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Sourcing Challenges

The retail industry has undergone a noticeable
transformation in the past few years and continues to
take shape. Today’s consumer shopping is nowhere near
a linear process. Consumer decisions are often made
in a series of online searches which are increasingly
ending with an online purchase and fading are the day’s
that online research ends with a trip to the store.
Competition between ecommerce leaders and traditional
retail outlets is only getting more intense.

Moreover, the volatility and unpredictability of today’s
global economic scene make traditional retailers rethink
their systems for stronger supply chain management
processes for their private brands. The massive number of
new vendors needed raises questions about managing
product development in conjunction with supplier and
product quality and compliance data, which can only be
addressed by upgrading retail business systems and
internal processes.

In a recent independent survey conducted by the
Global Sourcing Society Institute, over 400 retail
professionals weigh in on the value of private brands,
reveal the impacts of technology disruptions and
uncover the sourcing challenges of globalization.

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