Nordstrom’s top priority for 2023: Supply chain optimization
On a March 2023 earnings call, Nordstrom executives are making very clear that they are taking the retailer’s supply chain seriously. In a plan to improve its financial performance over the fiscal year, optimizing its supply chain has been highlighted at a top priority by President and Chief Brand Officer Pete Nordstrom. Nordstrom, like most retailers, is focused on optimizing its supply chain to improve efficiency, reduce costs, and enhance customer experience
By optimizing its supply chain, Nordstrom can ensure that it has the right products in the right stores at the right time, improving product availability for customers. An efficient supply chain can help Nordstrom to reduce the cost of sourcing, manufacturing, and distributing products. This can enable the company to offer more competitive prices to customers while maintaining profitability. By streamlining its supply chain, Nordstrom can improve its ability to respond to changing customer demands and market trends, allowing the company to quickly introduce new products or respond to shifts in consumer behavior. A well-optimized supply chain can help Nordstrom to deliver products more quickly and accurately, improving the overall customer experience and driving customer loyalty.
U.S. retailers are gearing up for a cautious but steady holiday season, focusing on mid-range price items, according to a CNBC Supply Chain Survey.