True innovation in product development requires collaboration between retailers and manufacturers. Collaboration won’t succeed unless retailers treat suppliers as partners on the same team.
This includes sharing performance data with them based on customer feedback and other measures. It will enable suppliers to serve as fully-informed resources to retailers, which is when the magic begins to happen. Suppliers can notice early-stage problems with product performance and identify unique ways to boost performance that may not be on the retailer’s radar.
Retailers have the responsibility, as well, of measuring the performance of suppliers and being transparent about the findings. Products need to deliver on their promises. Suppliers deserve to know how they are doing.
S4RB’s Affinity™ platform facilitates retailer-supplier collaboration and information sharing and helps to streamline the business processes that drive own brand product quality in a way that captures the right measures of value for the brand.
Retail teams are empowered to make changes with automatically curated lists of actionable insights that have already been reviewed and enriched by supplier input.
Suppliers become part of the own brand team, offering their insight and opinion to help meet goals.
Ensure products meet own brand targets
Maintain good margins
Easily identify product benefits
Drive innovative products
Reduce new product failures
Make relevant products
In the past, gaining quality insights was expensive, time-consuming and only showed the tip of the iceberg.
Now with increased customer engagement captured online and on mobile, via social and in store, retail brands can accumulate broad customer insights and discover new ways to truly differentiate products by focusing on what customers want and really value.
The result is ‘One View’ of product quality to act on to ensure competitiveness. Retail teams finally have the confidence to make informed strategic investments in product development to maximise a product’s value in the eyes of customers, in the most cost-effective way.