Sorting Out Retail Priorities
Retailers and logistics service providers shift their risk management and digitization priorities in response to pandemic-related challenges, says a report from Blue Yonder and Reuters Events Supply Chain. Highlights from the report reveal:
Reconsidering Risk Management
- Retailers/manufacturers are hesitant to pursue nearshoring and onshoring plans, with only 29% making an investment.
- 63% of retailers/manufacturers favor dual-sourcing as a strategy moving forward.
- As environmental concerns increase, 53% of retailers/manufacturers and 50% of logistics companies plan to invest in sustainability.
- Logistics companies feel the pressure to reduce supply chain costs (58%), improve service levels (48%), and address labor shortages (30%).
- 63% of retailers/manufacturers and 60% of logistics companies agree that end-to-end visibility yields the highest return on investment in their supply chains.
- 48% of retailers/manufacturers and 57% of logistics companies have a robust cloud strategy, creating infrastructure agility that legacy systems can’t achieve.