2 Things Product Management Software Must Optimize
Product management is an important factor in retail. Without the right products on the shelves, priced correctly and in the proper amounts, the consumer does not become your customer. ChainDrive’s Product Inventory Management software is designed by experienced retailers familiar with the pain points of product management and motivated by the potential that product management software can provide. The goals of controlling inventory levels and managing price points for optimal sales and profit are achievable with ChainDrive.
Controlling Inventory Levels
Inventory is a complicated facet of retailing. You need to have all the information concerning products from the point of origin to the point of sale and handle that information accurately so that the right products are available at the right levels. Different products, different suppliers, different challenges, etc. make the complications multiply exponentially.
ChainDrive’s Inventory Matrix is designed to handle purchasing, simulations, allocations, pre-distributions, transfers, and more easily. Whether you are looking at one product or many, this power module utilizes multiple product data attributes and centralizes the facilitation of the complexities of product management so that analyzation and action are appropriate and optimized.
Managing Price Points
Pricing needs to be appropriate and optimized, too. ChainDrive’s Price Management tool is designed to give retailers a multi-tiered approach to pricing their products so that prices are appropriate for every location, zone, or any other category the user chooses to define.
The expanded analytical and reporting tools provide a complete picture to the entire life cycle of the product including pricing. User-definable attributes are assigned directly to the product so that filtering is specifically based on the criteria that affect the unique situation. This enables product management teams to evaluate the effectiveness of past price changes and act in confidence that future price changes are the best possible strategies for the business.
Maximizing Sales & Profit
Being able to seamlessly track location and status of merchandise in real time provides a lot of benefit for retailers in too many ways to recount in one short post. ChainDrive’s centralized database combined with the power of the Matrix enables the retailer to manage the complexities of the supply chain at every point of the product lifecycle. Managing your inventory and pricing it optimally with ChainDrive Product Management software gives you the maximum potential for sales and profit.