Injecting Financing and Streamlining the Procure-to-Pay Process
The saying “the only thing that is constant is change” couldn’t be more aptly suited to the retail industry. Retailers are striving to leap-frog one another and differentiate themselves on the front-end through marketing and advertising, yet their back end problems remain unresolved.
Global expansion and omni-channel are necessary to business growth, but if not done correctly, retailers often lose profits from high operational costs in areas such as the supply chain and supplier management. These costs often stem from lack of visibility in both the physical and financial supply chain. The latter has created such inefficiencies in operating models that the procure-to-pay process (P2P) has become a hot topic for retailers to master to mitigate financial risk and bring their costs down.
In fact, the entire P2P process was explored further in a survey of 83 retailers conducted by Edgell Knowledge Network (EKN) in June 2014, where it was revealed that a shocking 51% of retailers do not use integrated processes or systems when managing purchase orders, buying processes, trade documents, finance options and payment settlements in the supply chain. This article examines the gaps in the modern P2P process and ways to overcome them.
Read the full story on the Retail Merchandiser blog
Mars, Incorporated has announced that Todd Lachman, current President, Mars Global Petcare, decided to leave Mars at the end of 2014 to relocate his family to San Francisco, California. Todd has been with Mars for 8 years, first leading the Chocolate North America and Latin America business before moving into the lead role of the Mars Global Petcare business. Poul Weihrauch has been appointed as President Mars Global Petcare, effective Jan 1, 2015.
Read more: Leadership Changes at Mars Inc.
Since online fraud threatens the profitability of merchants, especially those that depend on card-not-present (CNP) revenues, it’s essential to use all your cross-channel data insights and intelligence wherever possible to deter it. It’s not just the fraud losses you need to avoid; it’s the associated expenses. According to the 2013 Lexis Nexis True Cost of Fraud Study, each dollar of fraudulent activity steals $3.10 from the bottom line of online-merchants.
There are, however, highly effective solutions you can put in place that give you the upper hand in fighting fraudsters and the specific threats and loop-holes they seek to exploit. Take these four steps to build your defenses and prevent criminals from sabotaging your bottom line.
Read the full post on the Retail Merchandiser blog
Global branded play leader Hasbro, Inc. announced a new strategic merchandising relationship with Disney Consumer Products for the globally popular Disney Princess and Frozen properties. The agreement gives Hasbro global rights (excluding Japan) to develop dolls based on Disney Princess stories and characters including Cinderella, Beauty and The Beast, and The Little Mermaid as well as Frozen beginning in 2016.
Read more: Hasbro, Disney partner on Disney Princess and Frozen properties
Vandor LLC recently expanded its licensing catalog to include Teenage Mutant Ninja Turtles, and 10 new matching products – all featuring the four iconic, teenage crime-fighting, mutated turtle brothers. Vandor’s newest products will show off the faces of Leonardo, Michelangelo, Donatello and Raphael in the form of tin totes, 12 oz. collapsible water bottles, 16 oz. plastic travel mugs, 18 oz. oval ceramic mugs and more.
Read more: Vandor Adds TMNT
A 2012 survey by QSR magazine asked participants to rate their customer experience at various fast food restaurant drive-thrus. Chick-Fil-A was the only restaurant that received a "very friendly" rating more than half the time (57.4 percent). Meanwhile, McDonald's clerks were "very friendly" only 27.6 percent of the time, and Burger King fell closely behind at 27.4 percent.
McDonald's executives acknowledged the issue with all of its franchise owners in a 2013 conference call, revealing that one out of every five complaints the corporate office receives is related to rude and unprofessional employees. The company failed to hit revenue expectations for two consecutive quarters in 2012, which prompted CEO Don Thompson to shake things up at the executive level that November. But the damage had already been done. Despite all the changes, the Wall Street Journal reported in June 2014 that McDonald's sales dropped six consecutive months, the longest negative slide for the company since 2003.
Read the full story on the Retail Merchandiser blog.
Coming out of this year’s International Licensing Expo, All-American Licensing and Management Group (AALMG), a licensing powerhouse formed by a group of top industry executives and represents select organizations, ranging from establishments like the Mandalay Bay, MGM Grand and the Bellagio Hotel and Resort, to personalities like designer Jennifer Adams and TV's longest running hunting and fishing show, The American Outdoorsman, announced the signing of PoloGear to that exclusive roster. This partnership will take the PoloGear brand to the mainstream level in North America.
Read more: PoloGear Scores with Licensing Agency AALMG
After 12 years in exile, SURGE is back. The drink that debuted in 1996 and was taken off the market in the early 2000s is back thanks to brand that successfully lobbied The Coca-Cola Company to bring back the drink. SURGE is Coke’s first discontinued brand to make a triumphant return to the market.
Read more: Power SURGE
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