The 10 simple questions built in the Collaborative Approaches review the existing pillars a retail organisation has built over the years.
Thank you for investing your time in assessing the Vendor’s Engagement effectiveness of your retail organisation . We have listed 10 simple question with a straightforward scoring. Each type of answer gives a number of points. The assessment and recommendations are right after the questionnaire.
Scoring
Yes = 2 No= -2 Don’t know = 0
Maximum Score: 20 points
Minimum Score: 20 points
Assessment Overview
More than 6 “No” answers
Vendors have a lot probably too much influence and independence in their business relationship with your organisation . While we cannot blame a commercial enterprise to promote its products, a certain number of challenges appear when vendors have too much influence:
- Assortment and categories reflect the vendors’ offers more than the retailer’s mission
- Retailer’s shelves are turned into low rotation and low added value product displays
- Inventories skyrocket
- Sales decrease
While the option of letting quite wide options can seem to be an attractive option especially when there is a perception that Teams might not have the required capabilities to efficiently manage the relationship with Vendors its long terms consequences can be very negative for the organisation
- The Stores, physical or digital, lose their identity and attractiveness
- Profitability by suppliers take a dive
- Collaboration projects are only based on price limiting the opportunities to collaborate and co improve the Customers’ experience
Between 3 and 6 “No” answers
The foundations of Vendors Management are in place, denoting a positive drive in the management of the collaboration.
The current evolution of retail activities post-– especially in these covid era, are only increasing stressing how collaboration between retailers and suppliers is becoming a question of life and death of the business. The Collaboration we are talking here encompass all initiatives and innovations where Customer Experience can be improved for the benefits of all stakeholders.
For example:
- Automation of all reporting used for business reviews so more time can be allocated to create project
- Improvement of the Merchandise flow through data sharing to increase products availability and reduce sleeping stocks
- Digitalisation of all tasks related to product listing or promotion, for example, to accelerate speed uplifts
Less than 3 “No” answers
Congratulations! Your organisation has a professional Efficient Vendors Management approach which support Vendors Engagement and delights Shoppers. Have you already thought about providing Vendors with Access to your Data?
Yes!
I am interested in having a more detailed and free diagnostic about how we are engaging Vendors to identify what are the options available to create more collaboration to increase support and decrease costs.
We help regional and family owned companies transform their retail business to remain competitive and drive profitable growth.
To remain competitive and drive growth in a new disrupted world, new approaches are required. Our Teams gather former retailers, consultants and technology talents. We marry retail expertise with people, processes and data to support Leaders in their Transformation Journey.
Capabilities
- Transformation Journey
- Commercial Offer
- Customer Engagement
- Teams Development
- Digital Readiness
- Operations
- Vendors Engagement
- Advanced Analytics
