Yum China Unveils New Platform For Supplier Recruitment With Speed And Transparency

Yum China Holdings, Inc. YUMC shares are trading slightly lower in the morning session on Friday.

The company is making significant strides in modernizing its supply chain with the official launch of its digital supplier recruitment platform.

Unveiled at the 2nd China International Supply Chain Expo, the platform invites high-quality enterprises globally to join the company’s expansive supply chain network.

This platform marks a shift from traditional supplier selection to a data-driven and interactive process. By enabling potential suppliers to submit their credentials online, Yum China simplifies the engagement process, significantly reducing the time and manual effort required for supplier evaluation.

It also promotes transparency and fairness in selection, aligning with the company’s “Spend Better, Buy Better” initiative aimed at enhancing operational efficiency.

Since its pilot launch in April 2024, the platform has already attracted applications across more than 30 categories, covering over a third of the company’s total categories.

Also Read: US Stocks Likely To Open In The Green To End November On A High: Are Markets Set For A Santa Claus Rally In December? Analysts Decode

At the launch ceremony, Yum China also signed agreements with both domestic and international companies, focusing on sourcing and product innovation to improve the culinary experience for its customers.

Yum China’s supply chain management system already includes over 800 core suppliers across diverse categories, such as food ingredients, beverages, and packaging materials. Leveraging this vast network, the company delivers safe and diverse menu options tailored to the tastes of Chinese consumers.

For FY24, Yum China plans to open 1,500 to 1,700 new stores, invest $700 million to $850 million in capital expenditures, and return $1.5 billion to shareholders through dividends and share repurchases.

Price Action: YUMC shares are trading lower by 0.73% to $46.44 at last check Friday.

Read Next:

• GOP Megadonor Ken Griffin Slashes Citadel’s Palantir Stake By 91%, Bets Big On Nvidia As Jensen Huang-Led Company Rises Over 180% In 2024

Photo by aleks-dorohovich- for Unsplash.