Lecture 3

Brick-and-mortar stores operate from a physical storefront, as opposed to other common retailing methods such as mail order catalogs or online shopping. Brick-and-mortar retailing can offer a number of benefits and drawbacks for store owners as well as customers.. Read more on this free link
We all love and enjoy shopping. Not only does it provide basic needs but it is also fun and therapeutic. While shopping has been used as a trading method since ages ago, the methods and avenues used have greatly changed over time.Read more on this free link
Lost sales can be an enormous drain on a retailer’s profitability. Apart from the the direct loss of gross profit, there is also a pretty good chance that the customer won’t come back, could share negative stories about their experience and so on. Read more on this free link
Online retailers continue to grow in popularity and profitability, accounting for nearly 20% of retail sales worldwide. But that’s not to say that physical stores are falling behind.
According to the US Census Bureau, 2021 was one of the strongest years in brick-and-mortar retail history, with retail sales totaling $6.6 trillion. Read more on this free link
As omnichannel shopping is becoming the new norm, consumer and retail companies must be ready to deliver fast, impeccable omnichannel service. Doing so requires a new supply chain network approach. Read more on this free link
If there is only one theoretical concept you need to understand to make better supply chain decisions, it is Risk pooling. Very close but still a far second is the Bullwhip effect.First introduced in the supply chain context in Designing and Managing the Supply Chain, risk pooling is a statistical concept that suggests that demand variability is reduced if one can aggregate demand, for example, across locations, across products or even across time.. Read more on this free link
Introduction:The business terms “Push” and “Pull” originated in the Logistic and Supply Chain Management. Relative to customer demand, supply chain processes are executed, which fall into two broad categories-“Push” and “Pull”. Read more on this free link
Push And Pull Strategy In Supply Chain Management – A Comprehensive GuideSupply chain management is undoubtedly one of the significant and core operations in the portfolio of a business. You can come across various components in your supply chain management approach with a profound impact on business and bottom lines. Therefore, many business owners look forward to opportunities in selecting the ideal alternative among push and pull strategy in supply chain.
Even people without any idea about the importance of supply chain strategy can vouch for selecting ideal supply chain strategies.Read more on this free link
A company's supply chain stretches from the factory where its products are made to the point the products are in customer hands. Supply chain strategy determines when product should be fabricated, delivered to distribution centers and made available in the retail channel. Under a pull supply chain, actual customer demand drives the process, while push strategies are driven by long-term projections of customer demand.. Read more on this free link
What is risk pooling?The pooling of risk is fundamental to the concept of insurance. A health insurance risk pool is a group of individuals whose medical costs are combined to calculate premiums. Pooling risks together allows the higher costs of the less healthy to be offset by the relatively lower costs of the healthy, either in a plan overall or within a premium rating category. Read more on this free link
OverviewEvery successful business relies heavily on efficient supply chain management to run its everyday operations. Some of the most successful companies in the world, like Amazon and Walmart, rely heavily on new and sophisticated techniques in supply chain logistics to run their operations. Hence, this is a very active space that sees a lot of innovation in all aspects of the chain. Let’s look at the Push and Pull strategies in supply chain management and see which approach works for which business. Read more on this free link
What is Risk Pooling? Updated on October 31, 2022 , 18602 views insurance is a way to transfer your risks to the Capital Market in order to survive any unplanned financial losses. In Insurance Terms, risk pooling is the sharing of common financial risks evenly among a large number of people. So, the Capital Markets or here, Insurance companies, take that risk from you in exchange for a regular payment called premium. The company believes the premium is enough to cover the risk. An interesting thing to note here is that you are not the only one getting insured. . Read more at: https://www.fincash.com/l/insurance/risk-pooling. Read more on this free link
An Inspiring HistoryThe operational practices of almost every player in the Automobile and Auto component industry are greatly influenced by the pioneering innovations of Henry Ford and Taichi Ohno. Henry Ford used space as “forced” limitation in the shop floor layout to ensure rapid flow of inventory. Piled up inventory in the allotted space, forced a cascading stoppage of the entire line, and this simple mechanism ensured that everyone focused on flow rather than just producing to utilize capacity of individual workstations Read more on this free link
Your supply chain should be helping your company deliver the products that your customers want—when your customers want those products—and accomplish those things while being as cost-effective as possible. Read more on this free link