The solution uses prescriptive analytics for profit-optimal inventory assortment and quantifies the benefits of key merchandising decisions, increasing localisation and reducing SKU proliferation. 4R invites retailers to meet with their team 8-9 May 2017, Olympia, London, UK at Stand 510.
BERWYN, PA, USA, 2 May 2017 – 4R Systems, Inc., a leading provider of advanced omni retail inventory and supply chain solutions, announced its next generation assortment optimisation solution for omni retail chains. The company uses science and technology to help retail chains maximise profit from their omni retail inventory investment.
Many retailers use predictive analytics to determine assortment across their retail chain. 4R’s solution uses prescriptive analytics and machine learning to uncover correlations between product attributes and sales, identify substitution patterns, model the impact of promotions and seasonality, and predict demand for each item at every location, even where a product has never been sold. This equips a retailer to identify winning SKUs, prevent negative effects, and correct for stockouts.
4R’s prescriptive analytics outperform predictive analytics and position the retailer to realise ROI in months, not years. 4R’s prescriptive analytics move beyond showing what happened in the past, and beyond predicting future inventory activity. The solution accurately prescribes what, when, and where each SKU should be in the retail chain. 4R manages over £37 billion in retailers’ revenue and creates over 8 billion reorder points annually.
Mark Garland, 4R’s Executive Vice President Sales, Marketing & Solutions said, “4R’s next generation assortment optimisation solution is a retail game changer. Retailers have been pressured to pay exorbitant amounts of money for enterprise solutions with no assurance of increased profit—until now. 4R offers an Inventory Productivity Analysis. It shows in advance how much profit increase the retailer can expect. We always hit our target, or exceed it.”
Retailers attending RBTE can stop by Stand 510 to see demos of 4R’s Assortment Optimisation solution. They can discover how 4R’s Inventory Productivity Analysis shows in advance how much a retailer’s profit will increase. Stand visitors will also be entered to win an Amazon Echo Dot.
The solution helps retailers increase profit in these ways:
- It identifies winning SKUs, even those not offered in current assortments.
- It quantifies the benefits of key merchandising decisions, increasing localisation and reducing SKU proliferation. Clients can see in advance the additional profit from increasing the assortment localisation and select the level appropriate to its business.
- Visualisation tools enable clients to control assortment size based on revenue, profit, SKU count, space goals or other business constraints.
- It eliminates the need for third party measurement tools by automatically tracking rollout and performance of assortment changes during a pilot test as well as full deployment phases.
- It continually monitors category performance to trigger re-assortment if performance lags as well as on a scheduled basis.
- When combined with 4R replenishment, 4R’s assortment optimisation requires no additional data feeds and can calculate the impact of assortment changes on inventory cost.
Like all solutions offered by 4R, assortment optimisation is cloud based, requires no capital investment, no additional staff, and minimal IT resources. Deployment and ROI can be realised in a few months, not years!
Retailers can learn more about 4R’s Next Generation Assortment Optimisation Solution for omni retail by visiting http://4rsystems.com/rbte/.