Rapid response to changing market conditions and customer demand is vital to retail success. Without a clear understanding of data trends and a way to plan for inventory requirements and sales, retail operations can incur high operating expenses that cut into profits and create huge losses.
Retailers require a highly agile approach to information gathering, analysis, and decision implementation in order to streamline their business operations.
Decision 360 provides Store Performance and Inventory Management solutions that provide a 360-degree view into operations and performance, as well as the ability to collaborate, analyze, and act quickly on the data-driven decisions. With these tools, retailers can:
- Access data from multiple enterprise systems containing sales, inventory, customer, and cost information to quickly create a unified view of store sales, customer activity, and performance
- Efficiently model, plan, and forecast future sales and inventory requirements in order to maximize sales, optimize inventories, and improve operating margins
- Collaborate around live data with local store managers and other stakeholders (merchandising, logistics, suppliers, etc.) on key issues and sales trends to improve the quality and speed of decision-making
- Execute decisions directly into operational systems and workflows, as well as integrate decisions bi-directionally into line-of-business systems
- Analyze sales data from all stores in real time to make fast decisions on inventory, pricing, and special sales
Retailers report significant benefits to their bottom line using Decisyon 360 solutions, namely:
- Increases in revenue by up to 5%
- Reduction in inventory holding costs by up to 30%
- 70-90% reduction in emails, phone calls, and meetings
- Reduction in the P&L impact of excessive and obsolete inventory by up to 30%
- Reduction in operating expenses by 10% - 15%
- Maximized ROI on marketing spend
- Achievement of sell-through targets set by suppliers to gain greater cost breaks and produce incremental funds to drive market development.