Procurement Software for Retail Industry
The time of omnichannel retail, fast and free-shipping and consumer supremacy is upon us!
Consumer behavior is changing dramatically and retailers across the globe are finding new ways to survive and benefit from the disruption. On the opportunity side, retailers see new markets opening due to rapid economic and income growth in emerging economies, technologies that easily transcend global market barriers and Big Data analytics that yield unprecedented visibility into consumer behaviors and preferences.
On the challenge side, retail brands are coping with long-term uptrend in commodity and other raw materials input prices, rapidly shifting global supply-chain and cost-trend dynamics and unprecedented consumer insights and abilities to rapidly find, compare and share information around product pricing, quality, supply-chain practices and so forth.
In this scenario, retail sourcing and procurement teams need to be fast, nimble and exceptionally well informed so they can:
- Boost operating margins and brand equity simultaneously.
- Drive differentiation via private-label sourcing, customer experience and other strategies.
- Empower retail brands to harvest opportunities from Big Data analytics, ensuring the right products are always available where and when needed.
Whatever differentiation strategies and operating decisions a retail brand may choose, Zycus’ advanced sourcing and procurement offerings will help to deliver on business objectives in efficient and competitive ways, keeping your retail brand ahead of the curve in an industry of 'fast followers'.
Retail Industry Challenges
Retailers need enhanced and strong sourcing capabilities to counter:
- Rising and increasingly volatile commodity costs, fuel prices and labor rates.
- Increasing price, quality and supply-chain transparency due to mobile technologies, omnichannel retailing and consumer bias toward green and ethical sourcing practices by retail brands.
- Mounting supply-chain complexity with new markets opening for both supply and demand.
How We Can Help
Zycus’ SaaS based modules for the Source-to-Pay cycle help retail sourcing and procurement functions to achieve competitive advantage.
They help you by extracting actionable information from complex sourcing scenarios, enabling and controlling global supplier discovery, by spotting key cost and supplier performance trends and risks ahead of market and enabling supply-chain transparency, strong governance and ongoing performance management.
- Use granular SPEND ANALYSIS to design, create and optimize cost-competitive global footprints in support of private-label sourcing and other strategies. Concentrate business in markets and with suppliers offering ethical/socially responsible practices, lowest-costs, high-performance transportation and logistics networks, favorable government incentives and so forth. Read More
- Use eSOURCING to gain agility and run ahead of the curve in discovering globally competitive suppliers, spotting shifts in labor-cost, commodity price and other trends and controlling sourcing decision making to ensure ethical, socially responsible, high-performance and lowest-cost supply networks. Read More
- Use CONTRACT MANAGEMENT to enable nimble management and compliance to commercial, performance and risk-management terms across borders and also to systematically and consistently address variable governmental, legal, regulatory and taxation frameworks. Read More
- Use SUPPLIER MANAGEMENT software to build and protect brand integrity in a hyper-connected world. Control supplier discovery, auditing, credentialing and onboarding activities, and actively manage supplier performance and supply-related risks down through multiple supply-chain tiers. Read More
- Use FINANCIAL SAVINGS MANAGEMENT to document the impacts of sourcing and procurement efforts on profit and loss and other financial statements. Read More
- Use PROCURE-TO-PAY (P2P) to effectively and efficiently process smaller, more frequent order quantities (driven by inventory optimization and consumer customization trends) and to enable greater supply-chain responsiveness to Big Data insights around consumer behaviors and preferences. Read More