When you evaluate how your retail is managed, have you ever thought about how many checks you must make for the process of successfully?
Let’s do a quick review: training your team, synchronized supply, inventory management (the most complicated) and improving the sales force, among others.
But we could create a much more extensive list of the key axes to face the challenges that you must face daily in your retail.
But calm down! Here we mention some keys to improve the operational processes of your retail.
What is retail?
Known in our perfect Spanish as retail. That is, a type of business that is dedicated to selling products for the final consumer.
Imagine that you are Don Pancho, the owner of your local supermarket. For this reason you have to maintain business relationships with producers, manufacturers and distributors. They are the ones who can provide you with the product that your locality demands.
The conjugation of your store with the rest of the participants are what feed the retail. It is what we know as supply chain.
Let’s explain it better:
How does retail work?
This follows from what we just mentioned, but in reverse. Let’s see, let’s start by briefly explaining what a supply chain is. This consists of 3 key parts: manufacturing, distribution and supply.
The retailer, that is, you, the supermarket owner, are the last of this link. And as such, you must take care of buying the product from the wholesaler to sell it to final consumers in your sector.
To have the product that the community consumes daily, you must create logistics that connect with everything behind your business. In other words, the supply chain.
Ok, so my store and the wholesaler are part of the supply chain? Correct! Now let’s see the role of each.
Differences between retail and wholesale trade
Let’s continue with the previous example: as the retailer, you must satisfy the consumption demand of your community. So, you go to buy wholesale products.
The wholesaler, as his name indicates, is the one who supplies you with all the products you sell to the final consumer. That is to say, marketing occurs from company to company.
How to manage your retail?
Remember some of the checks we mentioned initially. You already did? Good. Now let’s begin to review some of the recommendations so that you do not suffer thinking about how your retail is managed successfully.
Physical distribution and online distribution
There is a reality that retail operational processes frequently encounter: emerging post-covid protocols and restrictions.
This has caused the retail industry< /a> reassess the physical layout. And it is time that you also consider it through a service such as 3PL (Third Party Logistics). Or what is the same, outsourced logistics.
By relying on this type of service, your retailer can reduce costs and efforts in constantly avoiding distribution challenges.