Retail Analytics
Retail is one of the most diverse, complex and dynamic business environments there is. Thousands of ever changing products; loyalty programs; high turnover staffs; seasonal buying patterns; high and low margins products; and on-going promotions challenge even the most seasoned industry veteran. Add to all this the relentless competitive environment, fraud, and an unpredictable consumer there is an undeniable need for accurate information to support buying, staffing and a host of other decisions that must be made in this dynamic environment.
Industry Challenges
If you can identify with the common Retail Replenishment challenges below, then an Integrated Retail Replenishment solution might be right for you.
Over-Complicated Merchandising Processes
- New product development and introduction not aligned with merchandise planning and execution
- Fractured planning process, cannot reconcile plan easily
- Allocation and replenishment not driven by recent sales data
- Promotion planning is lengthy, manual process prone to error
- Markdowns sacrifice margins unnecessarily
Inefficient and Costly Supply Chain
- Incorrect inventory by retail trend may force expedited shipments, sacrificing planned margins
- Lack of event tracking throughout the supply chain
- Excess inventory in the supply chain
- Inventory not localized correctly
- Cross-channel order fulfillment difficult
Challenges Understanding Shopper Demand
- Poor understanding of market forces and lifestyle trends driving demand of retail products
- Marketing, merchandising and logistics not aligned
- Lack of clean, consistent, centralized data
Uninspired Shopping Experience
- Merchandising strategy and shopping experience inconsistent across channels
- Inadequate use of social media to engage “24/7 connected” customer and increase brand loyalty
- Insufficient staff coverage in stores during peak hours; lack of personal service
- Unimaginative product assortments and displays create "Fast Retail Fatigue"
- Lack of inventory visibility in store – retail products available in other stores, new retail product delivery dates
- Slow and complicated point of sale (POS) store systems
Difficulties in Corporate Operations
- Compliance: Unified SOX, Global Trade & Risk, Factory Human Rights, Product Safety, Environmental Sustainability
- Global financial consolidation, flexible financial reporting and revenue recognition
- Difficult to recruit and retain the best employees
Solution Benefits
Integrated Merchandising Processes
- Collaboration tools streamline design, production and procurement
- All plans are one plan delivering aligned and targeted assortments
- Allocation and replenishment based on sales activity
- Promotions executed accurately, increasing sales and loyalty
- Markdowns based on real time inventory, only where necessary
Streamlined Supply Chain
- Capitalize on retail trends and optimize inventory levels in supply chain during the right delivery period using one version of master data
- Track work in progress (WIP) in factories, finished good delivery through supply chain to distribution center (DC) and stores
- Visibility to all product and transportation costs
- One process manages cross channel order fulfillment
Understand Your Shoppers
- Understand market forces and lifestyle trends that drive demand
- All internal groups aligned to the same plan
- Master data provides one version of the truth
- Integrate to external data sources
Positive Shopper Experience
- onsistent merchandising strategy, shopping experience in all channels
- Use of Facebook, Twitter, YouTube and smart phones to capture consumer zeitgeist and create brand loyalty
- Optimized floor coverage in stores to provide personalized service
- Stylish, enticing assortments and displays
- Provide visibility to new product launches and inventory by product attributes at all stores
- Fast, easy checkout at point of sale (POS)
Efficient Corporate Operations
- Ensure compliance: unified SOX, Global Trade & Risk, Factory Human Rights, Product Safety, Environmental Sustainability
- Fast and accurate global financial consolidation and closing in multi-language, multi-currency, and multi-cultural environment
- Recruit and retain the best talent throughout the enterprise
Retail Customers
- Boston Pizza
- LS travel retail North America
- Petro-Canada
- Alberta Motor Association
- Nygard
- Kal Tire