28 Jun Help Us, Help You
Asking the question “What does a retailer want from their vendor?” is one we’ve asked ourselves many times throughout our last 16 years in the natural product industry. A recent shift in our company philosophy has changed the recipient of that question from ourselves…to our customers. Our Founder, COO and President Linda Sheehan has created a very clear message to all employees: Listen, Learn and Act. Opening our ears to our supply-side partners has allowed us to continually improve our supplier portal and data management tool SupplierGenius™.
Our Supply-side Product Owner, Erin Husser, is tasked with collecting and organizing feedback from manufacturers, brokers and even retailers. Armed with this valuable feedback, she is better equipped to write specs for the next new feature or function built into SupplierGenius. “We have embraced a new way of developing our products for our customers. For SupplierGenius, we are working with manufacturers and brokers to make them part of the development feedback loop to ensure the features being developed will provide a positive impact to their everyday process,” commented Husser. As part of her feedback collection, she asked that very question we had so often asked ourselves: “What does a retailer want from their vendor?” The answer was quite simple.
The Right Price
In the busy world of retail, buyers are looking for convenience and accuracy. Having both of these things allows them to make quick and informed decisions regarding the inventory in their store. They want to be able to see their true pricing with their BUYiQ software. Retailers shared with us that having access to their vendor-negotiated pricing in the aisle while creating an order helps them make quicker purchasing decisions, allowing them to get back to their customers and sell more product. Providing this retailer-specific pricing, benefits everyone. Having access to vendor-negotiated pricing lets retailers order quickly and accurately, which gets the product on the shelf quicker and into the customer’s hands, benefitting everyone in the order cycle. With SupplierGenius, vendors can quickly and easily push retailer-specific pricing updates and specials to all retailers participating in our network. With just a few simple steps you can reduce the amount of time your team will need to spend updating pricing for individual customers and deliver exactly what they are asking for – real-time.
Hunting for Deals
Many retailers choose to work with GeniusCentral because of the competitive advantage we can provide them by delivering close to real-time catalog pricing as well as deals and promotions offered by vendors through BUYiQ. Many small independent stores have shared that they depend on these deals to help improve their margin or move more product by passing the savings on to their customers. To deliver these specials to retailers, vendors can login into SupplierGenius and publish deals with specific start and end dates. If their catalogs and orders are automated with GeniusCentral, we can receive the deals automatically and publish them to BUYiQ and on mygeniuscentral.com for retailers to access. Deals can be published across the entire GeniusCentral retail network or to select retailers. We have provided vendors with the flexibility to communicate the pricing changes and deals to the retailers, so they can decide the best pricing strategy for their business.
Into the Future
As we continue to engage in a partnership with our vendors and retailers, utilizing their valuable feedback to improve our existing products and develop new products that fit their needs, we are excited for what is it come. “Without feedback from our customers we could not build the tools to help streamline their processes,” says Erin Husser. “We have some exciting tools in development now that will help simplify negotiations and communications surrounding retail trade promotions between retailers and suppliers. These will be out later this year. Stay tuned for more information on new products and services, we just may be reaching out to get feedback from you.” Just as important as feedback, is training and education on our products. If you or your staff are unsure of how to update your catalog prices for specific retailers or publish a new deal in SupplierGenius, please be sure locate our training resources, under the HELP button in the SupplierGenius portal, or call customer service at 800.360.2231. We offer a wide array of training tools to help staff better understand how to update pricing specific to a retailer as well as many other features. The bi-weekly webinar registration on how that can be accessed by clicking HERE.