Retail Supply Chain Management
Retail Supply Chain Management is the process of managing the entire supply chain of retail organisations. The differentiating factor of retail supply chain management from other supply chain management is in the volume of product movement and the fast moving nature of the products of the retail industry.
Retail supply chain is the processes you use to get your products to your consumers. It encompasses everything from obtaining the raw materials to make your product to delivering that product into your shoppers’ hands.
Retail supply chain management therefore is how you optimize those processes to maximize both speed and efficiency. You should deliver your products into a consumer’s hands as fast as you can. However, you don’t want to pay outrageous amounts to do that. You must optimize your processes to be as efficient and affordable as you can manage.
The major factors identified as supply chain structure, inventory control policy, information sharing, customer demand, forecasting method, lead time and review period length. The optimum selection of parameters of these factors improves the supply chain performance.
5 main drivers of supply chain costs