Retail Industry
Globally, the retail industry continues to change in dramatic ways. Intense competition, reducing margins on branded products and capricious customer loyalty are some of the key challenges that retail enterprises face today. As a result, retailers are looking at strategies to help them increase profitability and market share and a more tightly knit relationship with suppliers and vendors.
Retailers are taking notice of the advantages that private label goods bring them. Private label goods mean better margins, better quality at lesser prices than branded goods and thus better overall profitability. In view of these benefits, retail companies worldwide are investing more and more to increase the number and types of private label offerings.
A study by the Private Label Manufacturers Association reflects this trend. The results show that private labels and products exclusively designed and made by retailers account for one of every five items sold daily in the United States, representing more than $50 billion in retail sales.
The steady growth of private label on one hand is joyous news for retailers but on the other, brings a series of challenges that retail enterprises have seldom countered in the past. The private label phenomenon is now transforming retailers into quasi-manufacturers meaning retail enterprises now need to incorporate new business functions that were hitherto part of a manufacturer's domain.
As in the manufacturing industry, constant and consistent innovation is becoming the business imperative for private label retailers. It is important that this innovation occurs in all dimensions -- product, process, and organization -- to improve competitiveness and hence overall business performance. This requires an environment that nurtures collaborative innovation and enables the leveraging of the intellectual assets of the enterprise to its maximum potential.
Global Landmark recognizes these business challenges and believes that Product Lifecycle Management (PLM) solutions are the best way to enable the creation and sustenance of such an environment. Through this strategic approach, Global Landmark helps retail enterprises achieve their business goals of reducing costs associated with new product development and launch, inventory and supply chain management improving quality, and shortening time-to-market. We help retail enterprises manage product related information, whether within an organization or throughout its extended enterprise by a creating secure digital super highway for intellectual assets to ensure that the right product information is available at the right time, to the right people and in the right context.  Top
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