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RILA and Auburn University Release State of the Retail Supply Chain Report

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RILA Report


Arlington, Va.—March 7, 2012—The third annual “State of The Retail Supply Chain Report” from the Retail Industry Leaders Association (RILA) and Auburn University, with sponsorship from Accenture, reveals a heightened urgency by retailers and supply chain management (SCM) executives to shift from cost cutting to growth.

The report places emphasis on multi-channel retailingand explores how retailers are working to meet the increased consumer demand for continual access to products from any channel

Retailer compliance standards strive for near-perfect execution within the supply chain to efficiently and visibly speed merchandise from source to shelf. Anything less will result in lost revenue for both retailers and suppliers. Manufacturing has long since used  Six Sigma methodologies to eliminate defects, ensuring no more than 3.4 defects per million opportunities. Merchandise suppliers striving for the “Perfect Order” and looking to accomplish similar Six Sigma results, can more closely achieve this through Perfect Logistics. According to a 2011 ASN (advanced shipping notice) study by Auburn University, Compliance Networks, and VCF, ASN inaccuracies range between 3% and 7%, depending on the level of retailer audit practices.

 

 

As an example, a 1 million case order at $100 per case, with a 5.8% error rate, equates to a $5.8 million impact. This is an enormous hit to the bottom line for both retailers and their suppliers. As we look to achieve the Perfect Order through Perfect Logistics, we find that RFID, properly implemented, is a definitive return for everyone’s investment. RFID has seen a recent surge with retailers such as Walmart, JCPenney, American Apparel, Dillard’s, and Macy’s leading the charge. Leading suppliers such as Levi Strauss, Li & Fung, Jockey, VF Jeanswear, and more have adopted the technology and are realizing an ROI through the ability to respond quickly and accurately, meeting the demand for specific items based on the thoughtful analysis of real-time inventory counts and shifts. How do we move beyond a few invested retailers and suppliers to an industry ready to take logistics one step closer to perfection? Collaboration and buy-in through education.

Last modified on Monday, 21 May 2012 14:39

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