Latest news with #suppliers
RNZ News
a day ago
- Business
- RNZ News
Supermarket sector competition reports like Groundhog Day
Supermarket sector competition reports are like Groundhog Day. Photo: 123RF Analysis - Compare the following two statements: "Some of the signs I am seeing is that suppliers are very fearful of repercussion, there's a lack of trust." And... "My concern is that the power imbalance between the major supermarkets and small suppliers creates a reluctance among suppliers to push back." They are both from Grocery Commissioner Pierre van Heerden - the first from August 2024 , the second June 2025 . The nine months between the statements have produced another round of research, recommendations, and call for submissions with the aim of getting better deals for suppliers and consumers, forcing better behaviour and greater competition between the dominant Foodstuffs and Woolworths chains. The Commerce Commission's original market study was ordered in 2020, the final report published in March 2022, and law changes came into effect in 2023. The regulator looked to assist the transition through educating suppliers, offering them sample contracts to put to the supermarket chains, setting up a whistle blowing facility for those wanting to report bad behaviour, and a stern message to Foodstuffs and Woolworths to behave and play nice or risk the Grocery Commissioner's wrath. And yet the latest report concludes much as the first report - the grocery sector is not competitive and the duopoly keeps throwing its weight around, while the small suppliers remain intimidated. Grocery Commissioner Pierre van Heerden. Photo: The Grocery Commissioner has sought to engage with the two big chains and change attitudes. They have conceded most of the easy ground such as ending land banking, accepting the mandatory code of conduct, and agreeing to look at freeing up their wholesale arrangements. But clearly the original reforms have failed to cut through, hence the move to now strengthen the Grocery Supply Code to stop retailers charging suppliers for stocking shelves or for past-their-best by date groceries in the retailer's control; require retailers to reimburse suppliers if they buy stock at promotional prices, but later sell them at higher prices; and prohibit retailers from retaliating against suppliers who assert their rights under the code. van Heerden told RNZ that he had the resolve and the resources to take legal action when justified , but that bringing about change in the sector takes time. To date, the regulator has gone for the relatively low hanging fruit of misleading prices and advertising . The challenge now is to bring about real change in supermarket actions. A prosecution or two may be needed. The wild card in the supermarket debate is what will the government do. Finance Minister Nicola Willis entered the debate verbal guns blazing in March saying the government was looking at all options to bring greater competition to the grocery sector. She said that could be done either by encouraging a major new player into the sector or possibly a 'nuclear option' of breaking up or restructuring the existing chains. The government has issued a formal request for information (RFI) to accelerate improved competition, and advise on potential regulatory and legislative changes, and whether structural changes would be needed. That was an option which the Commerce Commission shied away from as being too difficult, commercially and legally. Going after supermarket chains assessed as profiteering from consumers reads well in headlines, but will the talk be turned into a walk? Or will it be down to van Heerden to make progress slowly, one supermarket aisle at a time? Gyles Beckford is RNZ's business editor. Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
The Standard
4 days ago
- Business
- The Standard
Sino Group Launches "Supplier Climate Alliance" to Encourage Carbon Reduction in Supply Chains
The "Supplier Climate Alliance" brings suppliers from different sectors together to focus on carbon emissions management, providing training, and a communication platform to assist companies in calculating their carbon footprint and developing strategies.
Bloomberg
26-05-2025
- Business
- Bloomberg
European Gas Rises Amid Supply Cuts at Norway's Troll Field
European natural gas prices extended gains after unplanned capacity cuts were announced at Norway's giant Troll field, further curbing flows from the region's top supplier. Benchmark futures rose as much as 2.2% on Monday, extending four consecutive weeks of gains. Traders have grown increasingly concerned about the availability of fuel supplies recently amid an extensive maintenance season in Norway and risks of budding demand in other gas-consuming regions that it competes with.
News.com.au
26-05-2025
- Business
- News.com.au
‘I don't apologise': Bunnings boss responds to ABC claims
Wesfarmers chief executive Rob Scott has hit back at an ABC Four Corners documentary accusing Bunnings of pressuring suppliers, stifling competition and inflating prices, saying he 'does not apologise for trying to build a successful business'. The episode aired last week and put the beloved Australian hardware giant under scrutiny, highlighting supplier complaints and examining the chain's $19bn revenue and $3.2bn profit in 2024, figures that equate to a 16.8 per cent profit margin, nearly double that of supermarket giants Woolworths and Coles. Speaking on Sky News' Business Weekend, Mr Scott defended Bunnings' operations and rejected the suggestion that the company engaged in unfair practices. 'We pay our team members more than well above the award rates, the relationships we have with our thousands of suppliers are very strong and longstanding,' Mr Scott said. 'Now, occasionally, businesses make mistakes and when they do make a mistake, it's important that they own it and face into it.' Mr Scott also acknowledged that Bunnings' presence in certain retail precincts could put pressure on competitors but maintained this was ultimately a benefit to customers. 'There is pressure on the competition, but at the end of the day someone has to be there for the customer, right?' he said. 'Someone has to offer great value to customers and remembering as well that I don't apologise for trying to build a successful business in Bunnings.' He added that the company was contending with major global retailers and remained focused on maintaining local jobs and opportunities. 'We are fighting tooth and nail against some very big and fierce international competitors in the retail space and we would rather that those jobs and those opportunities stay within Bunnings,' he told Sky News. The ABC report also flagged concerns from suppliers who alleged the company marked up products significantly to boost profits, with critics claiming Bunnings' pricing strategy was misleading. In response, Bunnings said its margins weren't directly comparable with supermarkets because of the nature of its stock and slower product turnover. Bunnings' business practices are also expected to come under further scrutiny as part of a federal Senate inquiry into the market power of so-called 'big box' retailers, including Ikea and Costco. In a statement following the Four Corners broadcast, Bunnings managing director Mike Schneider said the company 'strongly rejects any suggestions made in the program that we engage in anti-competitive behaviour, bullying, underpayment of our team or that we seek to limit consumer choice or the application of our price guarantee. 'We want to reaffirm our commitment to the values that have guided our business for decades which is in direct contrast to the characterisations made by the ABC.'
The Independent
21-05-2025
- Business
- The Independent
Nivoda: the evolution of the worldwide diamond supply chain
Nivoda is a Business Reporter client In an industry where trust and efficiency are paramount, sourcing high-quality diamonds and gemstones shouldn't be difficult. Nivoda is a B2B marketplace transforming how jewellers buy stones. Whether you're a boutique owner or manage a chain of stores, Nivoda's platform is designed to streamline your operations, by offering access to a global inventory of diamonds with just a few clicks. Nivoda has become the go-to solution for jewellers around the world, and here is why. A global inventory at your fingertips Nivoda connects you to a global network of trusted suppliers, giving you access to an unparalleled selection of diamonds, melee and other gemstones. With Nivoda, you're not just limited to local options – you can explore an inventory from across the globe without leaving your store. With real-time updates on stock availability and pricing, Nivoda keeps you ahead of the curve, ensuring you never miss out on sales, as you always have the stone your customers want in stock. Transparent pricing and invoicing Nivoda simplifies the process of dealing with multiple suppliers by enabling you to directly access a vast network of vetted suppliers from around the world, offering pricing that is both transparent and the most competitive in the industry. With the ability to order from multiple suppliers in a single transaction, you can cherry-pick the best-priced stones and only pay one single invoice, in your local currency. Streamlined shipping and logistics With Nivoda, supply chain management is taken care of. Whether you're sourcing from across the street or halfway around the world, Nivoda ensures a seamless experience, handling logistics, paperwork and customs for you. Shopping on Nivoda is as simple as adding your chosen stones to your cart and checking out. From there, your stones are delivered directly to your store, quickly and efficiently, so you can focus on serving your customers, knowing all the administration is handled. Unmatched customer support In an industry which values relationships, we believe in the importance of a personalised service. With the support of your Nivoda Co-Pilot every step of the way, from account setup to placing your first order, you will always have someone by your side. Nivoda's focus is on building lasting relationships with customers, and its support is a key part of that. Nivoda is not just a marketplace, it's a comprehensive business tool. The platform is designed to integrate with your current operations seamlessly. Plug Nivoda Feeds into your website to sell online, or deploy Nivoda White Label Showroom, a virtual showroom giving you access to over two million diamonds, right in your physical store, without having to keep an inventory.
