Have You Planned For Failure?
There’s an old saying that goes, “Failure to plan is like planning to fail.” That’s certainly true in retail planning because, without it, you are gambling with your business and doing it blindfolded. But even when planning is done with careful analysis, you need to plan for failure.
Expecting The Unexpected
All along the supply chain, there are factors beyond our control. Political unrest in a country where your vendors work, extreme weather that delays or destroys shipments, and many other unexpected complications can arise. Planning for the unexpected means that you have the analytical power to assess the situation, regroup, and go with an alternate. You can’t do that without having a superior flexibility in your retail planning software and the integration that lets you see exactly what is happening in every part of your business.
When looking at retail planning software, the level of flexibility in your ability to set parameters has a direct effect on your ability to make intelligent decisions about alternative action. Look for things like the ability to lock and unlock pertinent data while you manipulate other information. Flexible planning and forecasting require the facility to segment views and critical indicators. An extensive options list, the ability to look at multiple seasons, customizable features, and professional support to help you get the most out of your software are all things that help you be flexible enough to meet any type of failure with confidence.
When something goes wrong, the ability to see the big picture puts things in perspective. Leveraging historical contribution patterns enables the determination of precise dollar distribution. Comparative analysis of sales and inventory data gives an accurate picture of where your business has been but real-time status and complete integration of all your channels give you the power to see what is happening now and evaluate what various strategies will accomplish. The accuracy that comes from an integrated view of your business gives you insight into what happened and what to do about it.
Every retailer knows that there will inevitably be some sort of failure that forces you to change your strategies sooner or later. ChainDrive Retail Planning software gives you the superior flexibility and integrational insight to plan for successfully overcoming that failure.