PROCUREMENT TECHNOLOGY
Big Lots , headquartered in Columbus , is a US-based discount retailer living by its mission statement : to help people live BIG and save LOTS . The store offers a wide range of products , allowing customers to buy everything from a new mattress to home décor under the same roof . This commitment to providing a diverse array of goods at competitive prices underscores its dedication to delivering exceptional value to customers . Central to achieving this is Big Lots ’ robust procurement strategy , which plays a vital role in ensuring the efficient operation of its supply chain .
Juan Guerrero – Senior Vice President , Chief Supply Chain Officer , Big Lots and Kevin Kuehl – Senior Vice President , Head of Merchandising , Asia Global Sourcing Offices spoke to us about its procurement strategy .
Delivering customer value : The role of procurement at Big Lots Big Lots ’ procurement strategy is anchored in a dedication to building and maintaining strong relationships with suppliers , ensuring a seamless supply chain and a continuous flow of high-quality merchandise .
Big Lots operates five distribution centres in the US , each with more than 1 million square feet strategically situated in proximity to other big CPG distribution centres and manufacturers . This approach guarantees value for customers while maintaining incredibly competitive pricing . Through strategic
BARGAIN ITEMS ACCOUNTED FOR NEARLY 60 % OF THE COMPANY ’ S SALES FROM EARNINGS THE DISCOUNT RETAILER RELEASED ON THURSDAY , 7 MARCH , 2024 .
sourcing initiatives , Big Lots meticulously evaluates potential partners , considering factors such as quality , reliability , sustainability practices and costeffectiveness . This thorough evaluation optimises its product assortment and bolsters its market position . Procurement and sourcing play pivotal roles in delivering value to Big Lots ’ customers through sourcing a diverse range of products – providing a one-stop-shop approach that includes distribution of excess and closeout inventory for furniture , décor and pantry items .
Big Lots is modernising the supply chain to support more closeout and bargain deal flow to ensure customers always find new assortments at unmistakable values across the country . While also making big moves with its sourcing strategy with new sourcing offices overseas in Shanghai and Ho Chi Minh City to work directly with major suppliers . Altogether , these moves ensure Big Lots continues to provide customers with quality products at unbeatable prices through our innovative approach and commitment to responsible sourcing .
144 August 2024