Retailers: Many of the world’s largest retailers, including Walmart and Kroger, are utilizing the unique capabilities of Nexxus Group® to expand and enhance their growing and increasingly important consignment business. Some retailers are also using us to establish game-changing store-within-store configurations as well. The Nexxus Group®’s advanced technology platform and business processes are an absolutely critical factor in the accelerating shift to consignment, as major brands will only shift to a scan-based trading (SBT) model if they have comfort that sophisticated and experienced business operators, playing a critical neutral role as a trusted center of excellence between the parties, will handle the unique complexity and scale of this innovative business approach.
Suppliers: Many of the largest brands in the world incorporate a consignment business model into their overall sales and distribution strategies by exclusively utilizing the impressive capabilities of Nexxus Group to expand physical retail locations of their products to non-traditional retailers and increase product SKUs within their existing retail footprint. Some brands are also using us to establish game-changing store-within-store configurations as well. The Nexxus Group’s advanced technology platform and business processes are an absolutely critical factor in the accelerating shift to consignment, as major brands will only shift to a scan-based trading (SBT) model if they have comfort that sophisticated and experienced business operators, playing a critical neutral role as a trusted center of excellence between the parties, will handle the unique complexity and scale of this innovative business approach.
Nexxus Group® partners with over 100 retailers and thousands of suppliers, processing over 20,000 payments per month and handling millions of transactions daily. Transparency and accuracy are hallmarks of our holistic business approach, as our partners jointly rely on us to drive sales while minimizing shrink and eliminating unnecessary costs. Suppliers value the precise data management and vast information on consumer purchasing activity the Nexxus Group® offers to help them grow their businesses. Most importantly, these vendors trust they will be paid accurately and on time. They think of Nexxus Group® as an extension of their current staff, exclusively focused on this strategic initiative.
Utilizing Scan Based Trading enables vendors of goods and products to maintain ownership of inventory housed within retailers’ stores or warehouses until those items are scanned at point of sale. Benefits of this methodology include reduced invoice discrepancies, improved data management, tighter shrink control, enhanced vendor-retailer relationships, increased sales, lower inventory cost, shorter time to market and greater customer satisfaction.
So, how does it work?
Nexxus Group® changes the way retailers buy products to put on their shelves and how they pay for those products. Imagine you walk into a store and decide to purchase an item. Once the clerk scans the product and the laser hits the bar code, the Nexxus magic happens – the retailer pays us and we pay the vendor responsible for product delivery. Retailers pay only when inventory is sold.
The simple and efficient paperless process makes Nexxus responsible for coordinating with and reimbursing thousands of local and national vendors who deliver their products to our clients across North America.
Realize more efficient and effective product category management while enjoying increased sales and decreased supply chain costs.
For suppliers, our industry standard online platform provides state-of-the-art features and analysis needed to improve profitability.