MONTREAL — Lightspeed, a cloud-based commerce platform for omnichannel retailers, announced Jan. 12 the launch of its Lightspeed Supplier Network for North American retailers. The solution is a fully integrated stock ordering and supply chain management tool designed to democratize inventory data for small and midsize businesses (SMBs) in the era of COVID-19.
“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.”
Working between businesses and brands, Lightspeed’s new Supplier Network will automatically update supplier catalogs, shipment handling details, and provide tools for order management all through a cloud-based system.
Lightspeed said this new solution will help SMB retailers adapt to demand more quickly to compete with larger retail chains. Suppliers will also benefit from real-time data and a ready-to-buy customer base, the company said.
The Supplier Network will be available for North American SMB retailers in the pet industry — including pet food and treat sectors — as well as the bike, outdoor sport and jewelry markets.
“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. “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.”
Other key benefits of this solution include making new suppliers and products more visible to retailers, including product details and photos, with less barriers typically found in e-commerce selling. Additionally, suppliers can control and streamline their branding when importing product details and assets into the system.
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