Last week Trace One announced the launch of Trace One E-Sourcing, a new solution for global retailers to bring private labels to market faster. For resilience in retail’s complex, constantly-evolving environment, Trace One E-Sourcing extends digital best practices across all stages of the product lifecycle to help brand owners thrive by maximizing their process efficiency.
This new retail innovation streamlines CPG product sourcing and business-to-business tender (RFx) processes, helping retailers save time, boost agility and gain a competitive edge with private labels consumers love. By integrating cross-organizational private label efforts, Trace One E-Sourcing enhances retailers’ efficiency as they source and develop the right products to make their assortments more desirable. Private labels help retailers differentiate their offerings, promote their brand, increase their margins and delight consumers by reflecting emerging trends, including healthy, local and sustainable products.
“Retailers win by making their private labels available to consumers faster and get ahead of innovation,” said Christophe Vanackère, CEO, Trace One. Private label sourcing and RFx processes are time-consuming yet strategically significant to retailers’ success. Accelerating these processes can give companies an advantage to reach faster all the manufacturing ecosystem and develop business with the best players, “With Trace One E-Sourcing, we want to empower retail companies of all sizes to overcome their challenges and boost their productivity by using proven innovations,” said Christophe Vanackère.
Through digital collaboration, Trace One E-Sourcing connects retailers and CPG suppliers around the world. “Retail partners gain a single, online source of private label RFx information rather than multiple types of offline and online tools, which improves data accuracy and efficiency,” said Claire Bui, Product Marketing Manager at Trace One. Overall, this new offering enhances communication and time savings for product discovery and private label development.
Amid the pandemic, more global retailers now embrace digital practices to navigate consumer and market trends. Digital systems and processes have evolved into business necessities for retailers to stay competitive and attract happy, loyal consumers. For more information on Trace One E-Sourcing, contact Trace One.