LONDON–(BUSINESS WIRE)–SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest article on how is the UK retail supply chain different from other countries.
While supply chain planning has been an arduous task for retailers in Europe, companies in the UK appear to be ahead of their continental European counterparts. They are much ahead in supply chain planning and have better forecasting processes. For businesses to start scenario planning and address the impact of Brexit, it is crucial to understand how the UK retail supply chain differs from the rest of Europe. A comprehensive understanding of the retail supply chain could help companies to determine solutions best-suited post-Brexit.
At SpendEdge, we understand that preparing in earnest for all possible eventualities is imperative for retailers. Therefore, we have highlighted how the UK retail supply chain differs from the rest of Europe.
Ways the UK Retail Supply Chain Differs from the Rest of Europe
Retail supply chain processes
When it comes to supply chain processes, the UK retail supply chain has more reporting features. It is slightly more responsive in comparison to its counterparts in Europe. However, there are certain inefficiencies in the processes. Retailers in the UK require accurate forecasts of future out-of-stocks to improve retail supply chain management.
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Awareness of space data
Space is considered as a part of the replenishment process in Europe. However, the overall awareness of space data such as minimum display requirements and changes in the amount of space in individual stores is relatively low among European retailers. On the other hand, UK retailers have a slightly higher awareness of space data and they are likely to have processes that integrate external data into their forecasts. To know how you can improve the replenishment and retail supply chain process, get in touch with our experts now!
Forecasting issues in different markets
While most companies find it difficult to address forecasting issues, retailers in the UK face fewer inaccuracies in most forecasting categories. The higher concentration of multiple retailers and domination by the retail supply chain could be a reason for it. This provides retailers the opportunity to aim for economies of scale.
To know in detail how the UK retail supply chain differs from other countries in Europe, read the complete article here!
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