Faster and More Efficient Supplier Onboarding
The goal for many e-commerce retailers is to offer an expanded product offering to their customers, with accurate and descriptive content and images to convert them. This requires smooth relationships with vendors and suppliers. But, often retailers come across two big problems during the supplier onboarding process:
- Suppliers don’t have tools and are unable to provide content in the format that retailers need. This slows down onboarding and slows down the product data management process.
- Retailers’ processes for onboarding product content are often based on e-mail and spreadsheets, leading to weeks and months of manually inputting and validating product data.
Manual product data management may work up to a certain point for some retailers, but it makes it difficult to add more suppliers and scale your business.
|WHAT RETAILERS ARE SUFFERING FROM|
- Slower time to market due to delays, inefficiencies, error, and rework involved in the retailer’s current manual processes.
- Unrealized revenue due to delays in getting products to market.
- Low conversions due to inadequate, inconsistent product content that does not help buyers easily find, compare, and choose the right product for their needs.
- Customer dissatisfaction due to misleading product descriptions.
- Organizational inefficiencies in workflow between teams and suppliers.
- Inability to scale due to the need to hire more employees to scale or improve their product selection. Improving product quality or adding selection means adding headcount.
|CHALLENGES ASSOCIATED WITH MANUAL SUPPLIER ONBOARDING PROCESSES|
- Obtaining and validating product data from suppliers
Without a single point of entry for suppliers to provide product data, version control and normalization of content is challenging. Plus, without automated validation rules setup to your business and category requirements, inaccurate and incomplete SKU data flows downstream into your website and requires additional work to correct.
- Normalizing product data between suppliers
Suppliers may not be able to provide product data feeds and files that comply with retailer specifications. Additionally, rigid technical requirements and worksheets developed from a retailer’s IT teams make supplier compliance difficult. This lengthens timelines and creates obstacles to providing you more rich content data – which reduces the selling window for these products.
- Lacking a clear supplier management process
Using e-mail inboxes and computer desktops in place of a product data management system can cause a great deal of internal disorganization and is incredibly time-consuming to manage.
|HOW MERCHANTRY CAN HELP YOU WITH SUPPLIER ONBOARDING|
- Providing a supplier-friendly portal
Suppliers input information into the self-service portal, which captures the inventory and product data your retail business requires. The Merchantry platform alerts suppliers if data is missing or requires adjustments.
- Getting products to market faster
With Merchantry, you can quickly get more SKUs into your system, launch products faster, and add new suppliers as desired.
- Promoting scalable business growth
The Merchantry platform helps you organize and categorize product data so that customers can find what they’re looking for.
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