Lightspeed, the Canadian specialist in cloud-based e-commerce platforms has announced Supplier Network, a stock ordering solution aimed at North American retailers.
The Montreal-based company claims that the Lightspeed Supplier Network has the potential to transform supply chain management for SMBs. Merchants signing up for the new system will be able to benefit from an automatically updating catalog system, easy order management tools plus automated shipment handling.
The point of sale expert has introduced the product in response to growing pressures on existing supply chains as the coronavirus pandemic continues. Supplier Network has been designed to help redress the imbalance between major e-commerce chains and smaller, independent businesses.
SMBs looking to improve the efficiency of their systems can also use the cloud-based Lightspeed Supplier Network to improve the efficiency of their POS technology by connecting with suppliers more effectively and increasing control of supplier branding. The dynamic edge of the new product also means that it will provide suppliers with access to sell-through data in real-time.
“Connecting SMB retailers directly to their suppliers through the Lightspeed Supplier Network is nothing short of revolutionary. 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,” said Dax Dasilva, Founder and CEO of Lightspeed.
“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.”
SMBs will be able to benefit from having a single platform with access to suppliers directly, in much the same way as the major e-commerce chains. Lightspeed Supplier Network offers small business owners the ability to track shipments more precisely and know exactly what they’ll be getting when deliveries arrive.
Users will also find that new suppliers and their products are much more discoverable, with item details and accompanying photos being imported into their POS with one-click simplicity. The cloud-based system adds another dimension in that retailers can be sure that they’re using brand-approved product names, descriptions and associated imagery.
“With the growing demand for bicycle-related products and supply being lean, product curation and inventory visibility are key to success for SMBs,” said Charles Bisaillon, Retail Success Leader for Specialized Bicycle Components, which has been trying out the system.
“The direct integration our brand has with Lightspeed creates an ecosystem that ensures our retailers have full visibility of Specialized products to satisfy that growing demand, a critical capability in 2021.”
Lightspeed’s Supplier Network will be initially available for retailers in the bike, outdoor sports, jewellry and pet product marketplaces. A wider rollout of the system will follow in due course.