's journey towards enhancing its global presence.
New industry report reveals huge gulf between retailers and consumers over delivery options
Jun 15, 2023
A new industry report has revealed a lack of delivery options is impacting online retailers financially and failing to meet customer expectations.
Battling Basket Abandonment - a new whitepaper - has shown retailers to be ‘out-of-touch’ when it comes to meeting consumer demands with 83% of retailers believing they offer a wide range of delivery options yet just 48% consumers agree with this
Auctane expands portfolio through acquisition of the Return Rabbit business
Jun 12, 2023
Auctane, the global delivery experience company that operates trusted brands such as Metapack, ShipStation, Packlink, ShipEngine, Stamps.com, ShippingEasy, ShipWorks, and Endicia, has acquired the assets of Return Rabbit, a returns management platform that helps customers retain revenue through exchanges.
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.
