Challenge: retail diversification

The typical challenges that we see with retailers today is that they do not have enough time to be strategic,  they spend too much time in spreadsheets and dragging data in from different sources and getting it reformatted than actually analysis it. 

Their systems are antiquated, manual and not integrated.  With retail diversifying we need to consider all our channels and planning for them, be they retail, wholesale, e-com, in essence being truly omnichannel.  So what we offer is something simple, nimble, quick and informative, giving you the insights so you’re not swimming in a sea of data.

Merchandise management takes care of all the merchandising aspects a business may have including inputs to trend analysis and range planning from creating products in the system to planning and ensuring they are allocated to stores or customers in the correct volumes and timeframes.  Being able to predict customer demand in isolation and send dedicated, store-based assortments is key to the success of your brand and return on investment.  

Unified data for informed decisions

Imagine if you only had to key in data once and that it be replicated throughout all the business processes that the data touched.  This accurate view of data allows you to see a unified view within reporting, reduces the risk of misinformation with suppliers or manufacturers which could be an expensive mistake and therefore allows you to make informed decisions in weekly trading meetings using the same data set with less errors. 

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From manufacturing to the store

Manufacturing and Procurement controls the relationship between the products, suppliers and manufacturers to bring the finished collections to the warehouses or stores. Fashion manufacturing relies on synchronised procurement processes.  Think just how your business could perform if the status of manufacturing, procurement, and inventory was available in real time.  Cloth, trims or finished products for planning purposes can be run more frequently, reducing inventories and boosting growth.

The importance of one central point to update data

Creating purchase orders to suppliers and coordinating the inbound flow of goods while keeping an eye on the critical path and making sure you can make changes quickly downstream in your process so as to not experience any delays when it comes to shipping goods out from the warehouse. To do that you need to have full visibility across the core business functions that have a requirement for that stock.  The need for a central point to update the information is paramount when there are many touch points in the process.  Everyone in the business from design through to Finance have a interest in this data so with ease you can make changes to the procurement cycle which in turn updates the relevant process information for the product’s journey and informs, for example, the warehouse ahead of time that goods are delayed and therefore capacity planning in the warehouse may be impacted.  With  the integrative nature of the solution it will alert finance that vendors will need to be paid at a specific point in time so you’ll always have clear monitoring of your cashflow.    

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It is important to keep the dynamism alive when you consider the fashion industry.  With the help of the  internet we are able to provide retailers with technologies and processes to serve the See Now Buy Now scenario by not only offering a mobile  app but also support the critical processes of making the product available very soon after its been shown on the catwalk or showroom. Orders can be placed individually and then combined to leverage the use of lean production processes to reduce waste in overproduction, deliveries, excess inventory, idle time and resources. 

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The right processes and software as key enabler for a sucessful business 

As a buyer, you have to manage and analyse data, negotiate terms of contracts with suppliers, conform to changing rules and regulations and manage inventory levels across your supply chains.  At the same time, you need to keep an eye on costs and ensure consistent processes. Working with the right processes and software is a key factor of business success. Furthermore with access to critical operational analytics and information to support decisions in real time means you’re able to react real-time therefore and no longer analysing outdated data.  Another benefit can be seen in inventory management, the merchandisers get visibility into slow-moving products and supplier lead times allowing them to make decisions that can increase inventory turnover.  The advantages in manufacturing in terms of planning and scheduling will allow buyers to quickly re-plan when faced with manufacturing issues or gaps in material availability, the result is then replicated as an alert in dashboards, allowing you to manage by exception.

Optimising loistics with automated warehouse processes

With the constant flow of incoming and outgoing products, a well-organised warehouse is an important part of the logistics process. Pairing that with transport management gives full visibility of where the products are located in the warehouse, when they are in transit and when they arrive at the stores or customer.

By automating many of the standard warehouse operations such as inbound and outbound processing, cross-docking, storage, and physical inventory management you take away the human error element, reduce the time to get orders out to customers, have fewer labour intensive procedures through more streamlined processes for the warehouse operators. 

Managing  transportation requirements effectively reduces freight expenses when you simplify your processes to include freight planning, optimisation, tendering, and booking carriers. It provides increased efficiencies throughout the supply chain and therefore passes those savings on to the business.

By devoting more time to strategic tasks rather than duplicating efforts, re-entering data and replicating repetitive tasks allows you to gain a competitive advantage.

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Predictive analytics as intelligent basis

It is not uncommon for allocators to be using excel for their allocation strategies and then re-inputting the same data into another system to distribute the stock.  This process is open to errors and doesn’t consider outside influencing factors that could perhaps change the allocation going out to stores.  With the Use of predictive analytics you can provide insights from previous seasons to interpret data and suggest suitable allocations to stores along with confirming if the stores should receive the stock in the first place or if the system is predicting a slight drop in revenue it gives you time to react to that by either increasing promotional activity or by contacting your suppliers to put a hold on production for certain product categories because you’re going to be swamped with stock.

Allocation management to secure the right stocks

This preparation stage of creating the merchandise plan and deciding which assortments should be in what stores is done at the beginning of the process in order to maximise sales and profit for the specified period of time.  The allocation itself just drives the execution of the decisions made previously upstream.  Using allocation management then to push your stock because its new, high-fashion or even seasonal clothing works on constrained supply. 

Automated replenishment planning 

Just as with the execution of allocations, replenishment is another process that can be automated based on specific masterdata settings that drive it. This pull mechanism is predominantly used for continuity lines or where there are products that don’t have a constrain on supply.   

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Retail operations as a success factor

With competition being even fiercer nowadays for retailers to keep their customers and gain new ones customer service, delivery options and store locations add another dimension and opportunity to retail operations. 

Consumers are buying in varied ways be they on-line, through franchises, concessions, pop-up stores and e-tailing sites all of which can be managed using our core solution with options for click and collect in stores.

The store as 'mission control center' for data 

We also recognise that bricks and mortar formats are very much part of a brand’s equity and facilitating that requirement is very different.  Our in-store solution provides real-time data on stores, distribution centers, and head-office.  It allows for the store teams to perform key day-to-day store operations like receiving stock or even stocktaking activities online using mobile apps, as well as on traditional desktop devices if preferred. Additionally being able to move stock between branches or send it back to the warehouse for re-merchandising are all possible options including printing of adhoc tickets as when required. With full real-time visibility of multiple in-store and warehouse inventory as well as knowing when you will be receiving your next delivery you are able to commit to your customer’s expectations and service them better in an omnichannel or store environment.

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Happy customers emerge from the whole business value chain

Addressing the competitive fashion marketplace and supporting day-to-day business operations while keeping your consumers happy requires inputs from the whole business value chain from marketing through to supply chain execution and customer engagement services.

Marketing in the field of tension

Consumers are offered so much choice with the combination of new innovative store environments and great products, that ensuring your retail and marketing strategy is working, can be difficult.  For merchandisers and marketing the balancing act of stock safeguarding and customer experience really comes to the fore. Imagine if you could keep stock for your important customers and product launches to stores without denying new customers or consumers theirs. With our solution, stock protection addresses the preservation of stock for key customers.  

Intelligent technologies to increase effiency 

By using machine learning and predictive analytics you are able to identify more customers be they in-store, online or on mobile devices , which gives you the ability to target those consumers more efficiently via emails or social media campaigns.  Providing omnichannel personalised interactions and offers will ensure customer loyalty and ultimately drive sales.  

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The facettes of sustainability in the fashion industry

There are many ways to implement recycling and re-use in the fashion industry.  Some examples include taking back and reselling items that consumers do not want anymore, hiring or renting clothing and creating subscription models which in turn would enable consumers to swap clothes too. Other initiatives also include recycling ‘old’ products and by default creating ‘new’ products or even repairing items. 

Fasten up the sustainability swift with collaboration & intelligent technologies

But to put those processes into practice your design, marketing and after-sales teams have to collaborate. Designers have to sift through multiple designs to analyse lots of information to suggest which style options best fit the circular economy.  Likewise they must consider raw materials while marketing and after-sales must consider consumer preferences.  By empowering your business with these insights and taking advantage of predictive analytics while still operating best practice business processes, unbiased decisions can be made faster leading to regenerated sustainable products being with your consumers in a shorter timescale.

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Istant decision making based on real-time data 

As a Financial Controller it is imperative to have full visibility and transparency of your integrated business processes.  Running real-time reports on both operational and financial data provides your business with reliable cash flow information.  There is no need to wait for the end of day or month to instantly access your data to start planning or even decision making. 

Financial controlling in a click 

With ease credit control teams can send out reminders when they notice a payment is overdue, purely from their daily business performance dashboard.  With just one click you are able to drill deeper and take action immediately.  Likewise it is just as easy to manage issues by exception.  Gone are the days of  scanning lots of data looking for any irregularities, now users can immediately spot any exceptions in their home dashboard.  The exceptions are highlighted, so you know what you need to work on as a priority. This approach to working saves finance teams a lot of time allowing them to dedicate more time to value-added tasks instead.

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