With shoppers finding much of what they want online, the future of the brick-and-mortar store can seem bleak. Such major retailers as J.C. Penney, Lowe’s, Gap and Family Dollar, among many others, have announced plans to close at least some stores across the United States this year.
As other organizations face a rough time due to coronavirus pandemic, Amazon seems to be having a good time. The company just reported the best ever quarter, meaning the company is making profits and is gaining more power with time. Despite the losses that have reduced traffic in malls for quite some time, customers seem to be shifting their attention to online shopping. And then the coronavirus hit. As it appears, Amazon might soon take over spaces of bankrupt retailers who are struggling with the coronavirus pandemic and other issues.
Supply chain management is becoming complex each year. The main influences that are occasioning evolution in this industry are the rapid globalization of supply chains. The globalization of supply chain networks often faces challenges associated with the risk of delays and confusion. As such, managers are doing their best by putting more attention to planning and coming up with contingency planning and management strategies that will address these challenges and increase customer satisfaction and performance in general. As procurement and supply chain operations increasingly adopt digitization, which is proving to be strategically necessary in the era of intense competition and increased customer demands, professionals in these areas must find ways of staying on top of things and getting data that they need in order to make the right decisions.
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