Our client is a leading eCommerce provider of top-quality industrial supplies and safety products worldwide. Their catalog includes 1.5 million products with a range that spans from adhesives and fasteners to office supplies, janitorial essentials, tools & instruments – from trusted brands and suppliers.
The requirement is to analyze and provide competitor cross-referencing data for their customer product requirements.
The value of the cross-referencing data is to support their Marketing Engineers with information to –
- Identify a best suitable product on the client’s database as listed in the bid sheets.
- Develop pricing strategies for the client, and
- Improvise bidding decisions based on product availability and pricing; and suggest best alternatives to the customer.
The challenge for the client is to provide an efficient offer with the best product suggestions to fulfill customer needs, on a quick turnaround time without losing the bid to their competitors.
While automated cross-referencing resources can provide a product suggestion with quick turnaround time, they will not ensure the required results in terms of exact product match in the absence of UPC/Model NO.
Here is where Vserve’s Cross-referencing intelligence is a real game-changer.
Vserve adapted a combination of an automated and manual cross-referencing process to ensure 100% exact product match even in the cases where the data is not systemically aligned.
- The data from the bid sheet with all the details including SKU, Description, Manufacturer number, Manufacturer Name was transferred to a standardized output spreadsheet.
- Our cross-referencing specialist identified the product data using an automated cross-referencing search tool set with 5 predefined sites.
- The products that did not appear on the results were manually browsed on the search engines for the available information.
- The data from the competitor’s site is then cross-referred to find the exact match on the client ‘s site.
- Our team graded the product match results based on the relevance to the data provided on the bid sheet.
Grading Table: Our experts graded the products based on the following criteria
Exact matches (Both Manufacture and manufacture model number matched)
Exact match on Specification (but the slight difference in attributes that does not impact the intended purpose)
Slight Mismatch (Variations in attributes that impact the purpose and fit for intended use)
If the same type of products are not available on our client site.
Vserve provided the client with a comprehensive data spreadsheet with a detailed audit report on the exact product match to the product listing on the bid sheet. The report included data on Client’s exact match products; manufacturer specifications; client description; product part no; unit cost; and match grade on the client’s site.
This helped the client make well-informed decisions before making a bid, increasing the chance of providing a better bid compared to their competitors and improving revenue.
Benefits of Manual Cross-Referencing
- Products can be identified with its description alone in the absence of Model No/Part no
- We can sort out the right matching product, by using the product category.
- We can identify the lowest and highest price match for the required product.
Importance of Grading the Product
- The Grading system helps the client to understand the average percentage for selection they have for their customers.
- It ensures the sale that they can possibly cover for a particular bid.
- Help the client to identify more vendors to increase their selection.
- It indicates the selection of private label products over the branded products, to provide a cost-saving alternative suggestion to the customer.
Benefits to the client from Vserve’s Cross-Referencing
- Unique workflow system to notify the client by sending Auto-update mail once the output is uploaded
- The client can identify the percentage of the sale that can be made in a specific bid.
- Vserve provides more information like category, subcategory, unit of measure, quantity, etc. for a product that helps the client to understand the product in detail.
- Vserve also gives suggestions on the products which are not available currently, so that the client can contact the corresponding vendor and purchase the exact product for their customer.