Supply chain management, also known as SCM plays a key role in the retail industry. Rising competition in the retail industry has made it inevitable for companies to reach their consumers at the right time. With an efficient SCM, retailers can ensure smooth transition of products in the stages ranging from manufacturing to the point-of-sale. A slight distortion in the SCM can increase the risk of losses for companies.
At SpendEdge, we understand that short food supply chains are gaining popularity due to rising awareness among consumers. And to help you understand better, we have highlighted the role of SCM in the retail sector.
How Does Supply Chain Management Affect the Retail Landscape?
Reduces operating cost
An effective supply chain strategy allows companies to avoid over stocking and understocking in their inventory. It makes quick and timely delivery of products from manufacturing stage to final customers. This reduces organizations' inventory holding and warehousing costs. Also, it ensures smooth functioning of the production process.
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Withstand market competition
Supply chain plays a crucial role in delivering the products from the point of production to the point of purchase with the minimum cost and time. The mounting competition in the retail industry makes it imperative for companies to reach their customers faster and improve their satisfaction levels. To analyze the competitor’s supply chain strategies and withstand market competition, get in touch with our experts now!
Improve customer service levels
Customers of today expect their demands to be met on time due to numerous options available in the market. This increases pressure on retail companies to provide best services and retail customers. A good supply chain ensures on time delivery of products to customers.
To understand the importance of SCM in the retail category, read the complete article here!
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