Businesses often insist on forecasting weekly, based on considerable demand variation from week to week. The belief is that weekly forecasting will be more accurate, will improve their replenishment planning, and will lead to a better managed overall inventory. But will it?
A common phenomenon in all supply chains is the amplification and distortion of demand fluctuations. These start off small at the retail level and amplify further up the chain. When cracking a bullwhip, the handle of the whip moves 60 degrees yet the tip of the whip moves at 360 degrees so the terms bullwhip effect is most befitting. The impact at the retail level is low and escalates further up the supply chain with the manufacturer suffering the most.
Even consumers who prefer to pay for purchases with non-cash alternatives such as credit cards and digital wallets still use cash regularly, according to recently published research of U.K. consumers and small businesses. While the preference for cashless payments has grown, there is still a strong interest in using hard, cold cash in many situations. The study, conducted by the U.K.’s Payment Systems Regulator (PSR), found that 69 percent of consumers prefer to use payment cards, but 83 percent had paid with cash for a purchase within the past week.
While shopping for a POS system takes a lot of research and the right investment, one of the most important parts of getting a new POS system is implementing it into your current operations. Once you’ve introduced your system to your business, it’s essential to train your staff and make sure they know how to make the best of its capabilities.
Everyone knows theft is a big problem in retail. Not only do shop owners have to guard against shoplifters and scammers, but the sad reality is retailers also must constantly deal with employee theft.
Despite the ever-present specter of Amazon, retailers of all stripes are taking decisive steps to modernize their operations by making in-store improvements and honing their focus on delivering a personalized customer experience.
Customers have come to expect a unified shopping experience across all channels forcing stores to connect the dots between their in-store and online operations. While not all omnichannel features are one-size-fits-all, BOPIS is an option shoppers are coming to expect from retailers. According to a survey from Internet Retailer and BizRate, 53% of shoppers plan to increase their use of buy online, pick up in-store (BOPIS) this year and by not giving your customers the choice, retailers could be losing sales.
From the moment the buy button is clicked through delivery to the shopper, everything that happens behind the scenes is orchestrated by the order management system (OMS). That’s why 45 percent of retailers report they plan to upgrade or implement a totally new OMS in the next two years. A new study conducted by RIS News uncovers the state of order management in today’s complex retail environments and other key findings.
The reality of today’s retail market is that many retailers struggle with the skills, scale and technology to deliver a winning customer experience while generating a profit.
Radial Dropship Manager is a cloud-based supply chain collaboration solution that automates order processing, exception handling, shipping, invoicing, and inventory between you and your dropship suppliers.
Radial brings more than 15 years of experience and 24x7x365 resources that work in concert and adjust in real time to ensure cyber criminals don’t get the upper hand.
Fulfillment & Transportation is a time-space equation that involves finding the product and setting it on the right path with expedience. Radial’s Fulfillment & Transportation solutions make that happen.
For more than 30 years, APG Cash Drawer has been designing and delivering cash drawers with a variety of size, color, interface, and integration options. An APG cash drawer will provide years of smooth, trouble free service with virtually no downtime, no service required, and no headaches. Our cash drawers are so well constructed and so reliable that our customers install them and forget them - even in the most demanding environments.
Radial, a bpost company, is the leader in omnichannel commerce technology and operations, enabling brands and retailers to profitably exceed retail customer expectations. Radial’s technical, powerful omnichannel solutions connect supply and demand through efficient fulfillment and transportation options, intelligent fraud detection, payments, and tax systems, and personalized customer care services.
Customer service has become a key component of the overall customer journey, and more critically, customer lifetime value. Therefore, retailers need to invest in service options to provide choice and convenience to customers.