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Retailers have faced a tough year in the last 12-18 months, and while recovery seems to be in progress, they still have some work to do. Here are four ways leading Procurement organizations can influence retail recovery in 2021 and beyond: 1. Rethink What’s Normal. Decentralize Procurement.
The man is called Amancio Ortega , and journalists were surprised to find out he is the founder of the retail store Zara. . Deep Collaboration: Suppliers are all close to Zara factories and collaborate tightly, so Zara can order on an everyday-need basis. . They ship very small batches twice a week.
For procurement professionals, this development presents new challenges in cost management, supplier relationships, and regulatory compliance. Suppliers may struggle with increased operational costs or choose to focus on markets with fewer trade barriers.
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