BikeBiz Bicycle and cycling retail news
Global omnichannel commerce platform Lightspeed has launched the Lightspeed Supplier Network for North American retailers.
“The launch of the fully integrated stock ordering solution transforms supply chain management for SMBs, democratising access to the strategic inventory visibility once reserved predominantly for enterprise retail and e-commerce giants as the global COVID-19 pandemic continues to place pressure on supply chains in 2021,” said a statement.
“This direct integration between businesses and brands provides merchants with an automatically updating supplier catalogue system, easy order management tools and automated shipment handling directly within Lightspeed’s cloud-based platform.
“Lightspeed’s Supplier Network enables SMBs to more easily adopt a demand-focused inventory model to remain nimble, placing independent businesses on equal footing with large chains while providing suppliers access to a ready-to-buy customer base and real-time sell-through data.”
Key highlights include:
– Creates a harmonised marketplace
– Automates ordering and consolidates supplier portals in the POS
– Increases discoverability of new suppliers and products to suppliers
– Increases control of supplier branding
– Provides suppliers access to sell-through data in real-time
“Connecting SMB retailers directly to their suppliers through the Lightspeed Supplier Network is nothing short of revolutionary,” said Dax Dasilva, founder and CEO of Lightspeed. “This new tool enables independent businesses to discover new products, more easily sell online and make better use of their capital to strategically increase order frequency.
“The disruption of 2020 cemented the need for SMBs to use technology to remain agile and the supplier network is deeply in line with Lightspeed’s mission to strengthen their operational resilience.”
Charles Bisaillon, retail success leader for Specialized Bicycle Components, added: “With the growing demand for bicycle-related products and supply being lean, product curation and inventory visibility are key to success for SMBs.
“The direct integration our brand has with Lightspeed creates an ecosystem that ensures our retailers have full visibility of Specialized products to satisfy that growing demand, a critical capability in 2021.”
The Lightspeed Supplier Network will be initially available for retailers in the bike, outdoor sport, jewellery and pet verticals. For more information visit www.lightspeedhq.com/partners/supplier-network.
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