As the global pandemic continues to put pressure on supply chains, Lightspeed has announced its launch of the Lightspeed Supplier Network. The new offering said the cloud-based, omnichannel commerce platform provider will transform supply chain management for SMBs and “democratize access to the strategic inventory visibility once reserved predominantly for enterprise retail and e-commerce giants.”
With its Supplier Network, Lightspeed’s stock ordering solution will provide direct integration between businesses and brands and provide an automatically updated supplier catalogue system for easy order management and an automated shipment system that is handled directly with the Lightspeed’s platform. Additionally, the network will enable SMBs to more easily adopt a demand-focused inventory model, a solution that Lightspeed says will serve to help independent businesses more nimble and “on equal footing with large chains,” while, at the same time, providing suppliers with access to a ready customer base and real-time sell-through data.
“Connecting SMB retailers directly to their suppliers through the Lightspeed Supplier Network is nothing short of revolutionary,” said Dax Dasilva, founder and chief executive officer of Lightspeed. “This new tool enables independent businesses to discover new products, more easily sell online, and make better use of their capital to strategically increase order frequency. The disruption of 2020 cemented the need for SMBs to use technology to remain agile and the Supplier Network is deeply in line with Lightspeed’s mission to strengthen their operational resilience.”
According to the company, another key advantage of the Lightspeed Supplier Network is the automation of manual ordering and consolidation of supplier portals in the POS, improving transparency of shipments and shortening cycles. At the same time, the network promises to make new suppliers and products more discoverable with product details including imagery imported into the POS seamlessly and eliminating barriers to online selling.
The Lightspeed Supplier Network for North American retailers will initially be available for retailers in the bike, outdoor sport, jewelry and pet categories.
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