Most retailers have a feel for their suppliers. Some are easy to deal with, some deliver on time and some always seem to have stock that sells. A feeling only goes so far, though.
Seeing how each supplier actually performs can be hard. The information is spread across invoices, sales reports and memory, and pulling it together takes time most shop owners do not have.
Tower Systems POS software makes it easier. You can see how suppliers perform and compare them side by side.
Once suppliers are next to each other, the picture gets clearer. The strong performers stand out, and so do the weak ones. A supplier you think highly of may be delivering less than you assumed. A smaller one may be quietly doing excellent work for your business.
With that knowledge, your decisions can rest on facts.
You might give more space and attention to suppliers whose products sell well. You might review ranges from suppliers that are not pulling their weight. Or you might sit down with a supplier for a direct conversation, armed with clear information rather than impressions.
Decisions like these can improve the financial performance of your business. Shelf space is limited, and so is the cash you have for stock. Putting both behind the suppliers that work for you is one of the most practical ways to strengthen a shop. It can be money in the bank.
To get the most from supplier insights, make the review a habit. Once a quarter is a sensible rhythm for many shops. Look past total sales to margin and how quickly stock sells. Take the figures with you into supplier meetings, because a conversation backed by numbers tends to go further. And jot down why you made each change, so you can check later whether it worked.
Supplier relationships matter in local retail. Many have lasted years and carry real goodwill. Good information supports those relationships, because both sides can talk from the same set of facts.
We can walk you through how supplier comparison works in Tower Systems POS software, using the kinds of suppliers you deal with.
…
To reach us, call 1300 662 957 (AU) or 0800 444 367 (NZ), or email sales@towersystems.com.au.
Recent Comments