PRGX Webinar: 3 Ways Retailers Can Minimize Vendor Abrasion and Supplier Friction

Rhea-AI Summary

PRGX Global recently hosted a webinar titled “3 Ways to Minimize Abrasion with Retail Vendors,” focusing on enhancing supplier-retailer relationships. The session, led by Scott Brown and Patrick Miller, aimed to address common supplier friction points that can lead to significant profit leakage for retailers. With a track record of identifying over 300 leakage points, PRGX assists clients in recovering $1.2 billion in annual cash flow. This effort aims to strengthen partnerships between retailers and vendors, ultimately improving operational efficiency.

Positive

• Hosted a webinar that provides actionable insights for retailers to enhance vendor relationships.
• PRGX claims to help clients recover $1.2 billion in annual cash flow, showcasing its effectiveness in the industry.

Negative

• The potential for profit leakage due to supplier errors remains a significant issue in retailer-vendor relationships.

Webinar presents case studies from best-in-class retailers on how to minimize supplier friction and strengthen vendor partnerships

ATLANTA, July 07, 2020 (GLOBE NEWSWIRE) -- PRGX Global, Inc. (Nasdaq: PRGX), a global leader in recovery audit and spend analytics services, announced its recent webinar, “3 Ways to Minimize Abrasion with Retail Vendors,” is now available for viewing.

The relationship between retailers and their vendors is built upon trust, ongoing communication and the ability to order, receive, promote and pay for goods and services. Errors, however, are inevitable during that process. Considering the size and scale of many supplier-retailer relationships, those errors can oftentimes result in millions of dollars in profit leakage.

Hosted by PRGX Regional Vice President Scott Brown and PRGX Senior Audit Director Patrick Miller, this webinar is designed to help retailers address common points of supplier friction, identify three key areas to minimize abrasion and ultimately improve the supplier-retailer relationship.

“There is a great deal of opportunity for retailers and suppliers to establish mutually beneficial relationships that stick to the terms of their contracts and minimize the potential for profit leakage,” said Brown. “While vendor abrasion is a persistent issue, strengthening partnerships with the vendor community enables retailers to enhance their own operations and realize the full value of the relationship.”

The webinar, which was hosted on June 2, is available at https://www.prgx.com/resources/3-ways-to-minimize-abrasion-with-retail-vendors/.

About PRGX
PRGX helps companies spot value in their source-to-pay processes that other sophisticated solutions didn’t get to before. Having identified more than 300 common points of leakage, we help companies reach wider, dig deeper, and act faster to get more value out of their source-to-pay data. We pioneered this industry 50 years ago, and today we help clients in more than 30 countries take back $1.2 billion in annual cash flow. It’s why 75% of top global retailers and a third of the largest companies in the Fortune 500 rely on us. For additional information on PRGX, please visit www.prgx.com. 

Media Contact:
Jamee Nelson
PRGX Global, Inc.
770.779.3213
Jamee.Nelson@prgx.com

FAQ

What was the purpose of PRGX's recent webinar?

The webinar aimed to help retailers minimize supplier friction and improve vendor relationships.

When was the PRGX webinar on minimizing vendor abrasion held?

The webinar took place on June 2, 2020.

Who hosted the PRGX webinar on vendor relationships?

The webinar was hosted by Scott Brown and Patrick Miller from PRGX.

How much annual cash flow does PRGX help clients recover?

PRGX helps clients recover approximately $1.2 billion in annual cash flow.

What is the significance of supplier errors in retail?

Supplier errors can lead to significant profit leakage, impacting retailer profitability.