Posted by SupplyChainBrain on Sept 29, 2022
Retail buyers are a key part of the retail supply chain, and buying the right amount of merchandise is one of the oldest, most challenging problems they face. Retailers also struggle to sift through copious data efficiently. Vendor Order Optimization (VOO), part of the suite of 4R Intelligent Inventory Optimization solutions, has been developed to help retailers make better buying decisions.
VOO projects inventory that will be needed throughout the supply chain, uses the projections to optimize orders subject to vendor requirements, and delivers the prepared orders to the buyer to process. Through VOO, retailers can reduce excess inventory and improve supply chain efficiency to maximize profitability at the SKU/store level.
Mark Garland, president and CEO at 4R says, “VOO focuses on generating more profit for customers. It does this by accounting for all internal and vendor constraints in its optimization and then directing buyers’ efforts to vendors and locations where immediate orders are most beneficial.”