FOR IMMEDIATE RELEASE
GMA Whitepaper: When Retailers Share Sales Data Directly with Trading Partners, Stakeholders Across the Value Chain Reap Numerous Rewards
Contact:
Scott Openshaw, Director, Communications, 202-295-3957
Brian Kennedy, Director, Communications, 202-639-5994
July 20, 2009
WASHINGTON, D.C. – The Grocery Manufacturers Association (GMA) today released a whitepaper that identified more than 30 business benefits that grow specifically from using retailer-direct data in business planning and forecasting. The Retailer-Direct Data Report provides a current view of sales, inventory and other data that retailers are sharing directly with their trading partners and identifies successful practices for sharing and using this data and the benefits that result.
Standard practice in the CPG industry for decades has been for retailers to hire outside firms to analyze store-item-week sales and inventory data to guide their planning and forecasting. At the same time, manufacturers purchased syndicated retail data from third parties to direct their business planning. Today, a growing number of retailers and manufacturers are sharing data directly with their trading partners and teaming up to analyze it themselves, saving money and enhancing performance through collaboration.
“In this increasingly complex business environment, collaboration and transparency will be a key to efficiency and growth for CPG retailers and manufacturers,” said Jeanne Iglesias, GMA senior director of supply chain and technology. “Many large mass merchandisers and grocery retailers are realizing the benefits of retailer data-sharing initiatives and this paper identifies ways in which trading partners, whether experienced or new to the game of retailer-direct data, can extend these collaborative efforts for mutual success.”
The Retailer-Direct Data Report notes that the volume of timely data being shared by retailers has never been greater. Among the supply chain and merchandising benefits trading partners are reaping with the use of retailer-direct data are reduced out-of-stocks, improved forecast accuracy and reduced merchandising costs at retail.
“One key learning that we identified in terms of successful practices for direct data sharing programs is that the data must be shared throughout the company – not restricted to one department or team,” noted CROSSMARKS’S Hollie Gonzales, one of the report authors and a member of the GMA Information Systems Committee. “Wide distribution ensures that all departments are applying the data to their work streams and maximizing the benefits for suppliers and retailers.”
The Retailer-Direct Data Report is based on first-hand knowledge and experience of experts in retailer-based data programs, ranging from CPG supplier and retailers to third-party providers, IT and sales agency professionals. It is available for download at www.gmaonline.org/publications/WP-Retailer-DDR09-6.pdf.
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Based in Washington, D.C., the Grocery Manufacturers Association is the voice of more than 300 leading food, beverage and consumer product companies that sustain and enhance the quality of life for hundreds of millions of people in the United States and around the globe. Founded in 1908, GMA is an active, vocal advocate for its member companies and a trusted source of information about the industry and the products consumers rely on and enjoy every day. The association and its member companies are committed to meeting the needs of consumers through product innovation, responsible business practices and effective public policy solutions developed through a genuine partnership with policymakers and other stakeholders. In keeping with its founding principles, GMA helps its members produce safe products through a strong and ongoing commitment to scientific research, testing and evaluation and to providing consumers with the products, tools and information they need to achieve a healthy diet and an active lifestyle. The food, beverage and consumer packaged goods industry in the United States generates sales of $2.1 trillion annually, employs 14 million workers and contributes $1 trillion in added value to the economy every year.
Related GMA Documents dealing with - DATA SYNC
NEWS RELEASE
- July 20, 2009 GMA Whitepaper: When Retailers Share Sales Data Directly with Trading Partners, Stakeholders Across the Value Chain Reap Numerous Rewards
Related GMA Documents dealing with - DATA SYNCHRONIZATION
NEWS RELEASE
- July 20, 2009 GMA Whitepaper: When Retailers Share Sales Data Directly with Trading Partners, Stakeholders Across the Value Chain Reap Numerous Rewards
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