INVENTORY MANAGEMENT SOFTWARE FOR RETAILERS
Demand Forecasting for Retailers is a proven forecasting, replenishment, and allocation solution for optimizing demand and supply considerations in the retail value chain. It helps retailers achieve optimal in-stock positions while generating more profit out of their number one asset – inventory.
It also helps them effectively managing millions of SKUs across multiple stores, warehouses and origination points requires state-of-the-art technology that can harness sales and inventory data to increase in-stock performance while optimizing supply chain planning and inventory management processes.
Predict & Track Inventory Accurately
To remain competitive, retailers must have the right products in the right stores, at the right time, at the lowest cost. This requires the ability to track seasonal variations, predict the impact of promotional events, and take into account demographic and local differences in order to react quickly and take advantage of consumer demand trends.
Improve In-Stock Performance with Less Inventory
- Ensure that your best selling products are always in stock, while reducing overstock inventory for slow movers.
- Assign target customer service levels for every SKU based on corporate objectives, item sales rank, profit rank, local demographics, or other factors.
- Automatically calculate the optimal safety stock by considering service-level objectives, lead times, and demand for every item in every warehouse or store.
- Reduce safety stock inventory by forecasting demand more accurately and automatically adapting to changing demand patterns over time.
- Effectively plan for promotional events and predict the demand lift based on causal factors, preventing lost sales from out-of-stocks and eliminating markdowns due to overstocks.
More Profitable Buying
- Execute replenishment strategies and evaluate buying opportunities to maximize profitability.
- Automatically calculate how much to buy and when to buy to maximize profit for every SKU.
- Leverage the Inventory Optimization order building logic to determine the most economic replenishment strategy based on carrying and handling costs, truckload requirements, and other factors.
- Determine optimal quantities to purchase from suppliers or alternate sources based on the best possible price.
- Increase productivity of buyers and replenishment analysts by up to 100%, allowing you to grow the business without increasing head count.
- Calculate forecasting and replenishment for individual SKUs, product groups and categories with advanced store-modeling tools.
- Automate and simplify once time-consuming tasks to allow more time for strategic activities – like negotiating with suppliers or managing customer relationships.
Support Merchandising Plans
- Provide support for warehouse and store-level replenishment together with more efficient product allocation.
- Allocate products to each location based on merchandise plans, current inventory levels, and the unique demographic and local characteristics of the store.
- Incorporate presentation stock and shelf space requirements into its forecasting and replenishment considerations.
- Leverage superior analysis and reporting tools to determine the optimal product assortment, including rules-based features that automatically determine which SKUs should be discontinued based on lack of sales and other user-defined parameters.