Lightspeed Rolls Out Vendor Network For SMBs

Montreal-based omnichannel commerce platform provider Lightspeed has unveiled the “initial availability” of the Lightspeed Supplier Network for merchants in North America. Merchants in the pet, jewelry, outdoor sport and bike sectors will be able to access the network at first, according to a Tuesday (Jan. 12) announcement.

“This new tool enables independent businesses to discover new products, more easily sell online and make better use of their capital to strategically increase order frequency,” Lightspeed Founder and CEO Dax Dasilva said in the announcement.

Lightspeed says the direct connection between companies and brands provides retailers with a vendor catalog system that updates without intervention, simple order management technologies and automated shipment handling directly inside of its cloud-based technology.

Moreover, the company says its network lets small and medium-sized businesses (SMBs) more simply begin using a “demand-focused inventory model” to stay flexible, according to the announcement.

The network puts independent companies on the same footing with big chains, according to the firm, which also notes that the network gives vendors access to a collection of clients that are ready to purchase in addition to live sell-through information.

The Lightspeed Supplier Network makes new vendors, as well as items, easier to find, and it heightens control of vendor branding, among other benefits, according to the announcement.

“The direct integration our brand has with Lightspeed creates an ecosystem that ensures our retailers have full visibility of Specialized products to satisfy that growing demand, a critical capability in 2021,” Charles Bisaillon, retail success leader at Specialized Bicycle Components, said in the announcement.

The news comes as Lightspeed purchased restaurant management cloud software firm Upserve, as reported in December. Lightspeed is also buying point-of-sale (POS) company ShopKeep in a move to further digital transformation as the pandemic speeds up changes to the purchasing and selling environment, as reported in November.