Retail Week’s latest survey highlights areas where retailer-supplier collaboration lags and how businesses turn them into their advantage.
With the coronavirus pandemic disrupting supply-chains and overall retail businesses across the globe, retailer-supplier partnerships have become more important than ever before. According to the Retailer-Supplier Collaboration survey, collaboration is improving across the industry.
Almost all retailers (92%) and the majority of suppliers (85%) said the collaboration has improved over the past two years, while a mere 1% of either group said it has worsened. But, there are areas like reliability and understanding business priorities that retailers and suppliers want their partners to improve, respectively.
This article states enabling better communication can help both parties develop more shopper-centric collaboration, which can help both retailers and suppliers increase profits. Additionally, the foundation to transparent collaboration process is accurate, reliable and accessible data.
[3 minute read]