This is Part 1 of the Retail TouchPoints series, titled: Retailer-Supplier Collaboration: The New Operational Imperative. Based on conversations with retailers, analysts and other industry experts, this 4-part feature examines the dominant trends, challenges, technologies and achievements now at the forefront of attaining full retailer-supplier collaboration. Part 2 of the Retail-Supplier Collaboration feature will appear in the February 19 newsletter.
Today’s retail supply chain executives are moving more products farther and faster than ever before. They are pressured by consumers’ new-found empowerment over products and delivery, uncertain global economies and advances in globalization, localization, omnichannel retail and other demands ― all putting strain on the supply chain process.
To combat today’s supply chain challenges, smart retailers are taking a more focused look at collaborating with their supplier partners. A successful retailer-supplier collaboration can help alleviate pressures along all key points in the supply system. A strong alliance can bring products to market faster, reduce production and logistics costs, drive market share, and increase sales, while maximizing ROI for both partners.