We all know innovation is the lifeblood of successful companies. But it’s not just about building innovative products or improving the customer experience – companies that survive and thrive for decades in their industry also continually revamp their processes, infrastructure, and strategic partnerships. Right now, sourcing executives in the retail space are facing a […]
For decades, whether they were purchasing clothing, food or furniture, shoppers saw private label brands as inferior to name brands. That notion is changing, and fast; in fact, one could argue that in many cases, private label and name brands are already on par with one another. Last year, Wegmans earned its repeat top spot […]
At this stage in the retail revolution, retailers and suppliers alike should know that collaboration is the ultimate key to success. Organizations are only beginning to work across both internal departments and external vendors to foster an efficient supply chain that streamlines communication and production. This process increases retailers’ bottom line and allows them to […]
Recent research from IDC shows that the industry collaborative cloud (ICC) market is growing rapidly. Across multiple industries, including retail, financial services, healthcare, government and more, ICC companies represent more than $1 billion in revenue. Even more, that number is projected to exceed $20 billion by the end of 2020. As outlined by IDC, […]
Retailers: Are you using the digital tools that are sparking a sourcing revolution? If you answered “no,” brace yourself. The digital approach is beginning to take a strong hold in the supply chain as it provides greater innovation and communicative collaboration between organizations and their suppliers. With 93 percent of respondents saying that they […]
When searching for new products, customers want value: they want high-quality options, but don’t want to pay an exorbitant amount of money. Due to the onset of promotion-heavy retail environments and rising influence of off-price retailers – Nordstrom Rack, Neiman Marcus Last Call, Saks off Fifth, TJ Maxx and Marshalls – Fung Global Retail research […]