Companies in the retail industry are faced with a myriad of tasks daily, such as making order completion alterations, the incorporation of analytics and collaborative product content, all of which can be handled more effectively with the use of an SPS Commerce system. With this consolidated platform, retail businesses will realize numerous advantages such as increased visibility and enhanced production efficiency.
Offering a verified process for retail variation management, an SPS Commerce platform helps companies communicate with their suppliers and associates regardless of any differences in technology or software systems. Among the many solutions SPS offers companies in the retail industry, the following are a few of the major approaches and some highlighted features.
The SPS Commerce platform assists businesses with defining their data format and directs all divisions and vendors through a comprehensive training for onboarding. By providing the technology and web-based portal necessary for a company’s suppliers, this system can synchronize and simplify communications between a retail company and their vendors by helping both entities organize their electronic systems to receive electronic orders in the format the retail company selected.
Product and Catalog Administration
With the use of an SPS Commerce solution, a company’s vendor catalogs can be stored in one place and be maintained in a standardized format. The assortment feature allows suppliers to use the platform’s product content management tool to communicate their product catalogs, along with item descriptions, such as details about color, size, etc., as well as vital shipping and supply chain information. As a result, retail companies and their vendors can create new content and configure new items quickly and efficiently.
The SPS Commerce solution offers interactive dashboards, definitive data regarding point of sale and inventory information to allow retail businesses to optimize their collaboration efforts with their vendors. This feature helps increase sales profits, harmonize inventory levels, and improve order fulfillment.
This system can streamline and consolidate data from a business’ sales, inventory, and supply chain areas with the use of analytics. This makes it easier than ever to make the right decisions and adhere to the constantly altering demands of consumers. Providing extensive options for SPS analytics tools, SPS Commerce enables retailers to address a wide range of potential company issues.
Increased Visibility of Channels
This platform enables organizations to obtain information across all channels. With the use of dashboard reports, retail enterprises have access to insights and data about their departments, locations, categories, vendors, and particular execution areas.
Centralization of Product Information
A major issue in the retail industry is businesses not offering enough information about their products. The SPS system helps businesses centralize their product information, allowing them to obtain increased sales and online conversion rates, as well as release products faster. With more access to product information, this feature also reduces returns and bolsters customer satisfaction and loyalty overall.
The SPS Commerce software enables a retail company to easily transport data electronically, all within a standardized, consolidated format. Get SPS Commerce integration solution executed on your Magento site today.