Retailers today are 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 innovating run the risk of falling behind. This white paper looks at the top five retail supply chain challenges that retailers face today and maps out a series of strategies to address these challenges based on research and direct experience in supporting retailers to maintain a competitive advantage in a highly competitive market.
Based on extensive industry research and consultation with industry analysts and our customers, CBX Software has identified the following top key five retail supply chain challenges that retailers commonly face. In no specific order, these challenges are:
- Slipping profit margins
- Inefficiency in operations
- Lack of responsiveness to trends
- Poor quality & regulatory compliance
- Inability to integrate selling channels
The unfolding retail landscape is looking very different to the old one. Who could have predicted that online retails sales would grow at a dramatically faster rate than bricks and mortar channels? To thrive in this new paradigm, retailers have had to reinvent themselves by creating their own brands and finding new markets to source and sell their products. Most importantly success in the new era will be defined by who has the most creative and efficient supply chain, where products are manufactured virtually and distributed to consumers seamlessly through multiple channels.