Retail

Drive Out Waste. Drive In Profitability.

The world of retail is fiercely competitive and customers continue to demand more — more products, more information, more speed. At PRGX, our retail experts deliver savings and insights to help you stay ahead of the competition and capture a bigger share of the consumer wallet.

Data-Driven Improvements to the Bottom Line

No matter where you need the most help — from sourcing to merchandising to promotional effectiveness — PRGX has solutions to help drive out waste and shore up the bottom line. 75% of the top 20 global retailers rely on our expertise in data-driven analysis to keep them one step ahead of their competitors and their customers. We have solutions and experts for every type of retail operation, including: grocery, mass merchant, drug retail, online, department store and specialty retail.

Business Challenges for Retailers

SKU-level Insights

With the majority of data captured at the category or supplier level, retailers struggle to understand their SKU-level margins, promotional effectiveness and other critical data points.

Managing Overpayments

In a transaction-intensive industry like retail, overpayments are virtually inevitable. To maintain a strong financial position, it’s critical to identify and recover overpayments and then put processes in place to reduce future overpayments.

Managing Suppliers

You deal with thousands of suppliers and need efficient, automated ways to maintain quality supplier data, ensure compliance, improve communications and settle disputes.  

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How PRGX Helps

Recovery Audit

Built to recover overpayments, we’ll help analyze more than 300 potential points of leakage including merchandising, accounts payable and contract compliance.

  • Retail Merchandise Audit
    We uncover overpayments across the entire merchandising process including allowances, pricing, freight and more.
  • Accounts Payable Audit
    We audit payments on a near real-time basis to identify and recover overpayments quickly and help avoid the same mistakes in the future.
  • Contract Compliance Audit
    We help focus on the suppliers and contracts that present the greatest risks, maximizing returns, reducing risk and providing insights that improve supplier contract management and controls moving forward.
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Merchandise Margin Improvement

There’s a wealth of data to help you determine which products are moving the best and at what price, but extracting that data can be daunting. As a Big Data expert, PRGX can help you mine your data for powerful insights and strategies to ensure you have the right products, at the right price and in the right quantities, maximizing sales and margins.

  • True Net Cost
    Once we understand what you’re really paying, we leverage historical and industry norms to help you negotiate reductions in COGS.
  • Purchase Price Variance
    Create a baseline for supplier negotiations, understanding and prioritizing where to get the best and fastest returns on your negotiations.
  • Promotional Effectiveness
    We’ll create plans for what you should do more — and less — of, in order to maximize sales and margins.
  • Global Product Aggregation
    We leverage machine learning, web scraping, and clustering technologies to match equal or equivalent products across your catalog base, or between banners or entities.  This allows you to compare price or costs or funding of similar items to identify facts to take to suppliers.
  • Cost Harmonization/Opportunity Identification
    Harmonize true net costs of equal and equivalent items either within region, or across regions, to increase margins through a fact-based quick-win discussion.

Spend Visibility

PRGX has the tools and expertise to help get to the bottom of spend and leverage the data to improve spend.

  • Spend Visibility & Classification
    Find the quick hits and longer-term strategies that ensure you’re buying the right products at the right price and in the right quantity.
  • Purchase Price Variance
    Create a plan for supplier negotiations, understanding and prioritizing where to get the best and fastest returns on negotiations.
  • True Net Cost
    Once we understand what you’re really paying, we leverage historical and industry norms to help negotiate reductions in COGS.
  • Promotional Effectiveness
    We’ll create plans for what you should do more — and less — of, in order to maximize sales and margins.

Cash Chain Optimization

PRGX’s fact-based approach combines your data with our deep industry benchmarking and analytical capabilities to provide visibility into current payment terms across suppliers, categories and business units. We’ll uncover optimization opportunities in three key areas:

  • Days Payable Outstanding
    Ensure a long and standard payable cycle while meeting on-time expectations
  • Days Sales Outstanding
    Fulfill orders and achieve payments in the quickest possible manner
  • Days Inventory Outstanding
    Manage inventory to meet demand while minimizing holding and transfer costs

Supplier Services

High-quality supplier data is critical to achieving procurement strategies. We can help design and implement a supplier data management strategy reducing risk, maintaining compliance and improving spend management.

  • PRGX Supplier Information Management
    Organize and manage comprehensive supplier information while maximizing supplier engagement and data quality across a global supplier base to minimize risk and increase efficiency. 
  • Deduction Management
    Automate your process to improve efficiency and bring better visibility to dispute data. You’ll experience increased accuracy, reduced dispute resolution costs and improved supplier relationships.
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