Retailers today are facing historically tight margins due increased competition, the expanding retail sourcing network and the expansive resources it takes to deliver a product to market. Retailers are also faced with unprecedented challenges ranging from shifting retail formats, overabundance of consumer choice, fast-changing technology, greater focus on quality and price to a tough economic climate. The result is that those who are not constantly taking costs out of their retail supply chain or introducing innovative private label products run the risk of falling behind.
Lagging retailers are experiencing many issues from today’s challenges that include supplier compliance, order quantity and timing product delivery through their supply chain to name a few. These issues are mostly related to operational efficiency and the ability to respond to retail market trends faster. Beyond driving operational efficiency and cutting costs, a strategic approach to retail sourcing can help even the best-performing retailers enhance vendor relationships, increase product quality, reduce spending and find new sources of supply.
This white paper looks at the top five supply chain challenges that retailers face today and maps out a series of retail sourcing and supply chain strategies to address these challenges based on research and direct experience in supporting retailers to maintain a competitive advantage in a highly competitive market. Ultimately you will learn how to get the most value out of every part of the product development and supply chain process while ensuring alignment between internal and external product development, sourcing, supplier compliance, merchandising and quality teams.