In recent years, there have been some dynamic shifts in the global retail sourcing industry as evident in a recent survey study conducted by the Global Sourcing Society (GSS). GSS surveyed over 500 retail and CPG professionals, ranging from C-level executives, retail sourcing, supply chain management and quality directors and managers from over 50 of the world’s leading retail, CPG, and wholesale organizations. In this white paper, we will uncover why retailers are shifting sourcing to emerging markets, the challenges of setting sights on low-cost sourcing countries and how retail technology disruption is helping to overcome some of these challenges.
Private label retail sourcing is a procurement strategy for retail organizations aimed at exploiting global efficiencies in private label product sourcing and development. Due to the global nature of this supply chain management strategy, retailers that rely on global retail sourcing for private label goods are susceptible to the influences of macro-regulatory changes and disruptive technologies from all over the world. Unsurprisingly, the shifts in the ever-changing retail marketplace are always at the front of industry professional’s minds and ensure that they are constantly working to stay ahead of the curve.
For many, this means keeping costs low and anticipating the actions of consumers, competitors and outside influences. It is this ubiquitous desire to stay abreast of the industry that caused a theme of change and uncertainty to appear in the aforementioned market research. The study shows that retail supply chain managers and retail sourcing professionals are poised for a market shift in response to industry disruption. For more information on the latest retail market study results, read the full white paper today!