Simplify the backend with digital

Warmer weather, longer days, chirping birds – it’s starting to feel like springtime! Now’s the perfect time to revamp the retail backend to ensure your supply chain processes are as efficient as possible. More than ever, retailers need to simplify the backend to bring high quality products to market faster and more effectively to survive the retail revolution. A drive to increase innovation, speed and productivity has prompted many retailers to turn to digital sourcing to ease the burden of an already complicated retail supply chain. Here are a couple ways digital technology can help you simplify backend processes.

 

Communication and collaboration

Sixty-three percent of retail and supply chain professionals are still relying on manual applications like Outlook and Excel to manage complex sourcing relationships. When working with upwards of 500 new vendors each year, retailers need to realize the potential of the digital tools they have at their disposal in order to streamline communication and enable true collaboration throughout their supply chain. Digital sourcing platforms allow retailers to speed the product development cycle by bringing suppliers into the process early on, and aiding communication throughout the process no matter where each player is in the world.

 

With digital technology, retailers can receive information instantly and increase visibility into the product development process from start to finish. By leveraging their entire supply chain network to collaborate, retailers can create a truly innovative product more efficiently than before.

 

Data analysis and decision making

Retailers are already implementing artificial intelligence and machine learning on the front end, but the same technology could make a huge impact on the way they operate behind-the-scenes too. Capturing and analyzing critical data about the product development process allows retailers to make better informed operational decisions, which ultimately leads to a more efficient supply chain. These tools are all about analytics and actionable data, and retailers who leverage the information provided by these technologies can better take advantage of partnerships with suppliers and other entities, improving what works and fixing what doesn’t in established supply chain processes. When used correctly, this data could revolutionize shipping, sampling, fabrics and material selection and more.

 

Retailers who implement these digital technologies will have the tools necessary to simplify the product development process and make more informed decisions for the future. With a more efficient backend, retailers can focus on what brought them to the industry in the first place: creativity and collaboration.

 

See how digital sourcing brings creativity back into retail in the full Bamboo Rose survey report, Digital Sourcing in the New Retail Economy.

Bamboo Rose

About Bamboo Rose

Bamboo Rose is the leading product innovation platform connecting the retail community to discover, develop and deliver products at consumer speed. Our company is made up of retail experts with decades of experience at some of the largest global retailers. Our collaborative B2B platform combines intelligent product lifecycle management (PLM), Sourcing, Global Trade Management (GTM). We help retailers and suppliers simplify the product creation and delivery process to bring great products to market faster, more efficiently and at higher margins. Bamboo Rose serves over 85 major retailers and 400 brands (including American Eagle, Family Dollar, Home Depot and more) and connects 35,000 suppliers and 150,000 user members.