Vendor Management Systems Free Essay, Term Paper and Book Report
Retailers often manage thousands of brands. The bigger the retailer, the broader its vendor base. An ever-changing market forces retailers to constantly move inventory. Top retailers know that to remain on top, they must obtain the right merchandise at the right price point, and get it on the shelf as quickly as possible. However, there are numerous hurdles that retailers must overcome before an item can be sold.
There is a complex dependency between retailers and their vendors to efficiently obtain merchandise. An excessive amount of documentation and approval processes accompany each vendor and its merchandise. Retailers must set forth guidelines to ensure that shipments arrive accurately and on time; items are priced correctly; vendor markdowns are reflected appropriately; logos are used properly; brands are merchandised according to vendorsÂ’ desires; and promotions are set up properly. And with each new item, price modification, or promotion, a colossal domino effect is initiated as retailers scramble to mirror the changes through the order process.
Improving the efficien......
Word Count: 1388
Page Count: 5.5 (250 words a page / double spaced)
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