Macys.com Supplier Program – Streamlining the Supplier Onboarding Process
Macy’s is offering diverse brands an easy platform for engaging and connecting, using more than 650 stores as fulfillment hubs. Their aim is to make this program accessible and engageable for suppliers.
Retailer improving supply chain with data science for faster product delivery to customers. Now managing both e-commerce and in-store inventory together as one centralized team.
Macy’s is one of the largest retailers in America, and their purchasing power can result in 10x or 100x growth for suppliers. Furthermore, they’re known to pay quickly and consistently which helps build strong relationships between them and suppliers; their early payment platform also allows them to accelerate or delay invoices depending on their cash needs.
One advantage of becoming a Macy’s supplier is access to their online network for logistics and product information. Designed to reduce friction while saving time and money by streamlining supply chain processes, this network is easy for both Macy’s and their suppliers to utilize and provides numerous benefits.
Macy’s marketplace team has established an effective system to vet sellers and products to meet its quality standards, including reporting and monitoring systems to track performance, in order to deliver a consistent experience to customers and drive sales. In addition, this approach has provided specific experiences for diverse-owned, women-owned, and sustainable brands–which is key differentiator between it and other third-party marketplaces.
Macy’s is one of the largest department store retailers in the United States and as such has specific requirements for its suppliers. All suppliers must be compliant with electronic data interchange (EDI), meaning all orders must be transmitted and received digitally. Furthermore, Macy’s requires each shipment have an address specified for shipping via their Transportation Routing Guide.
Macy’s also strongly values working with diverse suppliers and is always exploring new ways of partnering with them. Recently, they unveiled an online marketplace for third-party sellers that will give customers access to an expanded selection of goods in 20 product categories from 400 new brands.
Step one in becoming a Macy’s supplier is to complete a Supplier Profile. This profile should contain high level information about your company and products that allows Macy’s to assess whether you fit its assortment expansion priorities. Your profile will then be retained for future merchandising efforts and revisited regularly; if it proves suitable CommerceHub can match you up with an buyer via BuyerConnect while, otherwise, remain within Retailer Connection Network where other retailers may see it.
Simplifying supplier onboarding processes is vital for retailers looking to ensure quality control and enhance supply chain efficiency. By setting out clear expectations and requirements from the start, companies can reduce time spent on administrative duties while building stronger relationships with their suppliers.
Macy’s announced earlier this year the creation of an online marketplace platform developed in collaboration with service provider Mirakl. The third-party marketplace allows Macy’s to expand their product offering without incurring additional costs for sourcing, purchasing, stocking and delivering goods directly. Furthermore, this also enables collaboration among select brands and sellers that meet high quality standards.
To be considered for Macy’s marketplace, brands must submit a Supplier Profile. This document contains high-level details of their products and categories offered, which is used to help determine whether a seller meets Macy’s assortment expansion priorities; additionally, this profile will be maintained and revisited periodically in case Macy decides they want to work with that vendor again in the future.
Even if a company isn’t selected for the marketplace, they could still qualify to sell with Macy’s through buyer-facing channels. To do this, they must complete a registration process in SAP Ariba in order to begin electronic invoicing.
Macy’s uses its platform to manage supplier relationships and deliver an effortless shopping experience for its customers, as well as identify and nurture emerging brands – potentially increasing both their sales as well as Macy’s own.
Macy’s marketplace presents third-party sellers with an amazing opportunity. Its curated experience can draw more shoppers and generate higher revenues than traditional storefronts, while giving emerging brands access to an established retailer’s customer base – something which could provide significant competitive edge for newer brands.
Macy’s provides multiple payment options for its customers, from early payments and Klarna installment payments at online checkout, to price matching options and other ways of saving money when shopping with them.
Macy’s is planning a curated marketplace launch to provide its merchandising teams and stores with new opportunities for growth. The marketplace will focus on diverse-owned, women-owned, sustainable brands with support models tailored specifically towards driving growth for these sellers. Each supplier must submit an 856 EDI Ship Notice detailing carton level shipments sent directly to any Macy’s facility or distribution center for inclusion into this initiative.
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