As an established brand/retailer with a healthy spread of brick-and-mortar stores, in-season planning involves optimal inventory distribution to all points of sales. In-season planning can be categorized into, new season allocation, at the launch of the season, and mid-season replenishments and replacements. Planning involves budget allocation, trend analysis, past sales analysis, etc, which gets half… Continue reading Optimize inventory distribution this holiday season with Increff MS Pro
The Economist, in 2017, referred to data as “new oil”, the one ingredient every business needs to drive the world ahead. Covid, classified as a “black swan” event, shook the entire social and economic status quo, and further emphasized the importance of intelligent data analysis and smart decision-making. Brands and retailers had to take a… Continue reading Recover from post-pandemic data & sales loss with smart merchandising
As the marketplace becomes increasingly competitive by the day, store managers are dealing with a tremendous amount of pressure to maximize sales, meet targets and boost profitability. In the last couple of years, the conditions created mainly by the pandemic have only added to that pressure and compelled brands to explore new options and innovative… Continue reading 4 Myths on Store Sales Maximization
The fast-changing retail industry is increasingly adopting a customer-centric approach. Customers have a wider array of options and are no longer willing to buy whatever brands offer them on a platter. In the past, retailers used to purchase merchandise based on their gut instinct or mere hunches. But today, staying relevant in the market calls… Continue reading 5 Ways to Control Inventory in the World of Lean Retailing
You have probably heard about the concept of inventory optimization, but do you know how to make the most of it? Inventory management is a tricky business. Too much inventory and you are tying up valuable resources that could be used elsewhere, too little inventory and you risk losing sales. What if there was a… Continue reading Inter-store transfers; An inventory optimization solution
While online shopping rises in trajectory, stores have continued to remain highly relevant. In the US, over 85% of retail still happens in physical stores, while ecommerce still represents a small percentage of total retail sales, that is, only 14.5%. Stores are widely known to add an element of localization to the business. Having a… Continue reading 5 Extremely Useful Techniques to Boost Store Sales
In today’s retail environment of fast fashion, retailers have to replenish their inventory constantly. One of the main challenges faced is finding the right balance between being proactive in forecasting demand and reacting to changes in supply and demand. Seasonal inventory management is a business method used to manage inventory allocation and replenishment most… Continue reading Seasonal Inventory Management: New-Season Allocation & Mid-Season Replenishment
Creating a winning product mix and depth in stores is one of the biggest challenges for the modern retailer. The rise of online shopping, and the growth of e-commerce, have made it even more challenging for traditional retailers to keep up with demand in today’s dynamic omnichannel marketplace. The rise of e-commerce has been good… Continue reading Retail assortment planning; Creating a winning product mix & depth in stores
While brands are increasingly taking to the digital space, physical stores continue to play an important role. Two ways in which physical stores can complement online channels are by acting as local fulfillment centers and being an easy contact point for receiving returned goods from customers. Omnichannel poses a number of challenges for optimizing operations,… Continue reading The Art of Merchandise Planning for Omnichannel Retail
As omnichannel retail becomes a steady trend, conventional allocation and forecasting can cost millions and appear to be rather tedious. The omnichannel approach demands proactive and integrated strategizing across all points of sales, responsive allocation, and timely replenishment. The growth of omnichannel retail has therefore created new challenges for retailers, especially in allocation and replenishment.… Continue reading Allocation and Replenishment for Omnichannel Retail
