Retailers and suppliers need to consistently collaborate and share information to drive customer satisfaction, loyalty and sales.
Retail analytics provider Market6 has released Market6 Vantage, a suite of applications designed to automate and simplify joint business planning and retail-supplier collaboration. The suite automates the development and maintenance of joint merchandising plans and enables retailers and suppliers to share information more seamlessly and standardize planning processes.
Market6 Vantage includes three modules: Insight, Plan and Evaluate. Vantage Insight allows businesses to automate data collection and integration to establish a fact-based view of inventory and sales. With the module, retailers and suppliers can determine whether or not past results have met expectations and overall goals. With the Plan module, both parties can run simulations to test the potential impact of plans.
Vantage Evaluate is designed to track and report in-flight execution daily at the item and store level. The module alerts retailers and suppliers when results start to deviate from the initial store plan, pinpointing the exact cause of the issue so action can be taken immediately.
“Consumers today expect not only a flawless shopping experience, complete with the perfect assortment of products, helpful friendly store personnel and a convenient comfortable store atmosphere, but also prices that match their expectations of value," said Jim Kelly, CEO of Market6. “The only way retailers and suppliers can meet that increasingly high expectation is to work closely together to deepen their understanding of shoppers and deliver targeted merchandising programs that are more efficient and effective than in the past.”