Suppliers and buyers working together collaboratively as a team can have a dramatic effect on achieving business goals and increasing sales. Here is how to take your relationship to the next level and become a true retail partner, rather than simply an order placer and an order fulfiller.
Take Advantage of Your POS Data
Point of sale data is absolutely critical to retail. Used correctly, it tells both the retailer and supplier not only what the consumer demand is, but critically where that demand is, location by location, thus ensuring the stock levels can be matched to consumer demand.
How do you leverage all the data to drive tangible change and improve customer relationships? With krunchbox, your POS data is democratized. Transparent information results in one version of the truth, actions aligned with high value opportunities and high impact decisions. Krunchbox bridges the gap between suppliers and retailers, forming a smooth collaboration of data and insights to improve business performance and efficiency for both parties.
Replace Conflict with Collaboration
Collaboration is a key part of the supplier-retailer relationship and a common characteristic of successful companies, but all too often retail suppliers and retailers are on opposing teams. The key is to work with your retailers, not against them.
Krunchbox was designed to facilitate collaboration between buyers and suppliers using point of sale scan data, helping them work more efficiently together to help fix out-of-stocks, weight stock for upcoming promos, identify slow moving stock and more. Collaborating around POS data changes the axis of dialogue between a retailer and its suppliers.
Share Key Insights
Once you’ve found something interesting or critical in your data, it’s important to share it with those in your supply chain who can help you capitalize on it or fix it. Understand how your products are performing in every location and gain insight from krunchbox dashboards, reports and more. Share exception analysis with your colleagues at the click of a mouse.
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Need to suggest additional orders to your retail buyers? Krunchbox can generate sophisticated replenishment recommendations, by article, by store, so you can confidently propose solutions to your retail buyer, armed with the data analysis to back it up. Krunchbox helps you head into buyer meetings with the knowledge you need to make impactful decisions that increase sales for both you and your retailers.
Krunchbox can help you improve your relationships with all of your retailer partners, be they online, physical or both. By analyzing your electronic point-of-sale data, krunchbox empowers you to increase your sales, optimize your supply chain and drive higher return on investment.
Sign up for a demo of krunchbox today and see what it can do for your business.