Assessment 3 is an individual research report that is focused on ensuring that students are able to do quality research (peer reviewed articles (most important), textbook, reports, etc.) into how to...

SUPPLY CHAIN MANAGEMENT
Executive Summary
The supply chain management is bound to be one of the most important aspect for the sustainability of the company. The retail chain in Australia have been subjected to many impediments relating to the functional workings of their attributes. This assignment delves deeply into the Australian retail industry and how the functional attributes are rendered effectively. This has helped in gaining an understanding of the whip effect. How effectively the human workforce and technology should go hand in hand in rendering effective services. The main trends in the changing retail industry has helped us to list the down the appropriate recommendations for correcting them.
Table of Contents
Executive Summary    2
1. Customer value of the retail industry    4
1.1 Quality    5
1.2 Cost    5
1.3 Flexibility    6
1.4 Delivery    6
1.5 Innovation    6
Integration physical and online stores to enhance Order Fulfilment Process    6
3. Explain the bullwhip effect in the Retail Supply Chain    7
3.1 Understanding the effect    7
3.2 What leads to Bullwhip effect in the supply chain    8
4. Integration of human and technology systems in Retail Supply Chain    9
4.1 Importance of integration    9
4.2 Important tools for integration    9
5. The main trends in changing Retail Supply Chains    10
5.1 Understanding the trends    10
5.2 Situation during COVID-19    10
6. Conclusion    10
7. Recommendations    11
8. References    12
1. Customer value of the retail industry
The competitive business of today’s world is based on the landscape concerning the business. This aims in addressing the numerous challenges that might arise infront of the market as well as the customer. These challenges are the resultant factors due to environmental, competitions in the market, due to the uncertainty caused by dynamism. These retail industry involves the five areas of customer values in consideration of the variables. These are provided as follows:
1.1 Quality
The quality of the products as well as the services should be ascertained in an effective manner. This should be mandated in a way so that it is rendered useful by the users. It is important for the retailers to ensure good quality of the products and therefore they should purchase the product. As opined by Balaji, and Roy (2017) this will induce people to pay more prices if the quality of the products is found to be product. However, the retailers are subjected to dire situation since they get products which are produced at various parts of the world. The quality therefore suffers a major setback. Walmart in Australia are effective in providing the services to the customers. Even if the customer buys products from elsewhere they still go back to the retail outlet just for the services. This service quality rendered efficiently by the retail outlet of Australia is instrumental in creating customer satisfaction. This helps the customers in defining the quality. However, the customer satisfaction is believed to be useful on a recurring basis. This helps in contributing to the profitability of the company. For Example- The tie rack thriving in Australia has been a retailer in producing high quality products as it strives to function as one of the finest luxury brands in terms of inducing the value proposition effectively.
1.2 Cost
The economic modelling pertaining to the retail outlet should be effective in ascertaining the cost. This should be done in accordance to the local supply which should be less than that of the imported products. Once this is ascertained then they can fix the price of the products in accordance to the demands of the customers in the market. Since price is considered to be an important variable. Retailers should keep in mind that it is important for creating the value for the customers. This can only be accentuated by reducing the cost of their products in relation to their controlling costs. The customer will tend to buy from the retailers that will offer the highest perceived value. The retail stores in Australia in order to attract the customers need to keep in mind that they will face difficulties more than retaining the current customers. Since the cost appears to be in accordance to demand driven in accordance to the customers. Therefore, if the demand for the products appears to be exceedingly high then the customers can go on to fix their price.
1.3 Flexibility
Consumers want more choices as well as the flexibility of the way relating to the shopping functions that will be effective in paying for their purchases. The retail outlets should be effective in designing their outlets in accordance to the desirability of the customers that will benefit them. As opined by Hanaysha (2018) there are retail outlets in Australia which have a screen based selection system. Instead of going to this section and that section they can stand in front of the screen and click on their section and from there they can purchase the products that they can select.
1.4 Delivery
Due to the advent of the technology the retailers have taken resort to e-marketing system. Customers will be able to book their products from among the options that will delivered at the doorstep in an adept manner. The retail stores in Australia have been instrumental in rendering this service to the customers.
1.5 Innovation
Lastly one of the key tactics to safeguard the customers value and thereby enhance them is to take resort to innovation. More the retail outlets are instrumental in rendering innovative approaches in...