A Review of Technological Advancements of Supply Chain Management in Retail Sector

Abstract

With a growing boom in the retail sector, Supply Chain has become of great importance. Customers have a wide array of brands and products to choose from, thus increasing competition among brands. To stay at the top, each company has to have a secure, efficient and reliable Supply Chain system in place. A good supply chain system ensures fast delivery from goods, in the right condition, at the right time and at the right place. This enables retailers to service their customers well, thus increasing their customer base, as well as retaining existing customers. Should a company fail to satisfy its customers, it will lead to a loss for that company and a boon for another. Thus, we see that Supply Chain Management in the retail sector is of great importance as it forms the backbone of the entire functioning of the retail store.