RETAIL PROCUREMENT CHALLENGES, OPPORTUNITIES, AND STRATEGIES

This academic research paper will reinforce the organizing, writing, and communication skills that the student already has acquired.  This original paper will be about 20 “typewritten” pages in length, plus title page, abstract, abbreviations, references, and appendix pages.  The student will utilize the format style in the APA’s Publication Manual of the American Psychological Association, Current Edition.  This paper is due at the end of the eighth week. Failure to submit this paper using this APA format on the date due may result in the student receiving one grade decrement from what the paper merited if receive on or before the due date.

Include at least 5 references in your bibliography.

The paper will present a current issue or problem related with some aspect of Procurement or Supply Chain Management.

Abstract

In the modern times the retail industry has become used to deal with all kinds of procurement challenges due to the unforeseen events, the advances in technology, and the fast-tracked lifestyle changes. In 2020 and 2021due to the Covid-19, thousands of stores were forced to shut their businesses because they could not overcome the consequences of the epidemic. However, this unique situation, as well as challenges, also presented opportunities that helped many businesses overcome the procurement adversities caused by Covid-19. This essay outlines some of the biggest challenges that the retail procurement has experienced, and will be facing on the incoming years, the opportunities that those challenges present to the companies, and the strategies that can be used to stay strong and keep the businesses moving forward.