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In today's challenging world of retail, the old rules no longer apply. We live in a data rich society where information is abundant and can prove to be the competitive advantage if leveraged correctly. Today's biggest leader in the data game is Wal-Mart. Their vendor collaboration program is best-in-class with their Retail LinkŪ system and an overwhelming commitment to involve their vendor base in almost every step in the decision-making process. Wal-Mart has even taken it a step further by requiring that all their suppliers analyze their items at every door on a continuous basis and present any actionable recommendations to their buyers and replenishers.
Their Retail Link system is the core of the collaboration program. At over a petabyte in size (yet planned for 4 petabytes)*, it is one of the largest data warehouses in the world. Wal-Mart is reported to have spent well over one billion dollars on building and maintaining the system since its inception. Given that investment, it would be very hard for any other retailers to catch up.
But luckily, technology has evolved since Wal-Mart began its quest for data dominance. The cost for processors and database storage has drastically dropped. No longer is there a requirement that large databases be hosted by a retailer and now the options have expanded for either retailer hosted or retail supplier managed data POS warehouses.
Velocity can be that core technology for your vendor collaboration program. Along with our training and strategy coaching programs, true collaboration programs can be put in place to provide retailers with the competitive advantage they need to compete in today's world of retail. If you would like information on our retailer collaboration programs, please contact us.
* http://www.eweek.com/c/a/Storage/WalMart-Plans-for-Its-4PB-Data-Warehouse/
Retail Link is a registered trademark of Wal-Mart Stores, Inc. Vendor Managed Technologies, Inc. is not sponsored by, affiliated with, or endorsed by Wal-Mart Stores, Inc.
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