Winning in Retail With CXH: Using Operational Data to Solve Top Problems
A broad vendor network means everything to a retailer—but so do smooth operations. Without the latter, data quality suffers, product inefficiencies occur, and the end customers are likely to be disappointed. While seamlessly onboarding a large supplier community is the first piece to winning in retail, best-in-class operational data—the details that ensure a product is stored, shipped, and delivered properly—comes next.
Fortunately, Syndigo’s Content Experience Hub (CXH) has the tools to manage, validate, and execute operational information just as well as it does for vendor onboarding. If you’ve read the “How to Win in Retail” blueprint, you know a bit about how this data source fits in, but let’s review in more detail.
What operational data entails
There’s a reason this data type is probably the most recognizable one: operations are simply pivotal to a business. When retailers reference this data, they’re of course thinking of packaging, shipping, and completing orders. They’re thinking of all the crucial details that need to come together just right for their suppliers’ product content submissions to become a reality. When any part of this data slips up, shipments can get delayed, as well as warehouse slotting, shelf storing, and of course fulfilling sales.
Retailers that work with Syndigo don’t have to worry about such issues in operational data, as CXH ensures the information is reliable—from confirming accuracy in Syndigo-created content to completeness in brand-created content, sufficient operational data is available because of the engagement with our vendor network. Not to mention, when this data is translated smoothly, costs are cut and time is saved, as an intensive IT project to manage it all isn’t necessary.
How operational data applies to your retail strategy
In our 2021 Forrester study on product content management, a top area of concern for suppliers was product data being spread across multiple tools. The beauty of retailers using CXH to manage operational data in addition to vendor onboarding is the full integration available, meaning not only they can use the platform for all data management, but so can their vendors.
So while achieving a consolidated solution for both sides is key to a winning strategy, two other themes stand out when retailers consider CXH’s application of operational data specifically. Each theme represents a core priority: one that is confidently addressed with CXH’S handle on this data set.
The first is improving speed of order fulfillment. With Syndigo prioritizing the accuracy of item weights and dimensions, measures are always kept up to date with packaging changes. Moreover, this is essential to Syndigo’s content creation capabilities, something that also benefits retailers and suppliers alike.
The other top theme is increasing speed-to-market for new products. When retailers can rest assured that their operational data is on point, they can also take comfort in the fact that their speed to market will stay intact. This is, unsurprisingly, something that product content decision-makers at supplier organizations care deeply about as well, with 42% of them in our Forrester report expecting faster time-to-market with a modern product content solution. Syndigo has a carefully QA’d marketplace of product content (more than one million items are consistently maintained for ultimate freshness), so new item set-up is effective and doesn’t slow things down.