Over the years, the retail industry has been witnessing fierce competition with players competing to gain a stronger foothold in the market space. Moreover, the increasing population, higher disposable income, and increasing customer spending are providing opportunities for the retail sector players to spur growth. However, according to SpendEdge’s supply chain risk management experts, the higher inflation and unemployment rates and are some of the major reasons behind the retail sector’s sluggish growth.
As a result of such challenges, many retail sector firms have started opting for supply chain risk management solutions to streamline their supply chain activities and increase profitability across the supply chain. Moreover, the supply chain risk management solutions offered by SpendEdge help retail sector firms gain an in-depth understanding of the supply forecasts and trends.
The Procurement Pain Point and Insights Offered
A global retail sector player wanted to streamline their supply chain activities across the supply chain. Additionally, the client wanted to gain an in-depth understanding of their supply chain structure and supply trends. Furthermore, the client wanted to gain insights on ways to increase their profitability across the supply chain.
The supply chain risk management experts at SpendEdge followed a comprehensive two-step research methodology, which included primary and secondary research coupled with quantitative and qualitative data collection methodologies to address the client’s business issue. During the course of this supply chain risk management study, the retail sector client was able to curb the risks across the supply chain with the help of SpendEdge’s supply chain vulnerability map. Additionally, the client gained a superior understanding of their supply chain structure and increased overall effectiveness.
Key questions answered in this supply chain management study include
The supply chain management study assisted the retail sector client in streamlining their supply chain activities across several geographies. Additionally, the client was able to evaluate the overall impact on the global supply chain.