Version 2.0 of truExchange Item Sync Retail aims to facilitate information exchange between retailers and suppliers
Atlanta — August 25, 2005 — nuBridges, a provider of e-business community management solutions, has debuted the latest version of its item synchronization solution, offering a Linux-based application for facilitating information exchange between retailers and suppliers.
The solution provider said that version 2.0 of its truExchange Item Sync Retail offering "tears down the barriers to the promise of item synchronization for both large and mid-market retailers, including poor data quality, internal process changes and the significant costs associated with lengthy and complex implementations."
A 2003 AT Kearney study defined item synchronization as the critical step for enabling true supplier collaboration where the ultimate result is more collaborative networks with suppliers that enhance sales and promotion initiatives and product design and development.
The study reported that the value of adopting item synchronization includes hard-dollar benefits; faster speed-to-market; reduction in out-of-stocks; lower errors in invoices and orders; and better inventory management. The firm found that retailers overall can capture an additional $1 million in earnings for every $1 billion in relevant sales by adopting a collaborative framework.
nuBridges said that truExchange Item Sync Retail 2.0 speeds the implementation timeline for item synchronization initiatives and facilitates two-way communication between the retailer and suppliers.
New features include a data validation engine that allows retailers to set validation rules based on unique environments and establish workflow processing for all supplier information coming from the data pools.
Elsewhere, automated notification tools facilitate the population of complete and correct item information by notifying the supplier of validation errors before the item is accepted in retailers' internal systems.
And finally, the solution provides for data aggregation from multiple sources, including data pools, internal definitions and external sources, such as suppliers' form and portals. This type of feature is increasingly important as retailers find this complexity essential for comprehensive product knowledge, nuBridges said.
"Besides having a significant short term financial impact, item synchronization is the cornerstone for every form of electronic collaboration," said Wain Kellum, president and CEO of nuBridges. "With truExchange Item Sync Retail 2.0, retailers have a fast and easy way to get started. While there are many additional benefits, item synchronization projects shorten the length of time for new product introductions and reduce stock-outs, which alone can more than justify the effort."
Additional Articles of Interest
— For a look at how Canadian company McCain Foods is overcoming data synchronization challenges in its supply and demand chain, see the article "Building a 'Trusted Source'" in the April/May 2004 issue of Supply & Demand Chain Executive.
— The focus in the retail sector has shifted from managing the movement of goods to managing information about goods. Read more in "Ramping Up the Retail Supply Chain," in the February/March 2005 issue of Supply & Demand Chain Executive.
— Bad packaging, poor handling and substandard shipping and receiving practices account for more than half the returns in the supermarket industry, and the use of folding cartonboard could significantly reduce unsaleables in the industry, one research project has found. Read about the GENCO study of frozen food manufacturers in the SDCExec.com article "Bad Packaging, Poor Handling Seen Driving High Unsaleables."
Atlanta — August 25, 2005 — nuBridges, a provider of e-business community management solutions, has debuted the latest version of its item synchronization solution, offering a Linux-based application for facilitating information exchange between retailers and suppliers.
The solution provider said that version 2.0 of its truExchange Item Sync Retail offering "tears down the barriers to the promise of item synchronization for both large and mid-market retailers, including poor data quality, internal process changes and the significant costs associated with lengthy and complex implementations."
A 2003 AT Kearney study defined item synchronization as the critical step for enabling true supplier collaboration where the ultimate result is more collaborative networks with suppliers that enhance sales and promotion initiatives and product design and development.
The study reported that the value of adopting item synchronization includes hard-dollar benefits; faster speed-to-market; reduction in out-of-stocks; lower errors in invoices and orders; and better inventory management. The firm found that retailers overall can capture an additional $1 million in earnings for every $1 billion in relevant sales by adopting a collaborative framework.
nuBridges said that truExchange Item Sync Retail 2.0 speeds the implementation timeline for item synchronization initiatives and facilitates two-way communication between the retailer and suppliers.
New features include a data validation engine that allows retailers to set validation rules based on unique environments and establish workflow processing for all supplier information coming from the data pools.
Elsewhere, automated notification tools facilitate the population of complete and correct item information by notifying the supplier of validation errors before the item is accepted in retailers' internal systems.
And finally, the solution provides for data aggregation from multiple sources, including data pools, internal definitions and external sources, such as suppliers' form and portals. This type of feature is increasingly important as retailers find this complexity essential for comprehensive product knowledge, nuBridges said.
"Besides having a significant short term financial impact, item synchronization is the cornerstone for every form of electronic collaboration," said Wain Kellum, president and CEO of nuBridges. "With truExchange Item Sync Retail 2.0, retailers have a fast and easy way to get started. While there are many additional benefits, item synchronization projects shorten the length of time for new product introductions and reduce stock-outs, which alone can more than justify the effort."
Additional Articles of Interest
— For a look at how Canadian company McCain Foods is overcoming data synchronization challenges in its supply and demand chain, see the article "Building a 'Trusted Source'" in the April/May 2004 issue of Supply & Demand Chain Executive.
— The focus in the retail sector has shifted from managing the movement of goods to managing information about goods. Read more in "Ramping Up the Retail Supply Chain," in the February/March 2005 issue of Supply & Demand Chain Executive.
— Bad packaging, poor handling and substandard shipping and receiving practices account for more than half the returns in the supermarket industry, and the use of folding cartonboard could significantly reduce unsaleables in the industry, one research project has found. Read about the GENCO study of frozen food manufacturers in the SDCExec.com article "Bad Packaging, Poor Handling Seen Driving High Unsaleables."
