Multi-Enterprise Platforms Key to the Survival of Retailers in Wake of Pandemic

A new report by Coresight Research indicates the critical importance of digital transformation in the retail environment. A New Reality Demands a Networked Product and Supply Chain Platform highlights the industry trends and changes accelerated by the COVID-19 pandemic, and suggests that the capacity to adapt to changing consumer preferences about both shopping and order fulfilment will be the key to survival during and coming out of these unprecedented times.

The report, sponsored by Bamboo Rose, a provider of multi-enterprise platforms (MEPs) for retailers, brands and wholesalers, analyzes the results of a May 2020 Coresight Research study of 118 US retailers and Direct To Consumer (DTC) brands on their businesses and investment challenges due to COVID-19, as well as their experience with digital or multi-enterprise platforms.

Notes CEO and Founder of Coresight Research, Deborah Weinswig: “Our survey found that close to 50% of retailers surveyed felt that the ongoing agility and flexibility of their supply chains was their most pressing business issue in the upcoming 12-24 months. Recent, unprecedented changes to the retail industry, and the world, support this feeling – let’s recall that grocery stores across the US rapidly ran out of toilet paper and baking yeast early in spring 2020. How could those shortages have been prevented – getting the customers the products and the retailers the revenue they needed – had supply chains been prepared to pivot?”

“Multi-enterprise platforms create business communities that are agile, fast, and cost effective,” said Bamboo Rose CEO, Sue Welch. “Given the current environment, companies must act with speed and decisiveness, but firms can only act as quickly as their slowest partner. We certainly saw that our retail, brand, and supplier clients were able to not only mitigate the impact of COVID-19 but could also take advantage of new business opportunities and revenue models.”

The study gathers insights into how retailers can better prepare for the future with multi-enterprise platforms, which can provide benefits such as:

• Cloud-based, real-time business networks that facilitate communication and collaboration
• Improved business relationships
• Accelerated speed to market due to increased options, more informed choices, and overall supply chain visibility
• Heightened collaboration across the entire value chain
• Enhanced sales and profitability, and new revenue opportunities

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