During my almost seven years working with space planning, I’ve faced almost every question there is to ask around the topic. One, however, seems to come up constantly “Can we use forecast data when making the planograms?”
Predicting weather is not easy and rapid changes in weather can cause consumers to suddenly shop or cease to shop for specific products, which can quickly become costly for a retailer.
Sales promotion of one product impacts not only the sales of that product, but also products not in promotion.
“What would you consider a good level of forecast accuracy in our business?” is probably the single most frequent question we get from customers, consultants and other business experts alike.
This complete guide explains the facets of forecasting and why forecast accuracy is a good servant but a poor master.
Over the years almost every single retail initiative has had forecasting and replenishment at its core.
People are fickle, not wholly rational and make different decisions at different times. However, people are predictable in most of their buying decisions.
How does one create meaningful forecasts for new products when there is no sales history at all?
Demand forecasting for promotions is a major challenge for retailers, not least because of the impact it has on driving sales.
Manual forecasting generally produces results whose accuracy is, rather questionable. However it can be of benefit in certain situations.
In this whitepaper we take a look at how to optimize for the holiday season and draw lessons for year-round seasonal management.
As sales fluctuate significantly day to day, precision with fresh food is only possible through accurate daily forecasting and daily replenishment.
Spoilage reduction is the single most effective measure we know of that clients can take to boost their profits.
Supply chain integration is about knitting together operations of two or more companies via an integrated IT system. Learn how this can be done wisely.
In this article, we take a brief look at what sales and operations planning actually means and explain how data systems affect the execution of S&OP processes.
Particularetail trade companies, that often control both stores and warehouses themselves, no longer have any excuse for letting POS data gather dust in the stores’ till systems.