ToolsGroup

OCTOBER 17, 2024

Are you making the fatal mistake of underestimating the importance of inventory rebalancing? Many retailers treat inventory management as a mundane task rather than a strategic lever for success. It’s about strategically adjusting your inventory levels across locations and products in response to real-time customer demand.

Inventory Reduction 156

Inventory Reduction Cost Reduction Strategies Expense Reduction Resource Reduction 156

ToolsGroup

JUNE 6, 2024

In the bustling world of retail, promotions are often the heartbeat of market strategy, vital for drawing in customers, boosting sales and elevating brand presence. Now, in this latest chapter, we turn our attention to a critical yet often overlooked aspect of retail promotions: setting, and targeting, the right goals.

Price Reduction 177

Price Reduction Inventory Reduction Retail Procurement Solutions 177

Logistics Viewpoints

JANUARY 1, 2024

This meant that retailers were not maximizing their profitability. Historically, an OOM has access to all the company’s inventory. The system allocated which orders would get inventory from a given location to fulfill an order. Historically, omnichannel software solutions were not capable of optimization. That is changing.

Omnichannel 235

Omnichannel Modeling Optimization Software Optimization Modeling 235

ToolsGroup

NOVEMBER 13, 2024

The retail industry continues to evolve at an unprecedented pace, and as we approach 2025, several key trends are defining the future of retail. Driven by advancements in AI, shifts in consumer expectations, and an emphasis on sustainability, retailers are finding new ways to engage customers and build resilience.

Waste Reduction 156

Waste Reduction Inventory Reduction Resource Reduction Supply Chain Design Software 156

ToolsGroup

SEPTEMBER 4, 2024

In the fast-paced world of retail, every decision counts—especially those related to inventory management. Yet, many retailers underestimate the true cost of doing it poorly. Stockouts are one of the most direct and visible consequences of poor inventory management. The global retail industry loses an estimated $1.75

Inventory Management Software 156

Inventory Management Software Inventory Reduction Cost Reduction Strategies Inventory Management 156

ToolsGroup

JANUARY 30, 2024

Optimize inventory productivity across all channels with JustEnough v2023.4 Wholesale channels are no longer a backup channel for retailers. Smart retailers are planning their wholesale channels just as strategically as they leverage storefronts and e-commerce. In ToolsGroup’s latest JustEnough release, JE v2023.4,

Supply Chain Planning Software 156

Supply Chain Planning Software Supply Chain Planning Scenario Planning Retail 156

ToolsGroup

NOVEMBER 12, 2024

ToolsGroup was named the leader in the 2024 SPARK Matrix™for Retail Forecasting and Replenishment for its ability to optimize demand forecasting and deliver more strategic pre- and in-season replenishment and allocation strategies in complex retail environments.

ToolsGroup 156

ToolsGroup Supply Chain Design Software Supply Chain Planning Software Supply Chain Software 156

ToolsGroup

OCTOBER 14, 2024

In the competitive industrial landscape, efficient spare parts inventory management is crucial to maintaining seamless operations and driving profitability. Organizations require robust inventory management systems capable of handling diverse parts throughout their lifecycle.

Inventory Reduction 156

Inventory Reduction Negotiating Skills Optimal Sourcing Cost Reduction Strategies 156

Logistics Viewpoints

SEPTEMBER 2, 2024

FabFitFun Warehouse in Chino, CA FabFitFun is an interesting retailer with a complex supply chain. They have been successful enough with their fulfillment capabilities that they are no longer just a direct-to-consumer retailer; they are also a third-party logistics provider. Why did this subscription retailer select Körber?

Logistics Network Optimization Software 216

Logistics Network Optimization Software Retail Material Savings Logistics 216

ToolsGroup

SEPTEMBER 29, 2022

Improving inventory position can help retailers secure consumer loyalty and capture impulse spending. consumers on their loyalty to and trust of retailers, as well as their reasons for choosing online or in-store shopping. The survey report: How Retailers Win Customer Loyalty in an Omnichannel World tracks the change in U.S.

ToolsGroup 156

ToolsGroup Optimal Sourcing Study Groups 156

ThroughPut

JUNE 29, 2024

As a retail inventory planner, you strive to deliver precise replenishment plans—ensuring the right quantity of stock is available at the right time and place. Yet, managing inventory through multiple spreadsheets linked by complex formulas, or using disparate point solutions that don’t integrate, complicates your task.

Inventory Reduction 52

Inventory Reduction Inventory Management Software Supply Chain Planning Software Optimization Software 52

Enterra Insights

AUGUST 27, 2024

From the consumer’s standpoint, the retail sector looks a bit messy right now. McKinsey & Company analysts note, “It now sounds like a cliché, but that doesn’t make it any less true: the retail sector has experienced as much disruption in the past [few] years as it has in the previous 25. Retail therapy, we called it.

Supply Chain Planning Software 130

Supply Chain Planning Software Optimization Software Retail Forecasting Software 130

ToolsGroup

AUGUST 1, 2022

Retail returns occur when a customer returns the purchased items to a seller in exchange for a refund, store credit, or a similar product. Returns come with plenty of challenges around logistics, inventory, and predicting volatile sales trends. Retail Returns Statistics Demonstrating the Path to Business Growth.

Retail 296

Retail Optimal Sourcing Purchasing Skills Procurement Solutions 296

ToolsGroup

SEPTEMBER 30, 2024

This shift has led to a growing need for agile inventory management and quick delivery systems. The Challenges of Inventory Management in the Aftermarket Managing inventory in the aftermarket is uniquely challenging.

Manufacturing Procurement 156

Manufacturing Procurement Optimization Software Supply Chain Planning Software ToolsGroup 156

ToolsGroup

MARCH 24, 2021

Now consider that by not optimizing your inventory from a global vantage point you may be creating, if not outright chaos, a much less efficient network than you could have. When it comes to inventory management, each piece must operate as a part of a global integrated system to be most effective.

Modeling 270

Modeling Optimization Software Inventory Reduction Network Optimization 270

ToolsGroup

APRIL 24, 2024

This solution allows retailers to maximize the sales lift created by promotions while minimizing margin sacrificed to do so. With the PromoAI solution, retailers can instantly simulate the impact of multiple promotional strategies at once to choose the best outcome for their business priorities. Read more HERE.

ToolsGroup 156

ToolsGroup Optimization Software Price Mitigation Strategies Supply Chain Optimization 156

ToolsGroup

APRIL 26, 2023

It also fully integrates JustEnough with the Inventory Hub® Dynamic Data Unification Platform. These product enhancements link perpetual inventory signals to critical merchandise planning modules. These product enhancements link perpetual inventory signals to critical merchandise planning modules. Version 2023.1 Version 2023.1

Supply Chain Planning Software 156

Supply Chain Planning Software ToolsGroup Supply Chain Design Software Forecasting Software 156

ToolsGroup

SEPTEMBER 26, 2023

It can ingest massive amounts of internal and external data and process it within the unique algorithmic engine to deliver easy-to-apply recommendations on how to optimize inventory levels, streamline supply chains, and maximize revenues. Retailers have long used business analytics to inform decision-making. How Does EvoAI work?

Prescriptive Analytics Software 296

Prescriptive Analytics Software ToolsGroup Supply Chain Planning Software Analytics Software 296

ToolsGroup

JULY 13, 2023

A significant addition to our Inventory Hub® product, Dynamic Fulfillment leverages advanced optimization logic to determine what to ship, from where, in real-time, to reduce shipping costs, improve margins, and satisfy empowered customers. As an example, let’s say you’re trying to fulfill a pallet order of heavy items in Boston, MA.

Optimal Sourcing 291

Optimal Sourcing ToolsGroup Optimization Software Network Optimization 291

Logistics Viewpoints

NOVEMBER 20, 2023

As ecommerce grew at double digit rates, while in store sales grew at less than the rate of inflation, retailers were looking for a way to turn their stores into a competitive weapon. These new order fulfillment paths allowed retailers to rapidly grow sales. First, the rules used to enable an OOM system can be staggeringly complex.

Omnichannel 251

Omnichannel Retail Cost Reduction Strategies Expense Reduction 251

Logistics Viewpoints

DECEMBER 14, 2022

This article is from Zheyuan Du at Kinaxis and discusses unconventional solutions to excess inventory challenges. As a result, inventory managers have to explore new ways to cope with full warehouses. Unconventional solutions to excess inventory challenges. The answer goes beyond standard inventory management.

Inventory Management Software 211

Inventory Management Software Inventory Management Inventory Reduction Inventory 211

ToolsGroup

FEBRUARY 28, 2024

That’s why Evo CEO Fabrizio Fantini jumped at the chance to work with Harvard Business School Professor Sunil Gupta to participate in a case on Miroglio’s huge success increasing profits through in-season inventory optimization. But fashion is inherently hard to predict. Read the case on Harvard Business School website Read here →

Network Optimization 156

Network Optimization Supply Chain Optimization Inventory Price Mitigation Strategies 156

Logistics Viewpoints

JUNE 8, 2021

The gig economy and its on-demand armies of drivers have moved people and food for years, but many retailers still hesitate to tap into Uber, Postmates and other companies to quickly move orders from stores to local customers’ doorsteps. Gig economy fulfillment setting retailers apart. Business intelligence lights the path for others.

Supply Chain Network Software 295

Supply Chain Network Software Supply Chain Planning Software Retail Logistics Network Optimization Software 295

ToolsGroup

MARCH 1, 2018

Many retailers consider competing against Amazon their biggest challenge. While the impact of Amazon is real, it is only a thread in the larger retail competition tapestry. Amazon offers breadth, but brick and mortars offers “now”, and a tactile consumer shopping experience is still a retailer’s greatest asset.

Inventory Reduction 189

Inventory Reduction Retail Inventory Supply Chain Planning Software 189

ToolsGroup

MARCH 30, 2022

It’s no simple task providing customers access to the full range of capsules and coffee machines on all sales channels, across more than 70 boutiques in Italy, while optimizing inventory levels. ToolsGroup has allowed us to significantly increase end-to-end control of the replenishment process of our retail network.

Supply Chain Planning Software 317

Supply Chain Planning Software Optimization Software Modeling Supply Chain Optimization 317

BlueYonder

DECEMBER 8, 2023

For retailers trying to align inventory with demand this 2023 holiday season, it’ll be like catching falling apples from an uprooted tree in full flight. Despite all the complexity in predicting the season, there are clear clues for how to tactically leverage inventory placement. It needn’t be too much of a juggling act.

Retail 86

Retail Supply and Demand Inventory Demand Planning Software 86

ToolsGroup

MAY 30, 2024

Promotions are, without a doubt, a vital tool in the retail arsenal. Over the last few weeks, we’ve explored the problems retailers face with promotions, examining diminishing returns in a promo-saturated market , misaligned pricing and discounting strategies and confusing markdown problems and promo problems.

Inventory Reduction 156

Inventory Reduction Waste Reduction Price Reduction Price Mitigation Strategies 156

ToolsGroup

MAY 23, 2024

As a customer, you might score some great deals, but as a retailer, this signals a missed opportunity and a hit to the bottom line. This is the tale of many retailers who confuse a promo problem with a markdown problem, and it’s costing them more than just profits. Retail promotions, on the other hand, are used in-season.

Price Reduction 156

Price Reduction Inventory Reduction Cost Reduction Strategies Retail 156

Enterra Insights

JUNE 22, 2022

The irony of excess inventory. ”[2] It’s ironic, therefore, in this inflationary period, that many retailers are experiencing the exact opposite problem — too few consumers seeking items they already have on hand. Now, some retailers are struggling with the opposite problem: a deluge of stuff nobody wants to buy.”

Inventory Reduction 130

Inventory Reduction Inventory Prescriptive Analytics Software Inventory Management Software 130

IT Supply Chain

JUNE 26, 2024

By Chris Timmer (pictured) CEO, Linnworks The post Why an OMS is the Heart of Inventory Management in a Retail Operation appeared first on IT Supply Chain.

Inventory Management 80

Inventory Management Inventory Retail Supply Chain 80

ThroughPut

JUNE 16, 2024

Retailers often need help with inefficiencies, stockouts, and overstocking due to a lack of real-time data and insights into their inventory processes. Many retailers need to know how to leverage AI to address these challenges. What are the Challenges of Inventory Delivery Management in Retail?

Supply Chain Planning Software 52

Supply Chain Planning Software Inventory Reduction Optimal Sourcing Supply Chain Software 52

Logistics Viewpoints

APRIL 4, 2024

During summer days, I didn’t mind doing inventory checks in the fridge and freezer because it meant I got to cool down. Another example of data normalization is accounting for lost sales due to stockouts or waste of perishable products due to overstocking of inventory.

Supply and Demand 254

Supply and Demand Modeling Demand Planning Scenario Planning 254

ThroughPut

SEPTEMBER 8, 2024

Summary of the Impact A popular European coffee retail chain used ThroughPut AI’s product mix optimization capabilities to achieve: 15% inventory reduction 5% labor productivity gain Read the entire case study here. They want fresh, innovative, artful food and an unparalleled experience, and they want it all now.

Optimal Sourcing 52

Optimal Sourcing Inventory Reduction Waste Reduction Resource Reduction 52

BlueYonder

DECEMBER 11, 2023

Inventory control represents a huge challenge for any retailer. In fact, inaccurate inventory is the single biggest cause of poor customer experience, according to a new survey by Blue Yonder. Canada’s largest tech retailer got ahead of these problems. How did the company overcome its inventory issues? The payoff?

Inventory Reduction 78

Inventory Reduction Sourcing Strategies Cost Reduction Strategies Retail 78

Logistics Viewpoints

AUGUST 9, 2022

Some of the world’s biggest retailers and their partners are once again feeling the sting of “ the bullwhip effect ” – a term of art amongst supply chain professionals that describes how changes in demand at the retail level can reverberate and amplify issues throughout the supply chain. Complete visibility into inventory.

Inventory Management Software 238

Inventory Management Software Inventory Management Inventory Reduction Supply Chain Planning Software 238

Enterra Insights

AUGUST 15, 2023

The past few years of turmoil in the retail sector have challenged many professionals. The so-called “retail apocalypse” was deepened by the pandemic, then came inventory overload and inflation. ” Many retailers have turned to artificial intelligence (AI) to address their fears and lessen their worries.

Supply Chain Planning Software 130

Supply Chain Planning Software Supply Chain Software Optimal Sourcing Supply Chain Optimization 130

Enterra Insights

JUNE 21, 2022

Inflation is starting to impact the retail sector in significant ways. Some experts believe artificial intelligence (AI) capabilities will help retailers find their way through these volatile times. ”[1] According to Kestenbaum, some retailers don’t understand AI’s importance to their success.

Retail 182

Retail Supply Chain Design Software Analytics Software Predictive Analytics Software 182