One Global Supplier’s Journey From Data Discrepancies to Smart Data Tracking with bSync
Problem and Background
A global supplier of hundreds of products across dozens of categories was struggling to get its goods on big-box retail shelves. Instead of seeing sales and profits, this manufacturer’s orders were being rejected because its data did not match the retailer’s agreed-upon requirements. As if lost sales weren’t bad enough, this supplier was then charged steep penalty fines. If the data would have been correct in the first place, products would have been accepted, no fines would have been charged, and products would be available for consumers to purchase. Painful product rejections are often caused by data discrepancies between the supplier and retailer, resulting in revenue losses of millions of dollars. The supplier was shipping between $.5 billion to $1 billion of products through just one big-box retailer and was suffering order cuts of up to 2% due to data mismatches. There had to be a better way to handle data matching.
What Causes Data Mismatches?
Every product from shampoo, to toothpaste, to canned soup carries numerous pieces of digital information. Getting all these products on retail shelves is complicated. All the pieces of data on the supplier’s products need to reconcile with agreed-upon expectations. Correct data allows orders to be accepted and put on store shelves. One mismatch halts the sale. Vertex’s client had been juggling hundreds of products across multiple categories to a giant, popular retailer. Plus, new product introductions and price changes added extra challenges, causing data mismatch problems to compound quickly.
From Manual to Automated Processes
Vertex’s client had been manually handling all these data requirements, often with detrimental consequences. By not knowing where to find the most current and accurate information, Data and Item Analysts had been hunting through spreadsheets, emails and memos to track down the data. They weren’t always successful. Vertex Solution Scientists knew these analysts were doing the best they could, but also recognized that by eliminating manual steps, accuracy could be significantly improved. Vertex set out to automate the process and build the right solution.
The result became bSync, a convenient one-stop shop for Analysts to apply metadata during item set up, ensuring that all information is correct and meets the proper requirements. bSync eliminates surprises by identifying price exceptions before they occur. All the information is in one place, not numerous emails, spreadsheets, and memos.
Vertex Solution: bSync
Vertex built bSync, a smart data tracking solution that helps manage big-box retailers’ data requirements with ease. Vertex’s supplier client reduced managed exceptions from 50% to 20% & unmanaged exceptions from 20% to 5%. That’s a huge savings. With its wide array of features, bSync enables a big-box supplier to drastically improve efficiency. bSync gives data analysts the ability to efficiently set up new items, make product information revisions and track this process to its completion. The improved digitized processes reduce the risk of human errors and lost sales.
Results: Accepted Orders, Increased Internal Efficiency, Reduced Penalty Fines
Our client is now succeeding in a highly competitive retail ecosystem. The result is a dramatic reduction in order cuts due to incorrect product and pricing information with retailers. Our client is on track to benefit with a 30% increase in internal efficiencies, and a 70% reduction in order cuts and supply chain penalties. Improving speed to shelf and reducing non-compliance are additional benefits of using bSync.
By eliminating inefficient manual processes, bSync has enabled analysts to accurately manage all the data needed for item introductions, price changes, compliance, promotions and any other necessary processes. bSync provides a convenient one-stop shop for analysts to apply metadata to products, ensuring that all the information is correct and meets retailer expectations. By replacing manual processes with a cloud-based digital platform, mistakes are avoided. Products are accepted. Items get on retail shelves and sales happen.
If you are looking to increase your order acceptance rates at big-box retail outlets, you need bSync. Not only will your products get on shelves and into shopping carts quickly, but you will also avoid paying penalties. Your internal efficiencies will improve.
What bSync Users are Saying
“People do not get what is involved in pushing an item to [a giant retailer]. bSync makes it easy to manage processes by bringing it all together in one place.” – Senior Item Analyst
“I understand the value bSync delivers. I like it because it can be used securely for other customer teams too.” – IT Director
- Automated workflows: bSync simplifies multi-level workflows and creates customizable configurations.
- Exception management: bSync reliably manages exceptions and increases accuracy confidence.
- Price tracker: bSync catches any price discrepancies, allowing analysts to reconcile them before the product information is pushed to the retailer.
- Approval process: Customized approval processes handle pricing exceptions/discounts.
- Reports and dashboard: Intelligent dashboards and reports provide the analyst an edge to make quick decisions and take the necessary actions.
- Email alerts: No surprises. Teams are alerted to upcoming reviews, status changes and approvals.
- Integration: Enterprise system integration allows seamless information processing.
- Collaboration: Tracking approvals, messages and assignments allows multi-function collaboration.
- Visibility: A 360° product view allows real-time visibility so users can track approvals, exceptions, process information, delays and communication trails. Base and net prices are visible.
- Significant reduction in order cuts (One supplier saw a 70% decrease in the first year.)
- Significant increase in accepted orders
- Increase in internal efficiencies
- Reduced supply chain penalty fines
- Reduced order disputes
Vertex is a business and technology consulting ﬁrm that helps customers transform their business processes with leading edge technology. Learn more at www.vertexcs.com.
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