Explain how an efficient supply chain system can increase a retailer’s level of product availability and decrease its inventory investment.
efficient supply chain system
You are required to create a thread in response to the provided prompt for each forum. The thread must be 500–750 words and demonstrate course-related knowledge. Each thread must use current APA formatting, cite 2 peer-reviewed scholarly sources, and include 1 biblical integration.
In this module/week, you learned how to effectively manage the employees of a retail company in order to achieve optimum productivity, high morale, and low turnover, thus increasing the profit margin. Chapter 10 provides information on the various methods for using internal information systems and supply chain management (SCM) systems to maintain a low-cost structure and, thus, increase the profit margin. Chapter 11 discusses the components that produce an effective customer relationship management (CRM) system for the purpose of increasing long-term sales from loyal customers. For this Discussion Board Forum, choose no more than 2 of the following questions to discuss in your thread:
- How can retailers use hiring, selecting, training, and motivating employees in their human resource management practices to gain competitive advantage?
- Explain how an efficient supply chain system can increase a retailer’s level of product availability and decrease its inventory investment.
- Explain the differences between pull and push supply chains.
- Think of one of your favorite places to shop. How does this retailer create customer loyalty and satisfaction, encourage repeat visits, establish an emotional bond between the customer and the retailer, know the customer’s preferences, and provide personal attention and memorable experiences to its best customers?