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InterTrade's solution-oriented research studies, white papers and industry reports offer valuable insights into Supply Chain Management trends and strategic opportunities for businesses.
In today’s fast-paced commercial world, where virtually any product can be bought online, it can sometimes seem like customer loyalty is a thing of the past. In some ways this is true. But upon closer examination we can see that customers are continuing to develop loyalty for products and brands; in fact, they are carefully choosing how and where they spend their money, and consciously supporting the producers they believe in, more than ever before.
In today’s fragmented retail landscape, providing an omnichannel experience for customers is essential to a retailer's success. Major retail brands now understand that creating a seamless shopping experience that incorporates online, mobile, brick and mortar and other channels generates more sales, improves customer engagement and creates a wide array of new branding opportunities. In this report we examine how major retailers including Neiman Marcus, Lowe's, Macy's and The Limited are embracing the tactics and strategies that define omnichannel, and then leveraging them to deliver cutting-edge shopping experiences for their clients.
GS1 US, the American Member Organization of global supply chain standards organization GS1, recently published this case study detailing how InterTrade Systems client Neiman Marcus Group successfully integrated more than 2,700 unique vendors across five product divisions into one unified supply chain. By implementing the GS1 Global Trade Item Number (GTIN) system across the luxury retailer’s silos of inventory, and requiring that vendors of all sizes use EDI-based transaction standards, Neiman Marcus Group was able to streamline supply chain and has realized measurable efficiency gains as a result.
The modern retail customer has access to more apparel choices than ever before, both in-store and online. Today, apparel customers are able to find their preferred products online and are willing to shop around in order to find the ideal item at the right price. Additionally, customers now expect retailers to provide detailed and consistent product information across all retail channels, including mobile device shopping, as well as offer competitive prices for the products that interest them. If an apparel retailer does not meet these expectations, customers will simply take their business elsewhere.
Businesses relying on ‘just-in-time’ supply chain models know that the ability to synchronize product and shipping data with suppliers and customers is crucial to operational success. From product sourcing, shipping and warehousing, to retail shelf and catalog/web-shopping presentation, administrators at each step of supply chain require up-to-date item information in order to facilitate requests in an accurate and efficient manner.
The mechanics of retail supply chain have changed dramatically since the arrival of internet. Email, GPS and electronic payment systems have helped retail businesses improve efficiency, reduce order cycle times and streamline communication between their internal departments and suppliers worldwide. While these well-known digital standards have been widely adopted by businesses and consumers alike, developers and engineers have also created products that exist specifically to assist businesses in their supply chain and product marketing operations. One of the standout products that has been developed to increase efficiency between retailers and suppliers is the electronic product catalog.
Today, retail businesses and their suppliers are facing pressure to improve efficiency within their supply chain. Concerns about transparency, process efficiency, and communication standards between organizations have prompted purchasing departments to question how to address multiple challenges using a single, comprehensive solution. Fortunately, the solution to these problems already exists - and has been road-tested by Fortune 500 companies for nearly fifty years.