How Point-of-Sale Data can help decrease inventory and increase vendor performance

Several Retailers are now discussing the merits of implementing more POS information to their vendor community in an effort to help better maintain individual inventory levels and help with their various selling partners. Vendors are also expecting more from the vendors in return, with the focus being on responsibility and vendor record carding to improve key production pointers.

The tradition of Retailers providing vendors with POS data has survived for some time immediately, but the main variation is the excitement of the vendor community to better help with the merchandiser, with improved visibility into the original sales of their items that leave the appearance center. As a result of this, vendors have begun investing in technologies like Point-of-Sale Softwares to give them this valuable insight. The retailers are related to obtaining the POS training to help keep their business relationships, be connected to ship items whenever the retailers place their rules and perform greater in vendors account carding standards. With this held in mind, Retailers have been exploring with a quality of new technologies that can efficiently allocate this data and this has lead to the increasing interest in Retail POS Analytics.

Retailer Gateways

Retailers have started setting up their own online, vendor information gateways and this has improved a lot more in recent times. The main purpose of these gateways is to present reliable and specific sources of up to date supply chain information for the vendors. Still, they greatly in the duration of how functional or helpful the information is for the vendors. The main problem that appears due to this is that vendor work with dozens of Retailers, and the process of going online and logging into each unique retailer’s portal is an inefficient use of time and resources.

While the retailers implement the vendors with POS data in the application of supply chain account with the help of the gateway, it is up to the vendor to manually assemble the information and combine it with the transactions from other retailers. Only then can they actually understand how their goods are performing.

Use of Gateways vs Third Party Analytic services

Now we analyze the use of gateways versus third-party analytic services. The preponderance of the outsourced services has begun taking advantage of a Software-as-a-service to help reduce the setup time and relieve a vendor’s internal resources of data combinations challenges. POS is greatly helpful for Retailers considering they don’t have to make a business property in a gateway solution. POS contains timely POS information from their retail customers and hence it is more apt to be used by the vendors. POS knowledge solutions have become very influential and insightful to both the user and the retailer, as they help to maintain proper inventory levels and improve sell-through and vendor scorecard ratings with increased fill rates and on-time deliveries.

I would like to focus on the experience that vendors now a day are proactively looking for ways to efficiently use their retail customer’s POS data to help improve their performance. From the vendor’s point of view, a Portal solution is limited since the overall value it provides in terms of its ability to operate as an analytical tool. Services presented by Retail Point-of-Sale Software resolutions like Asimot produce vendors with a more expansive view of their supply chain across various retail customers with the help of Retail POS Analytics and the retailers can provide the vendors with the same information at a lower cost as well.

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