In today’s complex retail environment, organizations are looking out for effective ways to curtail the cost associated with the supply chain and ensure better continuity in the supply chain process. To meet the rising demand for retail products among the target audience, leading businesses in the retail industry are utilizing supply chain risk assessment studies to increase transparency in their supply chain activities. Supply chain risk assessment promises better flexibility into the prevailing supply chain process; thereby, improving their business performance. In the retail industry, leading businesses are leveraging supply chain risk assessment to improve efficiency and reduce the overall costs. Through an effective supply chain risk assessment, businesses in the retail sector can gain real-time insights on the flaws in the supply chain and devise effective strategies to stay responsive and agile.
To gain end-to-end visibility into the supply chain process, renowned organizations in the retail industry are approaching companies like SpendEdge. SpendEdge’s supply chain risk assessment helps businesses effectively streamline, automate, and integrate their supply chain governance. The solution also assists the client to identify the potential risks that are likely to impact the business.
The Procurement Pain Points and Insights Offered
A leading retail client was facing predicaments understanding their current state of supply chain and the import or export scenario. The client wanted to formulate a supply chain risk assessment solution to analyze the supply trends and forecasts and the profitability across the supply chain. Furthermore, the retail client wanted to seek ways to identify the potential bottlenecks in the supply chain, right from the initial manufacturing stage to the distribution of the products.
To gain detailed insights into the risks associated with supply chain, SpendEdge’s supply chain risk assessment experts followed a comprehensive research methodology comprising information from a wide array of primary and secondary resources. In addition, the supply chain risk assessment experts carried out qualitative and quantitative data analysis to better collaborate with suppliers and provide strategic insights into the costs associated with the supply chain.
With the help of SpendEdge’s supply chain risk assessment, leading clients in the retail industry can anticipate and proactively manage the supply chain issues and deliver better product quality and safety of the products. Also, through the robust engagement, the client in the retail industry can achieve better traceability of their products and understand the regulatory and compliance requirements.
Fundamental questions answered in this supply chain risk assessment study include
The Business Outcome
With the help of SpendEdge’s supply chain risk assessment solution, the retail industry client was able to gain better visibility into their supply chain initiatives and devise effective measures to mitigate risks. Furthermore, the retail client was able to strengthen supplier training programs and implement better supplier strategies.