How To Gain Needed Insight In Retail Merchandising
Merchandising is one of the most important factors for success in the highly competitive world of retail. After all, the merchandise is what the customer is coming to buy, whether they come to a store or a website. But having the products customers want, when they want them, means that purchasing, allocation, and replenishment of those products has to be effective. Get merchandising software free live demo to see how you can scale-up your retail chain. Fortunately, Merchandising software is designed to keep retailers competitive by providing both insight and and action in key areas:
- Real-time information from every channel
- Lifecycle management through product performance analysis, and reporting
- “Intelligent” size & SKU analysis
- Ability to designate specific size runs for different regions
- Ability to maintain multiple vendors per product
- Innovative price management tools
- Automated allocation and replenishment by min,max, min&max, sales and weeks of stock
- Detailed purchase order analysis and reporting, including back order management
- Buy in bulk, pre-packs or kits
- Reduced holding and operational costs
- Optimize markdowns & gain greater control over premature markdowns with inventory level alerts
- Inventory flow management with pre-season and in-season ordering, replenishment, and allocation
- User-definable, formula-based landed cost functionality
Insight Leads To Action
Each action taken by a retail management team is born in the insights provided by the collection and analysis of data. If the data is not collected, it is useless. If the data is collected, but not accessible for analysis, it is equally useless. If the wrong data is analyzed, mistakes are made in management because the insights that led to action were not trustworthy.
Professional retail management software for merchandising works best when it is integrated into a complete system that acts cohesively from end-to-end and across every channel. This allows all the data from across the spectrum of the retail business to be collected, accessed as appropriate, and analyzed. Ideally, there are tools for reporting and predicting as well, so the insights are accurate. Finally, the best software solutions provide the ability to take action on those insights effectively. Request a merchandising software free online demo to get more retail insights on your merchandising.
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[…] secret to a merchandising mix that will sell lies in the process of knowing your customers and your vendors well. […]