Today's retailers are evolving into supply chain experts, tuned into every nuance of raw material supply, production milestones, and strategies for responding quickly to real-time trends and declines.
Buyers and Merchants don't simply "cut a purchase order" and sit back — they are now calculating Initial Mark Up (IMU) percentages based on the estimated landed costs, tracking critical deadlines, understanding what collections and SKUs are impacted when milestones are missed, and quickly evaluating transportation options and their cost/margin implications.
When the product portfolio's profitability is the responsibility of the Merchant and Buyer, the Purchase Order becomes critical and increased visibility and collaboration with vendors, factories and logistics professionals could mean the difference between getting trend-right products to consumers at the right time or having a floor set stocked with discounted merchandise.
As the system of record for order management TradeStone Order Management unites domestic and import orders into one single solution. From pre-buy to replenish, the solution handles sample, factory, customer/divisional and replenishment ordering, taking weeks out of the order placement and collaborative confirmation process.
"Now with TradeStone, all our purchasing processes are the same, whether we're buying internationally or domestically. And everyone can manage all the vendor collaboration necessary to get products to market as quickly as possible.
— Sourcing Director, Specialty Retailer