10 Points to Assess Your Vendors Relationships

The 10 simple questions built in the Collaborative Approaches review the existing pillars a retail organisation has built over the years.

Thank you for investing your time in assessing the Vendor’s Engagement effectiveness of your retail organisation . We have listed 10 simple question with a straightforward scoring. Each type of answer gives a number of points. The assessment and recommendations are right after the questionnaire.

Scoring

Yes = 2 No= -2  Don't know = 0

Maximum Score: 20 points

Minimum Score: 20 points

Assessment Overview

More than 6 “No” answers

Vendors have a lot probably too much influence and independence in their business relationship with your organisation . While we cannot blame a commercial enterprise to promote its products, a certain number of challenges appear when vendors have too much influence:

  • Assortment and categories reflect the vendors’ offers more than the retailer’s mission
  • Retailer’s shelves are turned into low rotation and low added value product displays
  • Inventories skyrocket
  • Sales decrease

While the option of letting quite wide options can seem to be an attractive option especially when there is a perception that Teams might not have the required capabilities to efficiently manage the relationship with Vendors its long terms consequences can be very negative for the organisation

  • The Stores, physical or digital, lose their identity and attractiveness
  • Profitability by suppliers take a dive
  • Collaboration projects are only based on price limiting the opportunities to collaborate and co improve the Customers’ experience

Between 3 and 6 “No” answers

The foundations of Vendors Management are in place, denoting a positive drive in the management of the collaboration.

The current evolution of retail activities post-– especially in these covid era, are only increasing stressing how collaboration between retailers and suppliers is becoming a question of life and death of the business. The Collaboration we are talking here encompass all initiatives and innovations where Customer Experience can be improved for the benefits of all stakeholders.

For example:

  • Automation of all reporting used for business reviews so more time can be allocated to create project
  • Improvement of the Merchandise flow through data sharing to increase products availability and reduce sleeping stocks
  • Digitalisation of all tasks related to product listing or promotion, for example, to accelerate speed uplifts

Less than 3 “No” answers

Congratulations! Your organisation has a professional Efficient Vendors Management approach which support Vendors Engagement and delights Shoppers. Have you already thought about providing Vendors with Access to your Data?

Yes!

I am interested in having a more detailed and free diagnostic about how we are engaging Vendors to identify what are the options available to create more collaboration to increase support and decrease costs.

We help regional and family owned companies transform their retail business to remain competitive and drive

profitable growth.

To remain competitive and drive growth in a new disrupted world, new approaches are required. Our Teams gather former retailers, consultants and technology talents. We marry retail expertise with people, processes and data to support Leaders in their Transformation Journey.

Capabilities

  • Transformation Journey
  • Commercial Offer
  • Customer Engagement
  • Teams Development
  • Digital Readiness
  • Operations
  • Vendors Engagement
  • Advanced Analytics

Find out more in our Free Retail Knowledge Base!
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We help retail players continuously improve Shoppers’ Engagement.

The value we help you create

Ranges Performance

From constantly changing prices, availability issues to continuously growing competition, we help teams take the right decision to develop winning category strategies

Promotions Impact

Promotion history, campaign analytics & promotion planning help teams deliver stronger promotions ROI

Shoppers Engagement

We connect shoppers & loyalty data to help Insights & Category Management Teams build compelling shoppers’ strategies

Teams Onboarding

User friendly interface, interactive charts and tables create an intuitive & interactive platform that teams love

Suppliers Collaboration

Internally with your own teams or externally with business partners, share insights and recommendations to establish a common language while maintaining your own segmentation

Data Management

Whatever your data format, granularity level or source, deliver a seamless access to insights & recommendations with automated data ingestion, structuring & cleansing processes

ABOUT
HYPERTRADE

Hypertrade is a retail tech company in Category Management and Shopper Behaviors Analytics. Manufacturers use our platform to manage their multi-retailer data sets and to automate their category management and sales analytics. Retailers use our platform to improve their Commercial offering, collaborate with their suppliers and Engage their Shoppers. Building on Sales, POS & Loyalty data, some of the things we fully automate are:

• Brand& Category Score card
• Brand automatic Diagnostics
• Range Optimization
• Promotion Planning & Forecasting
• Shoppers baskets analysis

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