Having an analytics strategy makes a huge difference in supplier collaboration
Geneva, Switzerland (PRWEB) April 14, 2011
Manthan Systems, a leading provider of analytic solutions for the retail supply chain, identified Analytics as a principal driver for enhanced value and greater adoption of retail supplier collaboration, at the recently held NGR Retail Summit conference in Geneva, Switzerland. These findings were the result of retail supply chain research Manthan undertakes with various clients and industry analysts, to improve the usage of analytics in specific retail business processes.
“Having an analytics strategy makes a huge difference in supplier collaboration because retailers now have a closed-loop framework to measure and optimize the performance of various collaborative strategies and tactics undertaken by retailers and their suppliers. This approach has helped many of our clients bring consumer insight back into key decisions in the collaboration process, as well as reduce significant losses incurred in poor implementation of good collaborative strategies. In the longer run, we’ve seen improved confidence among suppliers in exploring higher levels of collaboration with retailers”, observes Manthan’s CEO Atul Jalan.
Manthan’s view is supported by a 2011 Gartner research (Wal-Mart Consumer Insights Division Will Increase Pressure on Suppliers) which highlights recent measures adopted at retail giants Wal-mart, Kroger, Tesco and Best Buy towards focused application of advanced analytics on consumer insights in collaborative initiatives with suppliers. Retailers are also expected to drive bargains and gain greater leverage from suppliers on pricing and promotions backed by superior market insight gained from retail analytics. The Gartner study also predicts that retailers will increasingly benchmark the analytical capabilities in their supplier collaboration solutions against industry best practices.
Citing technology’s role in enabling higher levels of collaboration, Jalan says, “New generation supplier collaboration solutions with in-built analytical capabilities serve as a comprehensive performance measurement framework for retailers to monitor, track and take corrective action towards successful collaboration outcomes. Today’s solutions should move beyond automating procure-to-pay lifecycle, to providing tactical optimization solutions in specific areas like inventory optimization, promotion planning, new product revenue maximization, and reducing supply lead times, where actionable information at both ends can result in better strategies.”
More detailed analysis on the key aspects of supplier collaboration is provided in Manthan’s article ‘Supplier collaboration in Retail’ at http://thoughts.manthansystems.com/2011/02/08/supplier-collaboration-in-retail/
About Manthan Systems
Manthan Systems produces cutting edge analytic solutions for global retail and CPG organizations. Manthan's award winning products span a wide range of retail segments and formats, having transformed decision making for some of the biggest names in retail across the globe. For more information, visit http://www.manthansystems.com.
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