How Retailers Can Mitigate Supply Chain Risk Ahead of the 2024 Holiday Season
Retailers face supply chain challenges despite increased sales. To navigate this, they can strengthen carrier relationships, use artificial intelligence and data analytics, invest in supply chain resilience, forecast complexity and assortment, and understand category nuances.
BRG is home to renowned thought leaders and experts considered authorities in their fields of work. Our timely research and perspectives provide analysis and insights on the most important issues facing the industries and organizations we serve.
Retailers preparing for a busy holiday season find themselves at a critical crossroads. Retail sales are up, but supply chain remains constrained, forcing retailers to choose between late-arrival markdowns or supply chain price increases. Fortunately, retailers can leverage several strategies (and technologies) to stay ahead during this uncertain time, especially factoring in their lack of pricing power.
Strategies for retailers’ consideration include:
- Strengthen relationships with carriers.
- Use artificial intelligence (AI) and data analytics to improve demand forecasting and inventory management.
- Invest in supply chain resilience.
- Forecast complexity and assortment strategies.
- Understand category nuances.
For more details on these strategies and putting them into action, read Chap Kistler and Zach Coles’ article in Chain Store Age.
Related Professionals
Prepare for what's next.
ThinkSet Magazine, a BRG publication, provides nuanced, multifaceted thinking and expert guidance that help today’s business leaders adopt a more strategic, long-term mindset to prepare for what’s next.