Future of US Procurement & World Procurement
US Supply Chain & Procurement
President-elect Donald Trump and Alibaba’s founder, Jack Ma, met this week to discuss the potential for creating one million US jobs by allowing American businesses to sell to China through the Alibaba platform.
One million US Jobs may sound like a far-fetched dream, but a closer look at the data shows that this plan is very plausible.
China’s massive middle-class population (300 million and growing), with an increasing desire for foreign goods, opens a door of opportunity for international sellers in the United States.
Retail e-commerce in China is expected to reach $840B in 2021, according to Statista DMO. If future growth and international preferences follow expectations, one million US jobs could well be on the horizon for the US economy.
US Procurement and International Supply
How Will Alibaba Affect Your Business?
Every e-commerce retailer should be aware of upcoming potential opportunities and Alibaba has massive potential.
If the estimates are correct, this could be a game-changer for many US retailers. Are US companies ready and capable of handling international supply chain?
The good news is today’s retailers have better access to procurement resources than ever. For improved spend visibility, supplier relationships, and easy-to-use procurement, e-procurement and mobile-ready procurement will help retailers be ready to meet the demand that will help their business grow.