Retail Optimization: Balance Supply and Demand to Boost Sales and Cut Costs
Our increasingly omnichannel retail environment makes it more challenging than ever to deliver the exact items your customers want, at the right prices, across all your purchase points. Don’t settle for just avoiding stockouts—use artificial intelligence and demand sensing to predict your future market needs, improve your in-stock positions, and optimize your inventory investments. When you synchronize your sourcing activities from vendor management all the way down to store merchandising, you can create plans that boost sales and increase your margins while reducing your inventory costs ensure that your corporate social responsibility standards are being followed.
Retail Optimization Components
Merchandise Planning: Drive your assortment plans and allocation strategies by transferring your high-level financial goals into chains and store-level plans. Create financial and unit profiles to meet revenue goals and build brand strength. Easily identify your optimal merchandising mix by considering multiple factors such as item attributes, store cluster, location and capacity, the quantity of product to be carried, and the phasing of products into stores. Convert your high-level financial goals into chain and store-level plans for your financial and unit profiles. Plan based on sales, shipments, open-to-buy, receipts, and other important metrics—and keep your top-down and bottom-up plans in sync.
Assortment Planning: Transform merchandise targets into collections that you can deploy down to the store level. Review your channel, cluster, and store-specific assortment plans, then turn them into purchase orders and store allocations.
Allocation: Distribute product and manage replenishment using flexible rules and automated workflows to serve customer demand and accelerate inventory turns. You can then model the performance of each item against historical data to create more accurate long-term projections. As your selling season progresses, create “pull-based” shipments based on POS demand signals and re-forecasted projections so that you can optimally position available merchandise.