Are You Using The Right Data For Retail Planning?
Retail planning is an important part of retail management, for without planned goals, how do you know you succeeded? But planning has to be based on reality or the plan is only a daydream. That’s why it is essential that retailers use their own data to plan. They also need to use all the data from across every channel and use that data with understanding. Fortunately for retailers, ChainDrive’s planning/OTB software is designed to do exactly that.
Use Your Own Data
With ChainDrive’s Integrated Retail Management solution, data is collected automatically at appropriate transactions like point-of-sale or product replenishment. All this data is a valuable asset and it is stored securely in a centralized database. This gives retail management a foundation of both real-time and historical data for analysis and planning. Profitable buying decisions, adequate stock levels, Open-To-Buy flexibility, and more are based on the actual needs of your specific business.
Use All Your Data
A business that separates their data into isolated silos of information is a business that needs help. Just as customers move freely from the physical store to the website to various online marketplaces, retail planners must move with equal freedom between all the channels and locations within an enterprise from one end of the supply chain to the other.
The centralized database is the foundation this freedom is built upon, and ChainDrive provides the software tools to use all your data efficiently.
Use Data Views You Understand
Versatile data displays enable a team to look at the information needed in multiple formats. Flexibility like this means that comparison and analysis can be accurate and planning can be optimized. Segmented views adapt to various users according to their preferences, displaying data the way each user needs to see it.
ChainDrive’s planning/OTB component gives users the power to plan, validate, and lock during planning mode. This enables brainstorming, freezing a single data cell or an entire sub-level through various adjustments so no possibilities are overlooked. Look at a single season or the entire year, sales versus markdowns, purchases versus gross margin, or any other combination of data comprehensively.
ChainDrive makes it possible to use the right data for retail planning because you will be using your own data, all of your data, and using data views you understand.