Retalon

FEBRUARY 15, 2022

Demand forecasting at store/SKU levels leads to better allocation of inventory across the entire business from the start. Price elasticity of demand, meaning the effect that a set price will have on demand, is an important consideration when setting prices, running promotions, or markdowns. Let’s take a look at what those are.

Markdowns 41

Markdowns Inventory Turnover Fulfillment Accounting 41

Retalon

NOVEMBER 11, 2021

In addition, retail giants like Amazon have conditioned today’s consumers to want simple and efficient order fulfillment options, fast delivery and a wide range of product options. Advanced analytics tools can pinpoint demand for a specific SKU at a specific location or channel. Why invest in fulfillment technology?

Fulfillment 41

Fulfillment Markdowns Promotions Shipping 41

Retalon

APRIL 27, 2021

It can analyze billions of data points and predict demand at a level of granularity that’s simply impossible to reach using Excel. However, traditional spreadsheet analytics cannot account for store-by-store variations in the promotion’s effectiveness or secondary effects such as demand cannibalization.

Fulfillment 41

Fulfillment Markdowns Promotions Returns 41

Retalon

NOVEMBER 20, 2020

Before we go any further it is important to make a clear distinction between price management and price optimization : Price optimization is the process of identifying the optimal price point for any given product at any given location that will yield the highest profit. You cannot optimize prices without managing them, however.

Management 41

Management Markdowns Accounting Retailing Pricing 41

Retalon

JANUARY 6, 2021

In reality, replenishment planning is a fairly complicated process that has to account for many variables, including logistics routes, timelines, availability, and cost. The purpose of replenishment is to ensure that a retailer has the right quantity of product, at the right location, at the right time to maximize sales and minimize costs.

Planning 41

Planning Markdowns Accounting Shipping 41

Retalon

MARCH 2, 2021

Destination resorts that run gift shops must account for occupation rates in their hotels as well as weather. . What fulfillment methods are you offering? What sizes should you offer for each product at each location? For instance, . What are your customer profiles? What channels do you promote through? Do you run promotions?

Fashion 41

Fashion Markdowns Promotions Accounting 41

Retalon

FEBRUARY 25, 2022

Whether losing sales to out-of-stocks, or facing overstocking costs and markdowns, inefficient stock replenishment has a huge impact on a retailer’s GMROI. Replenishment seeks to ensure that the right product is on the shelves at the right time for the consumers to maximize sales & minimize costs. What is replenishment time?

Inventory Management 47

Inventory Management Fulfillment Markdowns Location 47

RETAIL MANAGEMENT SOFTWARE

MARCH 11, 2022

Use and analyze the past seasonal orders to determine how to price products- By using the data, look at previous seasons to guide your pricing decisions. Instead of simply repeating the same quantities, look at which products were the best and worst sellers and order accordingly.

Inventory Management 92

Inventory Management Management Inventory Turnover Drop-Shipping 92

Retalon

FEBRUARY 10, 2022

So, a retailer who wants to gain the competitive edge while avoiding undue losses, needs to be able to spot the indicators of bad inventory and know how to fix them at the root. Identifying bad inventory can mean the difference between bringing in profits or losses at the end of the year. Drastic Markdowns.

Inventory Turnover 41

Inventory Turnover Management Inventory Management Dead-Stock 41

Retalon

APRIL 14, 2021

Developing a solid product assortment strategy at the beginning optimizes revenue and profit while minimizing the risk. Other opportunities by which store clusters can be created may include looking at store behaviour in terms of sales, trends, climate, seasonality, or culture-specific demographics.

Markdowns 41

Markdowns Planning Location Accounting 41

Retalon

SEPTEMBER 22, 2021

A retail fulfillment process that is known as BOPIS — Buy Online, Pickup In-Store. During the pandemic, BOPIS retail fulfillment options kept businesses running while limiting person-to-person contact – which was essential during the pandemic. What is BOPIS? BORIS (Buy Online Return In-Store): Concentrates on reverse logistics.

Fulfillment 41

Fulfillment Payment Services Inventory Management Shipping 41

Retalon

JANUARY 5, 2021

So it’s no surprise that retailers are beginning to take a serious look at their mid-season inventory balancing practices. Most of today’s inventory management issues start at the level of forecasting. Some stores will be overrun with inventory, while others will struggle to keep up with demand.

Location 41

Location Inventory Management Markdowns Fulfillment 41

Retail Minded

FEBRUARY 24, 2022

As ecommerce continues to boom, it has reinforced the need for retail brands to strengthen their online fulfilment and shorten click-to-customer cycle times. That worked great when you knew the demand to fulfil ahead of time. Fulfilment processes in the warehouse need to be flexible. The root of the matter remains simple.

Fulfillment 111

Fulfillment Markdowns Specialty Retailers Consumer 111

Retalon

AUGUST 2, 2019

Businesses collect more data than ever before and from every aspect of the supply and demand chain—logistics; vendor compliancy/lead times; POS data; inventory levels; traffic cameras; prices; markdowns; consumer behavior; demand forecasts; and more. At best, they give you a dashboard of conditions right now.

Merchant Services 39

Merchant Services Fulfillment Accounting Markdowns 39

Retalon

AUGUST 16, 2019

How can you juggle concerns like forecasting, inventory management, distribution, fulfillment, and more against the growing demand for personalization, all while continuing to create the consistent experience customers expect? From a Customer side, nobody likes being bombarded by ads & products they don’t want or need.

Customer Experience 32

Customer Experience Fulfillment Markdowns Consumer 32

Retalon

JUNE 29, 2013

Every retailer wishes to have the right product at the right place at the right time. Once inventory begins to run low at a specific store, it is replenished from the DC. For Example: When products don’t sell well at specific stores, retailers are forced to markdown inventory in order to clear the inventory.

Inventory Management 32

Inventory Management Management Markdowns Fulfillment 32

Retalon

AUGUST 16, 2019

So, how can you juggle concerns like forecasting, inventory management, distribution, fulfillment, and more against the growing demand for personalization, all while continuing to create the consistent experience customers expect ? From a Customer side, nobody likes being bombarded by ads & products they don’t want or need.

Fulfillment 32

Fulfillment Customer Experience Markdowns Consumer 32

Retalon

SEPTEMBER 1, 2020

The traditional approaches to estimating demand only hint at how a particular product will perform. Fixing the problem through stock rebalancing or price markdowns will be expensive. Retailers need to also account for new products impacting the sales of other SKUs through product demand cannibalization.

Promotions 41

Promotions Markdowns Inventory Management Accounting 41

Retalon

AUGUST 2, 2019

Prices (markdowns, promotions, competitor prices, etc.). At best, they give you a dashboard of conditions right now. Consider the way retailers traditionally forecast fulfillment. Add in a final fly-by-your-gut manual tweak and the fulfillment forecast would be ready. POS data (sales, returns, etc.). Demand forecasts.

Merchant Services 32

Merchant Services Fulfillment Accounting Markdowns 32

Retalon

SEPTEMBER 11, 2020

In order to understand how to take full advantage of this new technology, we will first explain what demand forecasting actually is, the most common methods of demand forecasting in retail, key constraints that need to be accounted for, and modern examples of accurate demand forecasting. What is Demand Forecasting?

Payment Services 41

Payment Services Promotions Accounting Fulfillment 41

Retalon

SEPTEMBER 13, 2015

All costs associated with the transfer — from logistics and store capacity to demographic diversity and the sizes and colors most likely to sell at the specific location — are incorporated automatically. But for most retailers, the restocking process doesn’t begin until inventory starts to run low at a specific store. In-Stock Percent.

Markdowns 32

Markdowns Promotions Customer Experience Fulfillment 32

Retalon

SEPTEMBER 13, 2015

All costs associated with the transfer — from logistics and store capacity to demographic diversity and the sizes and colors most likely to sell at the specific location — are incorporated automatically. But for most retailers, the restocking process doesn’t begin until inventory starts to run low at a specific store. In-Stock Percent.

Markdowns 32

Markdowns Promotions Customer Experience Fulfillment 32

Retalon

SEPTEMBER 13, 2015

All costs associated with the transfer — from logistics and store capacity to demographic diversity and the sizes and colors most likely to sell at the specific location — are incorporated automatically. But for most retailers, the restocking process doesn’t begin until inventory starts to run low at a specific store. In-Stock Percent.

Markdowns 32

Markdowns Promotions Customer Experience Fulfillment 32

Retalon

MARCH 4, 2019

Retail is changing faster than ever, and keeping up fulfilment needs, competitive pricing, and trendy assortment is costly. Traditional inventory management is fragmented silo work that doesn’t take other processes into account. How retailers are optimizing and automating their business with Predictive Analytics.

Inventory Management 32

Inventory Management Markdowns Planning Fulfillment 32

Retalon

DECEMBER 22, 2014

Retalon is known for Smart Fulfillment. Smart Fulfillment is a small, but important part of it, and I will address it in the next question. Regarding omni-channel fulfillment, how does predictive analytics help retailers take action on the data and deliver better results? There are several important trends at play: 1.

Dead-Stock 32

Dead-Stock Promotions Fulfillment Markdowns 32

Retalon

DECEMBER 22, 2014

Retalon is known for Smart Fulfillment. Smart Fulfillment is a small, but important part of it, and I will address it in the next question. Regarding omni-channel fulfillment, how does predictive analytics help retailers take action on the data and deliver better results? There are several important trends at play: 1.

Dead-Stock 32

Dead-Stock Promotions Fulfillment Markdowns 32

Retalon

JULY 4, 2018

Based on the amount of retailers that have been forced to shut their doors in the last three years, there is a major shift that is moving through the retail industry at full force. So what’s the real challenge at hand? Ultimately many retailers will often compete on the fulfillment strategy.

Promotions 32

Promotions Fulfillment Shipping Markdowns 32

Retalon

SEPTEMBER 11, 2020

Often resulting in inventory distortion that lead to lost sales and costly markdowns. These retailers are therefore unable to account the demand uplift resulting from the promotion. Let’s take a look at each of these in a little bit more detail. Often minimizing markdowns in the process.

Fashion 41

Fashion Markdowns Promotions Accounting 41

Retalon

NOVEMBER 2, 2021

To better understand why sustainable supply chains are so important, let’s take a quick look at how the retail and CPG industries have shifted in the past 2 decades. If they overstocked every SKU at every distribution center, they would simply go out of business. What is supply chain sustainability? More on that later.

Supply Chain Management 41

Supply Chain Management Dead-Stock Markdowns Shipping 41

Retalon

SEPTEMBER 3, 2020

Afterall, retailers invest in merchandise hoping to sell it at a profit. It is a measurement of the cost of purchasing, transporting, and holding inventory, plus the cost associated with fulfilling customer orders for that inventory — compared to the gross margin you receive from selling that same inventory.

Returns 41

Returns Accounting Fulfillment Markdowns 41

Retalon

OCTOBER 18, 2013

It’s been almost a joke what has happened in retail business for years where retailers will declare a promotion or announce a markdown, 20 percent off, and the stores will not have any additional inventory to support it. Another company in fashion that specifically plans to have terminal stock at the end of the season.

Markdowns 32

Markdowns Promotions Planning Accounting 32