Source: Essential Retail, Ben Sillitoe
US-based supply chain solutions firm 4R Systems is looking to the European retail market for new partners, and believes a collaborative approach to profit optimisation can be a key ingredient to success.
UK department store chain John Lewis regularly attributes its partnership model, which sees staff across the business share the organisation’s annual profit, as an essential part of its growth in recent years.
And as US-based solutions provider 4R Systems eyes the European market, officially for the first time in 2015, the business’s CEO and president Kevin Stadler has acknowledged that aspects of the John Lewis approach should work well in the wider retail industry.
In an interview with Essential Retail, Stadler suggested current retail market dynamics, brought on by serious economic constraints in many parts of Europe in recent years, mean now is a prime time for more collaborative retailer-vendor deals, where bottom-line gains from such partnerships are shared between both parties.