Kroger and Walgreens to Buy Products Together to Cut Costs

Grocery store Kroger and drug store Walgreens are teaming up. In an effort to cut supplier costs, the two companies want to start buying merchandise together, CNBC reported. The chain retailers will call this partnership the Retail Procurement Alliance, and will have them identifying overlap in products that they both are receiving so they can place their orders together. This will increase scale and lower costs for both parties, as well as reduce waste. The alliance will also evaluate if it's possible for Kroger to start manufacturing items in-house for Walgreens and vice versa, CNBC reported. Furthermore, Kroger and Walgreens hope that other companies will join the Retail Procurement Alliance in the future.

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