We hear it constantly from retailers and wholesalers around the world, “We need to capitalize on our own brand, our own products.” This is the new fundamental reactivity within the market: private label brands drive margins.
But creating private labels requires a new core competency in sourcing, global order management, quality management and product lifecycle management. How did companies like American Eagle, Boots, Circuit City, Kohl’s and Macy's gain this core competency? They turned to TradeStone Software.
TradeStone’s MLM suite enables the world's most successful retailers and wholesalers to bring their innovative and highly profitable private label products to the market at record speeds. Built with a flexible data-anywhere architecture that layers across existing IT investments (SAP, Oracle/Retek, i2, JDA, Island Pacific, PDM systems, etc.), TradeStone simplifies the buying, sourcing and selling process.
TradeStone's one-two punch for retailers and wholesalers:
- Margin: The new core competency in quality management, sourcing, global order management and PLM delivers innovative products with at least 20 additional points to margin (IBM estimates as much as 85 more margin points in some cases).
- Velocity: The speed at which these products can be designed, produced and shipped allows retailers and wholesalers to design even more collections and programs. This means doubling or even tripling the offerings to consumers, allowing stores to sell more items at full price and keep the consumer coming back for more.
The TradeStone Solutions:
TradeStone PLM for Retail is designed specifically for retailers and wholesalers who are more concerned with rapid product design and delivery versus the intricacies of manufacturing highly engineered products. Starting with the buy program/concept, organizations develop product brief specifications to build their product portfolios and electronic showrooms. Line review/ pre-buy capability support comparisons of plan to commitments while establishing and tracking production, testing and WIP milestones.
TradeStone Sourcing ensures rapid adoption across the supply chain by breaking the sourcing process into easy to understand steps and providing a collaborative tool for online communication among retailers, agents, suppliers and factories. TradeStone Sourcing supports the intricacies of the sourcing process while masking its complexity. Its best-in-class functionality incorporates the detailed product definition and specification into requests for samples and quotes that are distributed to suppliers. TradeStone’s Industry Engines review supplier responses and calculate costs, establish workflow, schedule milestones and rank supplier performance to provide bid comparison and supplier selection.
TradeStone Quality Management establishes the standards, measurements and quality criteria that factories and merchandise will be tested, evaluated and graded against. Inspection results are compared to pre-established requirements to ensure compliance on a product, social, legal and ethical level. TradeStone is the only company to embed the quality management process into early stages of product design to ensure quality products are delivered on time and on spec.
TradeStone Global Order Management is increasingly becoming the system of record for order management as it unites domestic and import orders into one single solution. From pre-buy to replenish, TradeStone Global Order Management capability handles sample, factory, customer/divisional and replenishment ordering and takes weeks out of the order placement and collaborative confirmation process. Pre-buy information generates orders for an item, a department, a season or any other level.
TradeStone Supplier Management supports the social, legal and ethical compliance issues retailers and wholesalers face when dealing with factory and supplier audits. TradeStone Supplier Management provides increased visibility and collaboration with trading partners to improve performance and the quality of relationships. It also provides a central repository for all supplier information including Address, Billing and Logistics profile, Party Relationships, Product Capability, Compliance Audit and Inspection Assessments and Chargeback Summaries, as well as a registration tool that enables trading partners to pro-actively enter and manage their own profile. TradeStone Supplier Management also generates and manages Audit schedules and Inspection requirements, results and corrective action plans, in addition to assisting in driving continuous performance improvement by providing visibility of key performance indicators.
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