In the retail businesses supply chain management, SCM is actually the flow of goods and services covering the movement and storage of raw materials.
The movement of work-in-process inventory, and of finished services from the start point to the point of consumption is covered by SCM.
Moreover, supply chain management SCM involves optimizing your tasks to maximize both speed and efficiency. Speed is important because customers appreciate fast service. Increasing speed, however, can cause more costs for every task, so it does improve the efficiency works.
Many companies are using Microsoft Dynamics 365 to manage both speed and efficiency. The tool helps in generating significance by improving efficiencies in distribution centers and optimizing the network, in that way it improves service levels as well.
How are supply chain mechanism changing in this digital era?
What values are you adding to the multi-channel retail business?
Difficulty in retail is growing, driven by consumer demands and competitive pressure. Although goods may be sold through multiple channels, a consumer always expects a unified experience from retailers regardless of the channel or seasonal peaks. Combine your retail domain knowledge with logistics and supply chain expertise and understanding of global best practices to assist clients to draw out a total end-to-end strategy across channels, keeping the consumer expectations in mind.
Are retailers waking up to time-sensitive logistic services?
As e-commerce spreading, time-definite has become the most critical service. While we all know its criticality in shipping to the consumer, in the distribution center to store as well, it has become significant, to avoid stock-out situations. As doubt goes down in transportation, it leads to a reduction in safety stocks across all the nodes in the network, leading to higher efficiencies. Retailers need to re-look at their network from a cost versus serviceability trade-off and optimize their retail business accordingly.
Does implementing real-time data analytics improve supply chain efficiency?
For sure it does and this is particularly true in transportation where online tracking of vehicles and packages helps reduce uncertainty and take corrective actions wherever required. Real-time data analytics also plays an important role in the last Mile Delivery LMD segment where geo-coding, real-time traffic and dynamic route planning helps achieve higher efficiencies and service levels.
Companies that worked with clients across all requirements whether its expansion or change in business objectives or even outsourcing and supplier management know the fact very well that the clients’ need increase in sale particularly in festive seasons, achieve substantial savings in distribution center operations, cut transport expenditure and helped improve overall efficiency in SCM. For better results and feedback from both sides, they create supplier review processes, fulfillment strategies, distribution strategies, introduced planning and control processes plus help in implementing an integrated supply chain approach.
Is the implementation of GST adding a positive impact on the retail value chain?
The implementation of GST works positively but particularly in the food business. With the GST, food business owners are able to serve from one single distribution center gaining critical efficiencies and making the business achieve value. This will also help them implement better technologies because some technologies need a certain scale to be possible.
These were some basic features of how important supply chain management SCM is for retail businesses. If you are a retailer yourself Xcentric Services is giving you an opportunity to get the latest tools to manage your supply chain. You can get the best business management solutions and the latest tools that are used by smart retailers to boost up their businesses. Being Microsoft partners, Xcentric Services is capable to customize Microsoft Dynamics 365 according to your business. Moreover, our team of professionals understands the nature of your business and come up with better guidance. So feel free to contact us.