Retailer and Consignment-Vendor
Event and Inventory Management Platform
RFID brings to both Vendors, and Retailers’ selling their product on consignment, simple.RFID. has developed our Retailer and Consignment Vendor Event and Inventory Management Platform, Merchmanager. 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, and 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, management, views, in all locations, with all retail partners.
Some of the Benefits and Features include:
– Software provides location specific visibility to allow visibility to each show, in all locations, with all consultant retail partners.
– Mobile Apps on Android and iOS provides simple accessible tools which allow all parties to collect and view relevant event data. Roles can be applied to users providing them specific access. This includes internal team and 3rd parties such as staffing agencies.
– Inventory – RFID 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
– Verification of Orders Received/Shipped – This ensures product traceability reducing Retailer liability due to product going missing.
– Ability to use RFIDs “Geiger Counter” feature to sweep the store at the end of the event 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.
– Other benefits include less disruption to customers and store personnel. This allows your staff greater focus on the customer and in-line product, while simultaneously better managing consignment product. Inventory visibility reduces 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, 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…”.
Please allow us to run a pilot with you and prove the benefits of our program.