A key trend in internet retailing is harnessing the massive new amount of data available for better decisions and improving the customer experience, and a key area of this is using data and machine learning to improve supply chain planning, demand forecasting and inventory optimisation. Increased competition and players such as Amazon have also raised customer expectations for higher service levels, faster delivery and availability of an extensive array of products, making supply chain optimisation no longer optional, but essential to compete.
An important aspect of online retailing is having an extensive product catalog and being able to fulfill and satisfy orders for a large number of “long tail” products which are often slow moving and have different demand patterns. This requires a sophisticated supply chain planning solution that takes into account many different demand signals.
Our internet retailing supply chain planning solutions help reduce the planning workload and achieve improved KPIs by optimising supply chain planning with automated forecasting, inventory optimisation and predictive replenishment. Accurately forecasting product availability allows internet retailers to maximise sales and margin and minimize stockouts and overstocks and the need for clearances.
We achieve improved forecast accuracy for even the most complex supply chains and diverse “long tail” products with automated forecasting at the SKU-level, taking into account demand patterns, seasonal factors, market trends, new product launches and other factors which affect the volatility of demand. We can even optimise promotions and social media events for demand shaping, and our insights such as customer segmentation clustering help identify the most effective promotions and maximise ROI.
Read some of our leading internet retailing case studies, including how leading online retailer Wayfair improved forecasting accuracy with their extensive and complex product catalog (read the Wayfair supply chain case study here).
Brookes Retail, the official UK distributor of ToolsGroup SO99+ supply chain software, brings together the best supply chain people, processes and technology to create sophisticated, highly automated demand-driven solutions which deliver measurable and sustainable business value to our customers.
We offer market leading consultancy, software and managed services for inventory optimisation, demand forecasting and product replenishment planning.
We understand the challenges enterprises face in a digital economy with high customer service and investor performance expectations.