One of the ways the industry can strengthen is through a closer collaboration between retailers and vendors. Through true partnerships, we believe we will be able to work together to start tackling issues such as non-performing inventory and better merchandising decisions, which will lead to better cash flow, less debt and more profitable businesses.
The BIG Network is a cost-effective, permission-based solution that allows for collaboration between you and your customers. Get insights into consumer sell-through of your product. Know exactly where the inventory is needed – in real time!
The world is changing fast. Business is forced to adapt the way it operates in order to remain competitive. Those that keep their edge will be using systems vs. manual analysis.
Through Retailers participation in The BIG Network, vendors can:
Obtain sales and inventory information
Help replenish stock faster with your permission
Invoice/bill for sold memo inventory
Stock-balance non-performing items
Know exactly where the inventory is needed – in real time!
24/7 access to data by retail customer, category, price point, and by style
The BIG Network
“I have used the information in my BIG Report to come to the jeweler with an educated, specific plan of what they should buy. I can show them specific holes in categories and narrow it down to price points within those categories. A customer appreciates this and I think respects me when I can show him or her the holes where they have sold items in price points over and over and have nothing left in inventory and therefore are missing sales and it is affecting their ROI and turn. At this point I become a consultant to their business and it really turns the appointment from a sales call to a consultation.”
Cindy Hartzog, Regional Sales Consultant, Gabriel
How it works:
Retailers grant you access to your data – what’s selling and what’s not – and you help them manage their inventory. Be proactive in helping stock their fast sellers and remove poor performers.
BIG receives data directly from your customers
Data is only shared with retailer permission
A single data stream from your customers
BIG works with most POS systems
Have 24/7 online access to powerful analytic tools and data
Receive automated reports: by retail customer, category, price point, and by style
Track inventory – both asset and memo
Receive monthly sales data automatically
No need to wait for retailers to report memo
Speed up your billing cycle
Relocate slow movers to other retailers
Fill holes with new products by category and retail price point
The BIG Network is an invitation-only, permission-based platform created by Buyers Intelligence Group (BIG), to facilitate collaborative inventory management between retailers and their suppliers.
Vendors have been kept largely in the dark regarding sell-through – they have no idea what inventory is sitting in your stores that is not performing.
Through Retailers participation in The BIG Network, vendors can: obtain sales and inventory information, help replenish stock faster with your permission, invoice/bill for sold memo inventory, and stock-balance non-performing items in a proactive manner.
How you benefit: This service is free of charge for Retailers and enables them to work collaboratively with vendors by allowing them to gain valuable insight into what is selling and proactively help retailers manage non-performing inventory. For participating, Retailers are eligible to receive a free Daily Sales Report from Balance to Buy!
“This Sales Report is the most valuable piece of paper I look at every day to give me the complete snapshot of my business.” If I don’t have it with my cup of coffee, I don’t feel like my morning is complete.”
Tom Williams, Owner, Floyd & Green
How does it work?
BIG serves as a 3rd party administrator, gathering data related to specific vendor’s merchandise by interfacing with retailer POS systems.
100% Permission-Based Platform
No Cost to Retailer
Interfaces with your Existing POS
No Retail Prices, Gross Profit or GMROI shared with Vendors – only Unit Sales, the Cost of Items Sold and On-Hand Inventory Information
Confidentiality Agreement signed with every Retailer
Watch this video to see why this is important for your vendors!
GET CONNECTED. GET RESULTS.
Ask your BIG Network Vendor Partners for details or contact BIG