‘Tis the season when supply chains are under pressure to meet customer demands and to keep internal business procedures running smoothly. Companies not optimizing their holiday supply chain and procurement processes are subject to risk. Disruptions, unpredictable demand, increased customer service expectations, and the need for faster communication between buyers and suppliers have made maintaining a robust and efficient supply chain a necessity.
The National Retail Federation (NRF) has issued a forecast expecting 2017 holiday retail sales in November and December to rise between 3.6 and 4 percent over last year for a total of $678.75 billion to $682 billion. For many retailers, this is good news as they look to boost their bottom lines. However, for those companies without an efficient supply chain and procurement process in place to manage ever-increasing demand, the heightened strain could spell disaster.