Costco Wholesale and Information Resources (IRI) have launched Costco Collaborative Retail Exchange (CRX) in Australia.
A single, global solution for category, POS and supply chain tracking at Costco, CRX has already been launched in the US, Canada, Mexico.
Introduced in 2004, CRX enables manufacturers a detailed solution for total Costco tracking.
Rather than depending on several disparate data sources to gather information, manufacturers can use this single tool to obtain a full view of Costco’s global business.
The platform offers a consistent set of internal data points to meet all Costco manufacturer needs and facilitate a collaborative relationship between manufacturers and buyers.
IRI and Costco Wholesale have expanded the programme with the launch of Costco CRX Australia.
More than 750 global vendors have taken part in the Costco CRX service since it launched in the US in 2004 and in Canada in 2009.
Rick Woods of Costco Australia said: “The Costco CRX platform has been a tremendous success in the US and Canada, so we’re thrilled to be able to offer our manufacturers in Australia the same quality solution and enable a more global view of Costco’s sales.”
Due to Costco’s low operating margins, manufacturers need to be diligent with forecasting and order management to avoid inventory issues.
With Costco CRX’s daily, updated suite of supply chain management measures, including POS and inventory information, subscribers can make faster business decisions, driving more accurate forecasting and demand planning, more efficient business practices.
A leading wholesale club operator in the US, Costco Wholesale operates more than 460 membership warehouse stores serving 45 million cardholders in 37 states and Puerto Rico, as well as Canada, Japan, Mexico, South Korea, Taiwan, Spain, UK and Australia, primarily under the Costco Wholesale name.
It operates Costco Online, an e-commerce site in the US, Canada, the UK, Mexico, Taiwan and Korea.
IRI is a provider of big data, predictive analytics and forward-looking insights.