Summary of Innovation
Made4net, a global provider of cloud-based Warehouse Management Systems (WMS) & end-to-end supply chain execution software, proudly presents BuyerExpert—a holistic solution catering to diverse needs within retail focused procurement teams. BuyerExpert integrates essential features like Store Allocation, Order Management, Procurement, and Vendor Compliance and Scoring. Acting as a vital link between store ordering systems and warehouse inventory across the network, the system leverages store ranking for order processing decisions, ensuring seamless processes from forecasting to purchasing.
Key Features of BuyerExpert:
• Order Management: Consolidates store requirements across departments and products, driving procurement plans and building fulfillment orders for distribution centers.
• Store Allocations: Compares product demand from store against warehouse inventory, managing inventory shortages or overages, including store replenishments.
• Procurement: Centralizes purchasing across all departments, streamlining consolidation flow.
• Vendor Performance and Compliance: Sets rules for pricing, automating cost filling on POs, imports costs from accounting systems, and flags POs with costs outside SKU tolerance.
• Vendor Invoice reconciliation: Enables the process of vendor’s invoice matching against the inventory that was received at the warehouse or store.
Innovation Statement
BuyerExpert serves as a single platform fully integrated with warehouse management, finance, invoicing, and forecasting. It offers end-to-end visibility, from proposals to POs, vendor EDI communications, ship confirmation, receipt, and invoice reconciliation. This results in a shared user experience and enhanced service levels.
Applicability
BuyerExpert bridges a gap that exists between the warehouse and stores, and retailers will benefit from the solution's ability to augment their buying experience.
| Posted Date | 1/19/24 |
| Contact | Renee Truttmann |
| Contact Email | Renee.Truttmann[at]made4net.com |
| Category | Best IT Innovation |