At Enhanced Retail Solutions, we help suppliers map out a strategy of profitability with their retail partners.
Gone are the days when a few samples and a free lunch ensured a profitable season. Today, the supplier has to
do much more. But it isn’t all gloom and doom.
It all begins with communication, and understanding
that the buyer simply has a different perspective on the business. Learning to navigate through their
challenges can turn into opportunities for the supplier.
At ERS, we work with suppliers to improve the communication lines with their buying partners. We have increased
sales and profit for our customers by outlining a plan that includes (but is not limited to):
Increasing the amount of pre-planning and analysis before costs and terms are negotiated on new programs.
Developing financial plans by item or category based on seasonality, the retailer’s promotional cadence and margin goals.
Building guidelines to determine whether it is in the suppliers best interest to accept a program where financial assistance is expected.
Tracking sales, inventory and margin results every week and compare to plan. This way, you always know where you are on the margin line.
Pre-empting the buyer by making actionable recommendations to the buyer on top performing, and poor performing items.
Conducting retail analysis at individual door level to learn how to assort stores based on their preferences for certain products.
With the right tools, a proactive supplier who helps the buyer do their job becomes a very valuable resource. Through increased communication, both supplier and retailer have a consistent understanding of where the business is heading. With a well-built structure in place, you can be free of surprises or extraneous expectations at the end of the season!
If you are a supplier and are overwhelmed at the prospect of putting such a routine into your already busy organization, we are here to help. Our consulting services and software tools automate much of these tasks. Our solutions are cost effective and present the facts with simple clarity. Call today and start adding more dollars to your bottom line.
