What Happens When Merchandising Is Poorly Managed?
There are many factors that can sink a retailer’s business but merchandising is one of the biggest because what you sell is how you make a profit. Poorly managed merchandising causes a chain reaction of failures that don’t need to happen because there is a solution. You can optimize merchandising with ChainDrive because this software platform is an integrated retail management solution that is professionally supported. This equips you to take the problems and pain points in merchandising and fix those problems effectively.
- Problem — Incorrect replenishment strategies create too few of what sells and too many of what nobody is buying. This results in out-of-stocks and excessive price markdowns.
Solution — ChainDrive’s Automated Replenishment settings can be set, edited, or deleted whenever you need to because you can monitor life-cycle, seasonality, promotions, etc. and then respond to what is actually happening in your business.
- Problem — Vendors get lost in the shuffle of all the types of vendors plus all the variety of things they supply you with so your supply chain hits snags on a regular basis.
Solution — ChainDrive’s Vendor Management tool gives you the ability to create specific vendor types, generate real-time performance reports, and analyze comprehensively down to the style, size, and/or color of the product.
- Problem — Calculating costs by hand is resulting in a lot of human error, which causes pricing errors and costs your profit.
Solution — ChainDrive’s Cost Calculators allow unlimited preset landed cost formulas that can be used repeatedly as needed. This increases the accuracy of landed cost estimates and gives you control over retail price setting and maintenance of your desired initial markup at the click of a button.
- Problem — Reports are created periodically and compiled for analysis later, forcing you to limit your analysis to historical data and keeping you from seeing the real-time status of your inventory and operations.
Solution — ChainDrive’s Analysis and Reporting tools are derived from the system’s integrated database so that crucial, relevant data is immediately available for real-time and comparative analysis whenever necessary. Keep track of what is going on in ways that make sense to you.
The problems that result from poorly managed merchandising are many, but the solution is simple. ChainDrive provides leading-edge simulation, purchasing, allocation and replenishment methodologies in the Merchandising component. This gives you the solution to these problems and many more because ChainDrive is designed to fit your business perfectly and eliminate the pain points in retail management.