Bamboo Rose & The Interline Partner for Comprehensive Benchmark Study
BOSTON, March 7, 2024 /PRNewswire/ -- Bamboo Rose and The Interline are proud to present the highly anticipated findings of our global custom industry research, "The State Of Retail Supply Chains & Sourcing Strategies in 2024".
This comprehensive benchmark report offers unprecedented insights into the current landscape of global retail supply chains and sourcing strategies shaping the future of the industry. Across every market sector, the data confirms that years of disruption left a heavy legacy, creating a harsh operating environment for brands, retailers, and their partners.
Brands and retailers around the world, ranging from industry giants to emerging players, took part in this deep-dive study. The research dissects the sentiments, challenges, and achievements these organizations and teams experience when navigating the complexities of modern sourcing and supply chain management.
Critical Findings Include:
- Technology Adoption Still Lags: Despite advancements, over 55% of organizations still rely on traditional methods such as spreadsheets and email attachments for sourcing and supply chain processes.
- Supplier Visibility is Lacking: A staggering 67% of brands and retailers report that visibility into key supply chain metrics is fair or lacking.
- Risk Management relies on Manual Processes: Alarmingly, 70% of respondents admit to using manual processes to manage disruptions and risks, highlighting the urgency for automation and resilience-building measures.
- Many Priorities Compete for Focus: Brands and retailers are prioritizing profitability, supply chain resilience, and speed to market.
"Across all market segments, respondents expressed the need for enhanced transparency and efficiency within the supplier base. This revelation carries profound implications, suggesting that brand and retail businesses aim to strengthen visibility and optimize existing relationships to achieve greater operational efficiency for the long haul. Retailers are focused on getting the foundation right to ensure future success, and they know that requires not only the right technology but also the best possible partnerships," said Jen Schiffman, CMO at Bamboo Rose.
"Our research highlights the crucial role of transparency, agility, communication, and collaboration in sourcing and supply chain management. These factors are not only vital for finding stability, sustainability, and certainty in a complex and ever-changing world, but also for shaping the future of retail. Technology plays a key role in achieving these objectives," stated Ben Hanson, Editor-in-Chief at The Interline.
"The State of Retail Supply Chains & Sourcing Strategies in 2024" aims to empower industry decision makers with actionable insights to drive transformation. From enhancing supplier relationships to upgrading technology, the report serves as a roadmap for navigating the evolving retail landscape.
Join Bamboo Rose LIVE for a Deep Dive Research Webinar:
Jen Schiffman will join Bamboo Rose's Chief Product Officer, Jeff Fedor, for a live Retail Uncorked community event to deep dive into the research findings on Tuesday, March 12 at 11am ET / 3pm GMT. We welcome attendees from brands and retailers around the world.
Visit https://bit.ly/retail-uncorked to sign up. The full report can be found here.
About Bamboo Rose:
Bamboo Rose is a global leader in enterprise retail technology solutions. With a focus on understanding customer challenges and delivering tailored solutions, Bamboo Rose empowers retailers to achieve positive business outcomes and drive success in the ever-evolving retail landscape. Visit bamboorose.com/ or find us on LinkedIn at linkedin.com/company/bamboorose/ to learn more.
About The Interline:
The Interline is the online destination for fashion professionals who are tasked with putting digital transformation into practice. From revolutions in creative design to new models of selling, The Interline covers the complete fashion value chain with exclusive editorial, interviews, reports, worldwide event partnerships, audio content, and more.
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