Analytical Study for Functions of Supply Chain Management on Retail Sector and its Effect on Retail Prices

Abstract

A supply chain is incomplete if there is no proper distribution channel that delivers goods to the end users. A good Supply chain model would be the best way to face any pandemic or crisis’s effects. challenges and prospects aim to holistically review the retail supply chain, the challenges, and emerging trends, with a particular focus on the supply chain for business owners. Retailing tasks, retail classification, differences in grocery and fashion retailing, challenges and opportunities for prospective retailers, supply chain management and small businesses are discussed amongst others. The feasibility for supply chain for the retail business and results that help make the case company edge competitors are also part of the discussion. Theories, opinions, and recommendations used in this research work were based on extensive use of primary and secondary research methods which include interview, textbook, dictionaries, case studies and internet media. At the end recommendations on inventory management, formation of buying group and extensive use of niche merchandise is put forward. The contents of this paper will come in handy for prospective retail entrepreneurs and researchers. There is also a possibility for further research into the transformations in retail supply chain like the quick response, factory gate pricing, efficient consumer response.