Planning Solutions
Inventory Planning
Inventory planning in retail optimizes stock to meet customer demand while minimizing costs and maximizing profits. It involves smart decisions on quantity, timing, and storage, crucial for product availability and cost management.
Inventory Planning
Bluesky’s inventory planning solution starts with a scientifically calculated demand forecast which is integrated out-of-the-box and requires no data science nor statistical expertise from retailer’s teams. The forecast takes into account future promotions and the corresponding sales lift.
Based on the forecasted demands, replenishment parameters and KPIs are configured based on each retailer’s business requirements, including replenishment method (min/max, safety stock etc.), pack size, delivery schedule and so on. The solution then automatically calculates the optimized order quantity and timing to ensure the satisfaction of future sales with the right stock level. As a result, higher sell-through is achieved with less frequent markdowns. Revenue, margin and return on investment are all improved across the enterprise. The solution is subscription-based, no commitment required. It provides retailers with improved security and proactivity. Order recommendations are generated on a weekly basis and can feed into any merchandising/order management systems as needed.
Problems Solved
- Failure to meet revenue and margin targets
- Low level of sell-through, despite frequent promotions
- Lack of visibility on future demands and pricing effects on inventory level
Relevant Roles
- Inventory planners
- Buyers