Nearly all global companies are being affected by the current pandemic, none more so than those in the Retail and Consumer Packaged Goods (CPG) sector. Whilst there are some winners, the majority of retailers and CPG companies are less fortunate and the focus now is on survival through cost reduction and importantly preparation for the future bounce-back.
Retail and CPG companies need to plan how to become more adaptive in the future; this means becoming more digital, closer collaboration with the supply chain, making early payments available to all suppliers, as well as managing the difficult long-tail spend.
Tradeshift is about connecting every company in the world and creating economic opportunity for all. We can help retail and CPG companies become more adaptive, better able to deal with the ‘margin squeeze’ and improve the opportunity for business continuity.
During this session, we will discuss the strategies you can take to:
1. Enhance supplier relationships and business processes ready for the “bounce back”
2. Distribute funds through your supply chain, improving cash-flow and goodwill to your suppliers
3. Digitize and control spend management for the 80% of suppliers in your long-tail spend