Kroger and Walgreens Boots Alliance are teaming up to cut costs by sourcing more merchandise together.
With what they call the Retail Procurement Alliance, the chain retailers will look for overlaps in the products they are receiving so that they can combine their orders. Doing so would increase scale and lower costs. The two will also see if Kroger can start manufacturing items in-house for Walgreens, and vice versa, Kroger CFO Gary Millerchip told CNBC.
Kroger and Walgreens hope more retailers will join their alliance. "If another organization thinks they have significant buying in these areas, they could partner with Kroger and Walgreens to save and reduce waste," Millerchip said.
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