Question
Define Retail Supply Chain Management. Explain its primary objectives and how it differs from traditional wholesale supply chain management.
Answer :
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Retail Supply Chain Management (RSCM) refers to the systematic planning, coordination, and control of the flow of products, information, and money from suppliers to retailers and finally to consumers. It includes activities such as purchasing, transportation, warehousing, inventory management, order processing, distribution, and delivery of products to retail outlets or customers. The main purpose is to ensure that the right product reaches the right customer, at the right place and at the right time, while maintaining an appropriate cost and service level. In retail business, supply chain management is particularly important because retailers deal directly with final consumers whose preferences and buying behaviour can change quickly. The primary objective of retail supply chain management is to ensure product availability. Retailers must
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