13. Managing Retailing, Wholesailing, and Logistics

 In a session defined by retailing, wholesaling and logistics, the primary concepts which I will be going over within this entry will cover and  showcase my understanding upon the concept of technology utilization in the retail industry, in addition to the evident sequence of activities that are found within the range of sales & operations planning procedure.

With the advancements met by technology, its imbuement within the activities that are found inside the retail industry have been a more than expected occurrence. The obvious shift in the online ecosystem has redefined the concept of shopping, as online experience and customer expectations are aligned with the concept of privacy, personalization and consistent customization. Ultimately, the imbuement and further implementation of technology within physical locations, addresses these profound wants and needs that originate from the customer base as it also answers to the restrictions opposed by the disruption of COVID-19 within the retail industry.

An evident example of such, is Amazon with their automated retail stores paving the path to customer journey enhancement through technological augmentation. Within the physical locations operated by Amazon's endeavors, concepts such as E-commerce friendly POS systems, adjusted machine learning in addition to staff-free and cashier-less checkouts, have become a typical phenomenon. It is worth noting, that the trends above, are assisted and made functional with the implementation of accurate data within the equation. Overall, the highlight of Amazon's automation activities highly depend on data, as it is essential for the improvement of demand, forecasting, inventory ordering as well as relationship management between the brand and the customer. (“How (and Why) Amazon is Sharing its Tech with Retailers Around the World,” 2021) 

In addition to the imbuement of technology within the activities observed inside the retailing industry, there are frameworks which assist in the enhancement of a company's sale procedure. Sales & Operations planning is a business management framework that capitalizes upon key supply chain drivers such as sales, marketing, demand, production in addition to inventory management and product development. With this framework in place, the primary objective is to enable leadership and managerial segmentations of an organization to redirect focus and resources in an efficient and timely manner, upon the key drivers which are mentioned above. (“How to use technology in the retail industry?,” 2018)

The S&OP framework/process is defined by 6 steps, data gathering, where statistics and values provide the necessary tools for the development of forecasting and prediction of demand; the demand planning group, where forecasts are finalized and shaped to address the requirements of the supply planning group; the supply planning group review, where the concepts above are analyzed and further explored upon to ensure that the organization possesses the ability to match the incoming demand; in addition to pre-exec S&OP, where a proposal is developed and the exec S&OP, where the decisions that were not finalized within the 5 first steps, are addressed, reviewed and shaped to reach the organizational goals. (“Sales and Operations Planning – S&OP – Logistiikan Maailma,” n.d.)

References

How (and Why) Amazon is Sharing its Tech with Retailers Around the World. (2021, April 27). Retrieved November 27, 2021, from Retail TouchPoints website: https://www.retailtouchpoints.com/topics/retail-innovation/how-and-why-amazon-is-sharing-its-tech-with-retailers-around-the-world

‌How to use technology in the retail industry? (2018, July 25). Retrieved November 27, 2021, from DataScope website: https://blog3.datascope.io/en/how-to-use-technology-in-the-retail-industry/

‌Sales and Operations Planning – S&OP – Logistiikan Maailma. (n.d.). Retrieved November 27, 2021, from https://www.logistiikanmaailma.fi/en/production/sales-and-operations-planning-sop/

Managing Retailing, Wholesailing, and Logistics presentation - Strategic Marketing Management course - KAMK. Retrieved from: DevMoodle - Strategic Marketing Management Course.