Accelerate Savings and Visibility for Complex Retail Environments
Intuitive Technology to Solve Supply Chain Challenges
Rising operating costs and declining sales prevalent across today’s retail landscape are challenging businesses to examine addressable spend and inefficiencies within their organizations from merchandise and non-merchandise to the complicated logistics involved with companies operating multiple locations. To remain competitive in the retail industry, business of all sizes are streamlining their complex supply chains, developing new procurement strategies and improving the analysis of incoming data to make informed business decisions.
Tejari’s unique Retail Suite delivers direct and indirect solutions to enable companies to visualize spend and identify problem areas, strategize on sourcing decisions, automate their contract management and navigate the different supplier lifecycles from selection comparisons to expiration/renewal alerts.
For over 20 years, retail companies have trusted our comprehensive spend management solution for substantial growth in both cost savings and procurement efficiency.
What Sets Us Apart
Tejari’s comprehensive Retail Suite provides companies with industry-focused direct and indirect solutions for analyzing and understanding data, reducing costs, and improving efficiency across sourcing, supplier and spend management. The suite bundles Spend Analytics, Advanced Sourcing Optimizer, Contract Lifecycle Management, and Supplier Management.
Spend Analytics provides retailers with a competitive edge in visualizing their end-to-end spend and offering data-driven insights to enable strategic, cost-saving decisions.
Using Spend Analytics, organizations can:
- Utilize an integrated flexible data model for unmatched analytic depth of relevant information from any source
- Gain visibility into spend; see where it’s going and where it can be cut or allocated for use in an intuitive report
- Improve financial forecasting through pricing analysis and trends
Advanced Sourcing Optimizer (ASO) provides retail organizations with unrivaled strategic sourcing capabilities.
Using ASO, organizations can:
- Gather additional critical information from bidders—such as technology advancements, supplier performance, innovation and total value—using the unique Expressive Bidding® System
- Compare different decision scenarios and scoring algorithms with the patented Scenario Builder
- Simplify multi-item, multi-location bids by consolidating thousands of line items into a single bid
Contract Lifecycle Management automates and streamlines the contract management lifecycle.
Using Contract Lifecycle Management, organizations can:
- Minimize authoring times with a dynamic contract generator and a library of standard templates for full contracts, clauses, and individual obligations
- Collaborate with stakeholders through the entire contract management lifecycle
- Access a single point of real-time information about all contract terms and conditions to significantly reduce risk
Supplier Management is a comprehensive supplier lifecycle management solution that provides complete visibility into supplier performance and risk.
Organizations utilizing Supplier Management can:
- Easily collect supplier information to run sourcing projects, assess spending levels, and optimize payment processes—all from a single portal
- Compare suppliers in performance, total quality, pricing, and risk to build an all-star roster of vendors
- Guide registration of suppliers and automate the management process, including alerts for expirations and renewals
“In just a few short months, it was apparent that the advanced capabilities within Tejari’s Advanced Sourcing Optimizer that we leveraged for our large, complex RFPs would drive a higher level of strategic benefit for our eSourcing activities within smaller, less-complex spend categories.”
Quality Supply Chain Co-op, Inc.
A large, US-based retail company’s corporate sourcing group, responsible for all not-for-resale purchases, including the services needed to maintain the appearance of its 800+ stores across 18 regions, needed to speed up their sourcing process for corporate area maintenance (CAM) services. They were relying heavily on Excel spreadsheets to collect and analyze bid proposals and compare suppliers, and knew that this manual process was a significant bottleneck toward the efficiency they required to increase margins.
Having used Tejari’s solutions for other corporate spend initiatives, the sourcing team knew that the company could bring significant benefits to their CAM sourcing projects around time-saving efficiencies, increased capabilities for bid collection and analysis, and supplier management and spend analysis moving forward. The flexible bidding capabilities of ASO enabled them to configure different bid items for each location, and its Expressive Bidding functionality meant that suppliers could combine store locations into bundles based on their capabilities and geographical reach, providing discounted pricing for business awards that combined multiple stores.
Tejari enabled the sourcing team to drastically speed up evaluation of the many supplier proposals and package offers received and efficiently arrive at a decision. Then, once they awarded a supplier with ASO, they were able to ease the creation of that vendor’s contract with Contract Lifecycle Management and automate the supplier management process with the Tejari Supplier Management tool, saving time and costs and allowing for easy performance checks against contracts for that supplier as the relationship progressed. And utilizing Tejari’s Spend Analytics, the retailer gained the ability to analyze their spend moving forward, as the tool collects the company’s data and provides detailed analytics in return. The retailer can use those insights to make better strategic decisions on an organization-wide scale with regards to spend, vendors, and improving supply chain processes.
The Solution Suite
Tejari allowed the sourcing team to take a more strategic approach to tackling their spend: not only did the solutions uncover additional value and cost savings from suppliers in terms of package offers, it significantly reduced the time and complexity involved in the sourcing of these services over previous efforts, and further supplier and contract management. Like many retail organizations utilizing the full capabilities of the Retail Suite, the company achieved:
- 20% total savings, including half of savings from package offers
- 1,000% increase in the speed of bid analysis and evaluation
- Reduction in the sourcing project by 45%
- Alignment with facility and district managers on supplier award decisions
- Total annual cost savings of 5% by automating contracts
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