It is a never-ending battle for retailers to stay ahead of the competition. Suppliers are forcing up costs, consumer sentiment is pushing down retail prices and everyone is looking to shore up margins. The mega trends in the retail industry are putting pressure on procurement to find new ways to meet demands and deliver more value to the business:
- Globalization of lower cost suppliers and new markets to drive revenue
- Pressures on all parts of the business to increase EPS
- Big data to drive analytics so retailers can create custom experiences
- Omnichannel driving new demands on customer expectations
- Consumers drawn to retailers that invest in Corporate Social Responsibility (CSR)
- Risk mitigation and data security to protect customers
Procurement has a responsibility to respond. The best run strategic procurement teams invest in people, process and technology to drive financial performance, influence innovation, and minimize risk.
BravoSolution has a proven record of global success, helping customers optimize across initiatives, delivering quantifiable value.
With BravoAdvantage, retail procurement organizations can support business growth, profit and margins by helping to improve the quality of products while reducing costs, increase global leveraging initiatives, develop a strategic sourcing center of excellence and maintain good relationships with key suppliers:
- Actively measure and manage spend performance
- Proactively identify new sourcing opportunities, better manage compliance and more accurately report on savings
- Onboard, segment and manage suppliers based on performance, risk and future development
- Automate simple and complex sourcing events to reduce cycle times, increase, transparency and deliver faster ROI
- Link contract performance to Supplier Value Management for a single repository for creating, storing and tracking contracts
- Unlock massive savings in critical categories by analyzing sourcing scenarios to find the most advantageous approach
- Buy and pay for goods and services in a simplified, paperless, and cost-efficient way
BravoSolution is the partner of choice for the retail industry, increasing procurement and supplier value contribution.