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Reduce Markdowns
Improve allocation planning for revenue uplift.
Improve Sales
Use data to sell the right items as the right times.
Prevent Out of Stocks
Improve your replenishment process.
Buying & Planning Use Case
Profitect’s Planning and Buying module pinpoints individual store characteristics to determine when product is over and under-allocated. Our machine learning technique will cluster stores at the SKU level based on real consumption behaviors, eliminating the need to rely on demographic data. The solution recommends simple language actions to adjust the buy or re-allocate by pairing under-allocated stores to over-allocated stores. Profitect reduces markdowns by increasing sell through at full price, facilitating revenue uplift, and better service.
Merchandise management can be tricky to optimize. Profitect highlights issues with demand planning or forecasting. If demand is higher than expected, Profitect generates an action plan to order more units from the manufacturer accounting for lead time, lift, promotions, end of season, etc. This prevents potential missed sales opportunities through better merchandise planning and forecasting. The same is true for the vice versa scenario when the demand is under expected performance, in this instance the scenario plan and prescriptive action would reduce buy, hold allocation, and minimize end of season markdowns or waste.
Profitect analyzes delivery and KPIs comparing it to the agreed Terms and Conditions by each vendor. This helps maximize service level agreements, supplier management, and customer service, which in turn improves customer satisfaction and sales. Vendors that are not delivering based on orders would be identified and prescriptive actions triggered to the right buyer to discuss solutions.
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Measure & Adjust Forecasts
Profitect’s Planning & Buying module compares incoming P&B data with customizable benchmarks and statistical metrics from the forecast, plan, and actual sales at the style, size, color, and UPC level and uses pattern analysis to find anomalies and areas that need to be addressed. Forecast accuracy, sell through percent, order and forecast adjustment rate, vendor compliance and T&Cs are just a few of the areas that are automatically analyzed.
Leading Retail Customers
“…after all the time and money spent implementing a solution, the passive nature of the reports delivered by most vendors leaves traditional business intelligence tools underutilized and undervalued”.
John Deane, CIO, ascena retail group
Areas Profitect Analyzes
- Sales
- Replenishment and Distribution Orders
- Returns
- Markdowns
- Inventory locations (On-Hand, In-Transit, On-order)
- Shipments to stores
- Allocator overrides and allocation planning
- Forecast – waterfall charts
- Lead times
- Terms and Conditions
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Prescriptive Analytics is Making Waves with Retail and CPG Companies