Retailer and Consignment-Vendor
Event and Inventory Management Platform
Simple RFID aids both vendors, and retailers’ selling their product on consignment.
Simple RFID has developed a Retailer and Consignment Vendor Event Inventory Management Platform. The program was architected to streamline the Vendor / Retail Consignment partner relationship to better manage consignment shows, schedules, shipments, and product. For the first time both Retailers and Consignment Sellers can share near real-time visibility into consignment inventory levels. This shared, near real-time inventory data allows for better management of current stock levels.
The program is simple. After a consignor has been entered into Merchmanager, event details, including the duration of each show, are easily entered into the system.
Each events’ data is immediately made available, posted to the corresponding events, and accessible to all permitted parties. We display events on the web in: grouped list, calendar, and timeline views.
Consignment Sellers can order pre-printed and encoded RFID tags to be sent directly to their locations allowing them to tag items prior to shipping. Additionally, vendors may choose to purchase an RFID printer which allows them to print, encode, and tag on-demand at varied locations. We facilitate both options.
Consignment sales campaigns can occur for only a short time period. Therefore, proper initial product stocking, along with timely restocking, maximizes the event sales. Using both web and app based accessibility, communication and data visibility are streamlined between all parties.
Software provides location specific visibility. This includes vendor, retailer, staffer, and management views in all locations with all retail partners.
Some of the Benefits and Features include:
– Location specific visibility to each show, in all locations, with all consultant retail partners.
– Mobile Apps on Android and iOS provide simple accessible tools allowing all parties to collect and view relevant event data.
- Roles can be applied to users providing them specific access including internal team and 3rd parties.
– Provides rapid and accurate identification capability, allowing a single person to count a “show” of approximately 2,000 pieces, over 99% accurate, in around 30 seconds
– Set stock thresholds and alerts to notify both the Consignor and Consignee when inventory levels drop below threshold levels ensuring the right product will always be in stock for your customers.
– Shipment data including Bill of Lading and Skid Labels are accessible via the web or the app guaranteeing shipping paperwork is accessible at all times to all permitted parties.
- This shipping paperwork provides details of who the designated carrier is for each show, never missing a consignment pick-up again.
– Verification of Orders Received/Shipped ensuring product traceability which reduces Retailer liability due to product going missing.
- Sweep the store at the end of the event with the “Geiger Counter” feature to ensure that all product leaves together.
– Communication tools including Photo, Text, and Voice Message support provides a central platform where show details can be shared.
– No cost to the Retailer who implements the program.
– Less disruption to customers and store personnel allowing your staff greater focus on the customer and in-line product, while simultaneously better managing consignment product.
– Eliminates the need for on-site personnel to manage the consignment product, which reduces the number of outside parties requiring access to the store.
– Inventory updates can be generated by a store as frequently as they wish.
– Product restocking is greatly streamlined, ultimately requiring fewer parties to manage this process.
According to a study by the Harvard Business Review, financially stock–outs “…translate into sales losses of about 4% for a typical retailer.” This number can be substantial to large corporations, however financial losses are only a part of the penalty. Poor product stocking for any brand inside of a Retailer’s establishment tarnishes a Retailer’s brand. The customer often does not know the difference between consignment and in-line product.
Incredibly, Simple RFID has proven its benefit allowing vendors to deploy thinner more varied stocks, while still meeting consumer demand–this is what today’s shopper expects.
Vendors who have used Merchmanager “….have reported a 30-40% increase in revenue…”.
Contact us to run a pilot with you and prove the benefits of our program.