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Retail

Retail nirvana – leverage accurate forecasts to maximize profits and reduce costs

In the retail industry the average accuracy of inventory is only 63%.

How accurate is your inventory?

Keeping store shelves consistently stocked is the foremost challenge in any retail enterprise. There are many variables that go into determining the right demand at the stores – including demography, seasonality, holiday peaks and product life-cycles. The impact of this is far from trivial on the top line and bottom line and has a significant impact on customer retention. About 21% to 41% of the customers faced with stock out move to a different store to make an alternative purchase. Also, 72% of stock outs occur due to flawed planning and replenishment methodologies as opposed to bottlenecks in the supply chain.

However there is a cost to carrying inventory as well. The solution is to find the balance between overstocking and letting your inventory run out too quickly.

BluePi works with retailers in providing retail optimization solutions that are tailor-made keeping their specific supply chain nuances. Whether you are a multi-format retail chain, apparels or a grocery store our AI/ML driven solutions will add to your bottom-line and top line while at the same time improving customer satisfaction.

Demand Planning

When it comes to demand planning Data trumps Instinct. Armed with AI driven sales forecasts retailers can make demand planning accurate and impactful.

Replenishment

A vital part of meeting demand is the process of stock replenishment. A modern data science driven approach to replenishment helps firms by determining what to reorder and how much to reorder.

Markdown optimisation

Historical analysis of markdowns can help you determine when to reduce prices and by how much. As promotions impact both brand image and profitability a data driven approach will help achieving higher rate of sales for declining products.

Inventory Rebalancing

Avoiding reorders by redistributing stock between retail outlets to move inventory from a low selling location to higher selling one can lead to low stock holding and stock outs.

Product Availability Insights

Having a view of product availability at different store locations and a clear view of stock covers can help business leaders make informed decision making.

POS Analytics

Get rid of overage and redundant stock while optimising shelf space for fast selling products thereby increasing your return per square foot of retail space.

OUR PEOPLE

Anjna Bhati Head-Data Analytics & AI
Mayank Ahluwalia Head-Sales

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