Tenders need to adapt to the rapid changes and sudden growth in the private label sector
While private label brands see considerable growth in France, they have undergone fundamental changes over the last few years on the continent and in the US. The focus has shifted from budget loss-leader products to added value and responding to emerging consumer demands; in particular relating to the quality, diversity, and environmental responsibility of products, as well as a preference for local produce. In fact, the trend has gone so far that these products can serve as a showpiece for distributors. This issue with large-scale retail tenders has become even more complicated in recent years as digitization continues to progress. Professionals have had to adapt their approach and consider factors other than price when choosing private-label products.
This has led to buyers having to work hand-in-hand with product managers, packaging specialists, marketing teams, quality managers, and CSR managers. With so many people involved in the process, there is a need for a digital solution that everyone can access, such as a RFx solution, i.e. a tender management tool.
Against this background, the creation of new products is requiring processes that are much more complex. Tenders need to be carried out on a regular basis, with retailers putting out annual tenders on all of their products. However, even though managing tender responses is becoming increasingly complex, most buyers are still using old, non-integrated methods, often involving Excel sheets.
An integrated suite covering the full process from tendering to placing the product on the market...
Trace One has responded to these new challenges by adding a new tender management solution to its product range. The solution is designed for retail buyers and manufacturers alike.
Trace One’s RFx solution brings all tender responses together in one place, making it easy to compare them, all while working internally with other departments to choose the best suppliers and develop the best products The solution also meets increasing needs for process digitization and integration with a range of other systems.
Buyers currently make use of a number of digital tools: a product development system, a supplier management system, and more. In order to succeed when speed is king, buyers need to have access to an integrated solution, with everything, especially all the stages needed prior to product development, in a single place.
Digitizing tenders saves time and money when launching new products, harmonizes processes, and gives buyers an overview of the full process, allowing them to efficiently manage their tenders.
...and compatible with the Trace One suite
What sets Trace One’s RFx solution apart from the competition its that it is an integrated suite, creating a fluid purchasing process from start to finish, and allowing data to be easily be passed on to product development solutions. Another key advantage is the level of expertise involved. Trace One has been a specialist in the private label market for 20 years, and assists its clients with the unmatched experience and know-how it has developed.
With its RFx solution, Trace One is entering a new phase, taking up a position prior to the product development stage in order to extend the support it can offer to retailers, and assist them throughout the whole process of creating private label products.
Product Marketing Manager