Base Merchandising Decisions On Accurate Analysis
The decisions made by your merchandising team affect what happens throughout the enterprise. That’s why it is important that these decisions are made by using accurate, real-time information that is comprehensive. Without the proper data, analysis cannot be accurate because it is being based on insufficient information. ChainDrive has been designed to automatically collect data as it is generated and store it in a secure, centralized location so that authorized users are able to access and analyze the facts. This results in optimized assortments along with many other profitable decisions.
Start With All The Facts In Real Time
Unless your facts are complete and accurate, your analysis lacks the specific details that enable precise management decisions. Factors like stock-outs can cause skewed results, for instance. The ability to capture size or SKU performance throughout the life of a product and isolate instances of stock-by-size gives an accurate view of true size performance. ChainDrive provides the capacity to work with accurate details so historic and real-time comparisons are true representations of what is happening.
Springboard To Successful Merchandising
Starting with accurate data, ChainDrive enables successful management decisions:
- Lifecycle management
- Product performance analysis & reporting
- Size & SKU analysis
- Multiple size runs for different regions
- Multiple vendor management per product
- Price management tools
- Automated allocation & replenishment by user-defined parameters
- Purchase order analysis & reporting
- Markdown management
- Inventory flow management
- Accurate landed cost calculation
These processes and more are essential to successful merchandising. Each one relies on accurate data in order to be effective. Without all the information pertaining to a decision, that decision is made in the dark. Analysis requires the ability to see all the details.
See All The Details In Context
Without the proper context, details can be misunderstood or misrepresented. ChainDrive’s Merchandising component is part of an integrated retail management system. This means that all the data is collected and stored in a centralized database so that integration is automatic. Every detail can be seen in its proper context and analyzed in the level of focus needed for the purpose. Whether it is necessary to see product information at the SKU level, within a specific vendor’s offerings along the supply chain, at a particular store, or any other framework, having accurate data in accessible format enables merchandising decisions to be made with confidence.