The existing level of retail collaboration with suppliers lacks mutually intertwined processes for co-strategi...
Retailers have a treasure trove in their retail trade data, which if shared with the suppliers though proper data sharing platforms can generate a steady revenue stream.
Improved visibility and streamlined processes can help retailers optimize safety stock levels. It will not only improve inventory management and assortment at store level but also bring accuracy in demand forecasting.
Retailers can better utilize supplier funds for promotions, share promotion insights real time and recover the investments made for promotions much faster with portal based collaboration.
If there is one reason as to why retail companies can have a healthy bottom line, it is because of their ‘like-for-like’ (LFL) growth. But sustaining growth in the LFL stores is a challenge faced across geographies and retailers.
As per a Harvard Business Review report, if shoppers fail to find a product that they are looking for, 7% to 25% of them will not replace it with a substitute and around 21% to 43% of them will go to another store to buy the item.
The existing level of retail collaboration with suppliers lacks mutually intertwined processes for co-strategic development and a focus on enhancing shopper experience.
The supply chain collaboration model has got buy-ins from all types of businesses belonging to diverse sectors. But not every alliance between retailers and suppliers has flourished.
In the growing competitive market the success of retailers and suppliers is completely driven by the collaborative and proactive action that they take in the competitive market. Every sqft cost for the retailer should be optimized and sharing actionable information with all the stakeholders on the go is going to be the key differentiator. The […]
Effective supplier collaboration can optimize the procure-to-pay cycle, streamline the process, and increase transparency for retailers and suppliers.
Supplier Collaboration can enable cost reduction, speedy fulfillment, downsized inventories, and many other benefits for retailers, suppliers and shoppers.
To stay on top of the chain, fashion retailers must keep their supply chains malleable, efficient, and well-coordinated.
Analytics can make an incredible difference in the way Fashion Retail works, right from choosing the best pricing and markdown strategies to predicting the next season trends.
Fashion Retailers can trim the store while increasing the assortment, reduce the inventory while never going out-of-stock and above all boost the customer experience with ‘endless aisles’.
There’s no denying the opportunities analytics has opened up for retailers over the past few years. See how you can improve collaborative supply chain with predictive analytics.
In a fiercely competitive retail market, suppliers are using downstream data from retailers to gain scarce shelf-space, win customer wallet share and drive supplier collaboration.
The recently released 2020 Future Value Chain Project identifies 12 trends that are shaping the value chains of the future. In this blog, I will discuss three of these trends which I think have particular relevance to the retail industry. Customers adopting technology: One of the key trends that will impact the retail business is […]