Supply Chain IQ Score leverages
shelf-level SKU data powered by Crisp to deliver better business
outcomes in an unpredictable economy
NEW
YORK, May 18, 2022 /PRNewswire/ -- Omnicom Media
Group (OMG), the media services division of Omnicom Group Inc
(NYSE: OMC) has launched the Supply Chain IQ Score, the industry's
first supply-chain based media activation tool, in partnership
with Crisp, an open retail data platform.
As affirmed in last month's White House economic report, the
supply chain crisis that erupted during the Covid crisis is not
fading away as the pandemic subsides. With inventory challenges
becoming the new normal, marketers need the ability to quickly
adjust their media spend to product availability without negatively
impacting performance.
Powered by Crisp, which pipes normalized data from more than 80
% of the top U.S. retailers and distributors including Target,
Amazon, UNFI and CVS into the Omni open marketing
orchestration platform that supports all Omnicom agencies, OMG's
Supply Chain IQ Score gives media planners day-to-day visibility
into SKU inventory data at the physical store, digital shelf, and
inventory-in-transit levels, enabling media investment to be
shifted away from low inventory products in real time.
Historically, that shift would have been where the response
ended - usually after a significant amount of budget had already
been expended sending consumers to empty shelves before inventory
reporting caught up with the ad spend. However, using the Supply
Chain IQ Score, as soon as an inventory issue is revealed planners
can leverage two years of sell-through and distribution data from
Crisp to quickly find an SKU in the brand portfolio that has high
repeat purchase behavior, healthy inventory, and strong market
basket correlation to the low inventory item. Working within Omni,
the team can determine how much spend needs to be redeployed to the
alternate SKU to meet performance targets, and execute the new
buy.
"The Supply Chain IQ Score gives brands the power to quickly,
strategically and effectively move media investment at the speed of
sales," says Marc Rossen, SVP
Investment and Activation Analytics for OMG North America. "It
flips the historic response to supply chain disruption from 'pull
the spend back 'to 'push the spend toward" - increasing media ROI
and helping our clients meet performance goals despite supply
constraints."
Adds Crisp founder and CEO Are Traashdahl, "You can have the
best insights, the most engaging content, and a big media budget -
but at the end of the day, you can't sell what's not on the shelf.
Leveraging the combined force of Crisp's data-delivery technology
and Omni's marketing orchestration capabilities, the Supply Chain
IQ Score enables unprecedented alignment of product inventory and
media investment, assuring that marketing dollars are sending
consumers to what IS on the shelf."
According to OMG Managing Director, Commerce, John Schorr, the Supply Chain IQ Score will also
be deployed in a variety of use cases beyond managing for low
inventory, including geotargeting ad delivery according to actual
on-shelf inventory; measuring sales-lift in real-time; local store
campaigns; supporting new-product launches; and aligning promotion
to product freshness windows to reduce spoilage and waste.
Summing the long-term impact, Schorr says, "The Supply Chain IQ
exemplifies a future where media will be a true catalyst for
consumer demand, influencing e-sales operations and supply chain
distribution as we connect product availability to marketing
resulting in a better consumer experience."
The Supply Chain IQ Score is the latest in a suite of
first-to-market Commerce products from Omnicom, including the first
private marketplace for point-of-purchase digital screens and an
enterprise-wide strategic global partnership with
Firework, the world's largest livestream commerce and
shoppable video platform provider, delivering shoppable
livestreaming video directly to brand websites. Earlier this year
Omnicom named Frank Kochenash as its first CEO, eCommerce,
charged with orchestrating expertise from across the network to
unlock growth in the rapidly expanding Commerce space for Omnicom
clients.
ABOUT OMNICOM MEDIA GROUP
Omnicom Media
Group (OMG) is the media services division of Omnicom Group
Inc. (NYSE: OMC), a leading global marketing and corporate
communications company, providing services to more than 5,000
clients in more than 70 countries. Omnicom Media Group includes
full- service media agencies Hearts & Science, OMD and
PHD; performance marketing agencies Resolution and Jump 450;
Optimum Sports Media and Marketing; and the Annalect data and
analytics division that develops and manages the Omni marketing
orchestration platform underpinning all Omnicom agencies.
ABOUT CRISP
Crisp leverages the power of the cloud to
connect and normalize disparate data sources to provide real-time
insights and trends. CPG suppliers, retailers, and distributors use
Crisp to manage supply more efficiently, reduce waste and skyrocket
profitability. Learn more at www.gocrisp.com.
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SOURCE Omnicom Media Group