Today’s retail sourcing environment is increasingly complex, where multiple functions, processes and suppliers in different countries must collaborate like a virtual orchestra to produce products within short lead times. Failure to get the right product mix in front of the increasingly fickle consumer could mean failure of a product, brand or company.
As complexity grows within retail supply chain comes multiple steps, processes and milestones involved from a product concept or planning stage to the point of product delivery and sale to the customer. In order for new competitive strategies to work, retailers need to ensure that their supply chains are fully optimized with built in visibility, collaboration and efficiency. As the number of private label sku’s sourced increases, numerous functional areas in different countries need to collaborate and plan to respond to change effectively.
If communication and collaboration is ineffective, bottlenecks occur, production and delivery dates are missed, margins are squeezed, consumers look elsewhere and the bottom line takes a hit. Often production delays are the result of not being able to automatically connect information from a multitude of different supplier processes quickly, and accurately. Information required through the retail product lifecycle (Retail PLM) comes from different sources including spreadsheets, emails and third party disparate systems and there is often no automatic way to overlay this information into one clear view.
The best strategic sourcing software tools help retailers get products to market on time through expanded visibility into critical issues which might impact the product lifecycle. This white paper addresses common issues that global retailers face in their private label product development, retail sourcing and global supply chains while providing an overview of how Retail Supply Chain Management software (SCM), Retail Sourcing and Retail Product Lifecycle Management solutions (retail PLM solutions) can relieve supply chain bottlenecks and put any size retail business on a path to success and growth.