Improving Item Management

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Information about Improving Item Management
Education

Published on March 12, 2014

Author: spscommerce

Source: slideshare.net

1 IMPROVING ITEM MANAGEMENT TO WIN IN OMNICHANNEL INFINITE RETAIL POWERTM

INFINITE RETAIL POWER™ The Impact of Omnichannel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Item Management Has Always Been Important . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Today’s Digital Consumers Demand It All. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Consumers Expect More Online. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Satisfying Consumers Makes Managing Item Data More Complex . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 In This New Era, More Robust Item Data Is Key . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Reimagine Item Management . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Item Management Services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Suppliers Connect with Multiple Retailers and Data Pools . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Item Management for Suppliers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 One Connection Enables Retailers to Connect to Multiple Suppliers . . . . . . . . . . . . . . . . . . . . . . . . 12 Item Management for Retailers. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 The Impact of Streamlined Item Management. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 Is Your Item Management System Ready for an Omnichannel World?. . . . . . . . . . . . . . . . . . . . . . . 15 TABLE OF CONTENTS This e-book is published by SPS Commerce, a leader in retail cloud services. Find more resources at www.spscommerce.com @sps_commerce

INFINITE RETAIL POWER™ THE IMPACT OF OMNICHANNEL O N I T E M M A N A G E M E N T 2. Improving Item Management BRAND An omnichannel strategy creates brand visibility, resulting in a seamless experience for consumers wherever they shop. ITEM MANAGEMENT IS THE ATOMIC UNIT OF RETAIL

INFINITE RETAIL POWER™ 3. Improving Item Management ITEM MANAGEMENT HAS ALWAYS BEEN IMPORTANT ( A N D C O M P L I C AT E D ) ALTHOUGH ITEM MANAGEMENT IS THE FOUNDATION OF RETAIL, IT PRESENTS MANY CHALLENGES: >> Retailers struggle to streamline and automate product information from multiple vendors, for hundreds of items >> Suppliers must manage item data for hundreds of products >> Suppliers need to make the latest product data readily available to retailers to increase sales product rollout delays lost sales invoice issues stocking problems warehousing challenges consumer frustration shipping delays As much as 30% of the item data in retail catalogs is incorrect,1 leading to: 1. GS1 Australia Data Crunch Report, 2011.

INFINITE RETAIL POWER™ 4. Improving Item Management TODAY’S DIGITAL CONSUMERS DEMAND IT ALL ( A N D P E R F E C T I O N , T O O ) C O M P E T I T I V E P R I C E S Plenty of item D E TA I L Limitless product C H O I C E S & VA R I AT I O N S Faster order F U L F I L L M E N T

INFINITE RETAIL POWER™ 5. Improving Item Management CONSUMERS EXPECT MORE ONLINE T H E E-S TO R E E X PE R I E N C E M U S T E XC E E D T H E I N-S TO R E E X PE R I E N C E Complete item descriptions Detailed product specs Consumer reviews Warranty info Side-by-side product comparison AND if consumers don’t get what they need at your site, your competitors are only a swipe away

INFINITE RETAIL POWER™ BAD DATA PREVENTS RETAILERS AND SUPPLIERS FROM DELIVERING THE ENDLESS AISLE OF PRODUCTS THAT CONSUMERS EXPECT Marketplaces have evolved from hundreds of products in-store to thousands of products online SATISFYING CUSTOMERS MAKES MANAGING ITEM DATA M O R E C O M P L E X T H A N E V E R 6. Improving Item Management Suppliers have a bigger opportunity to market their products online, yet they have to provide more item detail

7. Improving Item Management INFINITE RETAIL POWER™ IN THIS NEW ERA, M O R E R O B U S T I T E M D ATA I S K E Y T O : >> Boosting sales >> Keeping consumers loyal >> Differentiating yourself from the competition >> Enhancing collaboration with trading partners >> Meeting the demands of a faster, more nimble supply chain

8. Improving Item Management INFINITE RETAIL POWER™ HOW CAN RETAILERS AND SUPPLIERS REIMAGINE AN ITEM MANAGEMENT STRATEGY THAT: AND SUPPORTS MORE SALES TODAY? ENABLES THEM TO SCALE FOR FUTURE SUCCESS?

9. Improving Item Management INFINITE RETAIL POWER™ ITEM MANAGEMENT SERVICES THE ELECTRONIC SOLUTION THAT ALL TRADING PARTNERS MUST HAVE TO COMPETE IN THE NEW CONSUMER-DRIVEN WORLD OF RETAIL. ITEM MANAGEMENT SERVICES

10. Improving Item Management INFINITE RETAIL POWER™ Retailer A Retailer B Retailer C Data Pool A Data Pool B Data Pool C SUPPLIERS CONNECT W I T H M U LT I P L E R E TA I L E R S A N D D ATA P O O L S Supplier I T E M M A N A G E M E N T S E R V I C E S

11. Improving Item Management INFINITE RETAIL POWER™ I T E M M A N A G E M E N T S E R V I C E S G I V E S U P P L I E R S THE POWER TO SELL MORE PRODUCTS >> Manage an array of product data and provide it to all retailers >> Easily upload data, including digital assets, warranty guides and PDFs >> Normalize and validate item information >> Flexibly support XML-based sources of information, as well as legacy methods like online, spreadsheet and EDI

12. Improving Item Management INFINITE RETAIL POWER™ ONE CONNECTION E N A B L E S R E TA I L E R S T O C O N N E C T T O M U LT I P L E S U P P L I E R S Supplier B Supplier A Retailer Supplier C Supplier D I T E M M A N A G E M E N T S E R V I C E S

13. Improving Item Management INFINITE RETAIL POWER™ I T E M M A N A G E M E N T S E R V I C E S G I V E R E TA I L E R S INSTANT ACCESS TO PRODUCT DATA ACROSS THEIR ENTIRE VENDOR COMMUNITY >> Access an array of data from multiple vendors >> Reduce time-to-market for new products >> Receive, review and accept item data from all trading partners in a single, centralized repository >> Easily manage e-commerce attributes for online stores >> Eliminate dependence on limited EDI data >> Gain visibility into suppliers’ entire product line

14. Improving Item Management INFINITE RETAIL POWER™ >> Higher consumer satisfaction >> Strengthen brand loyalty >> Fewer lost sales >> More repeat business >> The infrastructure to win in the new world of omnichannel THE IMPACT OF STREAMLINED ITEM MANAGEMENT

15. Improving Item Management INFINITE RETAIL POWER™ I S Y O U R I T E M M A N A G E M E N T S Y S T E M READY FOR AN OMNICHANNEL WORLD? L E A R N H O W TO EMBRACE THE FUTURE OF ITEM MANAGEMENT AND GROW YOUR BUSINESS WITH TODAY’S INCREASINGLY SAVVY CONSUMER Twitter YouTube LinkedIn | P. 612-435-9400 | spscommerce.com Discover the industry's leading item management solutions at spscommerce.com

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