From a Logistics perspective, all retailers operate in an environment of rapidly changing consumer trends and more competitive margins. The consequences of poor delivery can result in a lackluster selling season and financial disaster.
In order to take advantage of the price differentials associated with global sourcing, retailers need to be extra vigilant about their logistics choices.
Finance and Accounting considerations are also significant.
In the retail world, the "perfect order" is rare. There are hundreds of product specification iterations: colors, sizes, packaging changes for new promotions, etc. which are regularly shipped just as soon as production is complete to help satisfy rising customer demand. This means that orders and invoices often don't match up, which can lead to audit failures, refunds and chargebacks, not to mention penalties that must be levied for deliveries that do not meet service level agreements.
TradeStone's Global Trade Management solution integrates logistics activities with the sourcing and ordering process, such as packing lists, advance ship notices, bills of lading, and the downstream financials including costing, invoicing and payment processing. The solution provides buyers, merchants, suppliers and banks with a single view of financial and logistics information across the entire purchasing and delivery process.
Read Apparel Magazine's October Cover story and learn how TradeStone is helping The Children's Place deliver new collections of coordinated outfits to store 50 times a year.
"With TradeStone, the benefits we've seen have been a little quicker to market, establishing processes and procedures we did not have before, the ability to actually see a product from the inception all the way through the logistics perspective and bringing it into our DC."
— Steve Kitay, VP of Product Managment, Guitar Center