An omni-channel strategy in fashion retailing makes transparency and efficiency in the flow of merchandise more crucial and the increases the necessity for better coordination among the various channels and the stores. Textile retailers are facing the need to react quickly in terms of merchandise and product range management in order to be able to more rapidly fulfil customer wishes.
Good management has to match pace with the end customer, who expresses his or her shopping preferences via various distribution channels, is more persuaded by advertising campaigns in specific stores, buys some articles more than others, and sometimes appears to be loyal…and sometimes not. In overseeing a network of 500 or more stores, the top management, controllers and regional decision-makers can leave nothing to chance.
Active store management delivers more than just increase sales and greater customer loyalty. It can also prevent the closing of individual stores.
Until revenues from previous months are reviewed, evaluated and visualised graphically for presenting the data to the management, it may be already too late.
For logistics, stock transfers between the stores and sales, decision-makers have to immediately have the ability get access to real-time sales data which they can then use as a foundation for making good decisions. Using historical information based on financial data is not the smart way to make profitable decisions.
Only real-time data offers a true picture of which stores are going to make their targets and which are not going to get there. Only real-time data can quickly provide the options for making the right move.
The aim is to bring the merchandise to where it sells best. This necessitates information on revenue per article on item-level (e.g. a blue T-shirt in size 10) as well as the current age structure of the inventory per store or department.
If e.g. more T-shirts in a big size are sold in a particular store, then clearly this size has to be kept in stock in greater numbers. At the same time, the store stockroom can be freed of articles in smaller sizes. Expensive minimal inventory levels can thus be decreased.
With Detego InReports you get a real-time notification tool that shows actual article availability in real-time as well as the restocking situation and the aging structure of the articles. The software interprets customer cluster data, e.g. sizes and colours per geographical region. Gained information from complex algorithms is transformed into attractive dashboards that provide decision-makers with easy-to-use recommendations for actions to take.
The analysis is visually formatted using a traffic light system. Thanks to its analytic notifications, Detego InReports thus provides you with an efficient instrument for long-term oversight and planning.
Merchandise planning systems are coordinated with the daily demands of the sales floor. Product availability is kept in sync with customer wishes. The additional benefit stems from the analysis of real-time data in combination with recommendations for the best action to take.
Detego InReports works with Detego InStore, the system for article transparency in the store, and Detego InWarehouse, the system for article transparency in the warehouse, but it can also be used together with third party in-store management software.
Regional sales managers, top management, controllers and merchandise planners profit from Detego InReports
Dr. Michael Goller, CTO Detego
Contact us to arrange an individual appointment with one of our experts to gain new insights or request a product demo to learn more about the Detego Suite and how it can benefit your business.
We would be happy to assist you meeting todays and future retail challenges.