Symphony GOLD launches collaboration tool for retailers, suppliers
Symphony GOLD, a software solutions provider with headquarters in Atlanta, said it launched its GOLD Vendor Portal, an online collaboration tool that streamlines the administrative processes between retailers and their suppliers, resulting in faster speed-to-shelf for merchandise, including private brands. By reducing administration and providing better data quality, retailers and suppliers could focus their efforts on specific areas of collaboration; for example, the order processing, inventory planning and assortment management involved in the introduction of new products.
Presenting a consistent, real-time view of all products, prices, locations, vendors and customers, the GOLD Vendor Portal gives retail buyers and category managers comprehensive, unified master data management across all channels and products, from ultra-fresh through to slow moving goods, the company said.
According to Symphony GOLD, key features of the GOLD Vendor Portal include:
- Data quality and consistency for the processes of product definition, purchasing, vendor conditions, inventory and distribution
- Planning and forecasting for assortment, promotion and inventory
- Vendor dashboard for performance management
“Merchandising is one of the biggest overheads for most retailers, and that has much to do with the administrative complexity of managing multiple suppliers, setting up new products and promotions, and dealing with the logistics of getting products onto shelves,” said Donal Mac Daid, vice president, marketing supply chain, Symphony GOLD. “The GOLD Vendor Portal automates many of these processes, allowing the retailer and supplier to focus their efforts on building better, more collaborative, more agile trading relationships.”