A perfect storm of consumer trends, market disruptions, and supply chain threats is driving an unprecedented transformation in the retail space.
One thing, however, is abundantly clear: consumers are increasingly demanding, more educated, and hold higher expectations than ever. As a result, brands now struggle to deliver the products consumers want – when they want them – while facing shrinking margins. At the same time, retailers operating within a supply chain that’s slower and less efficient than it could be. Retailers desperately need a faster, more predictable, and less expensive supply chain.
Over the last several years, retailers have doubled down on store brands to meet consumer demands for high-value, low-cost products. As a result, one out of every four products sold in the United States is now a private label or store brand, according to the Private Label Manufacturers Association (PLMA), and the trend is still growing.
If you could, would you want to digitally create and manage specifications, qualify suppliers, scorecard them, quickly find items that maximize revenue and seasonal requirements, and know that all required documentation is already updated?
It’s now possible to secure the complete supply chain visibility you need to reduce risk while automating supplier relationship management.
Find out today how TraceGains can help.
“Before Supplier Management, we had about four people spending a combined 100 hours a week qualifying and onboarding suppliers. Now, we have one person spending about 20 hours a week on it.”
– Jared Keefer, Director of Safety and Regulatory Compliance