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Yearly Archives


Data Profits Releases 4 Easy Replenishment Ideas that Adapt to the Digital Age
ATLANTA, July 20, 2017Data Profits, a mid-tier retail and wholesale demand forecasting and replenishment SaaS system, releases a new video: “P’s of Retail”. This video highlights four ideas that need focus in replenishment software for retail/ wholesale business to thrive in the digital age. Data Profits, highly popular blog has argued against several publications that claim retail ‘brick and mortar’ is dead. Explanations for the death of ‘brick and mortar’ point to the failure of retail technologies to adapt the digital age. Legacy forecasting and replenishment systems do not have the technology needed to adapt fast enough to the market shift brought in by digital technology.
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What Demand Forecasting tools are needed in your Demand Forecasting software? Watch and learn in 2 minutes the questions you need to ask when reviewing demand forecasting software. SlideShare lists 3 critical things missing in 80% of inventory replenishment and demand forecasting software today. Learn how these three things react to the new internet of things world of your customer. These 3 things have contributed significantly to the record high store closings expected in retail this year, over 17,000.

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Returning From Paradise to Solve Demand Forecasting Issues

As June passes we think ‘vacation’. A tropical island is my vacation dream. My northern friends often ask how can I stand the extreme heat of the tropic. The answer to that question is also the highlight of our content this month – I adapt fast. The human body of is highly adaptable. “Our bodies, highly amenable machines that they are, can acclimatize to cold environments and warm environments, alike.” The internet of things (IOT) has been battled by the movie business longer than anyone. VCR, Netflix, Redbox and even YouTube have put the heat on the movie business. The movie business has done a great job “ADAPTING” by cutting locations, changing products and adjusting even things like length of movie and credits all to entice the customer to go to a movie. While many consultants and bloggers write about the end of brick and mortar retail, this is far from certain. I leave you with a quote to think about as you read this month’s cover stories.

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Data Profits’ Demand Forecasting Software Solution Key to Retail IOT SurvivalData Profits’ Demand Forecasting and Replenishment Software Key to Retail IOT Survival
Atlanta, June 13, 2017 Data Profits updates their Demand Forecasting & Inventory Replenishment Software to offer additional tools to aid Retailers, Wholesalers, and Distributors with IoT Success and Survival. An April 22, 2017 CNN Money article states that it’s possible more than 8,600 brick-and-mortar stores will close their doors in 2017 (exceeds previous record set in 2008 of 6163 stores). This highlights the need for retailers to become adaptive or die. Retailers, wholesalers, and distributors must change inventory replenishment methodologies and software to adapt to quicker customer demand requirements. The IoT has changed the way people shop as well as customer expectations. “If a business does not adapt their replenishment to faster reaction times, they risk losing their customer, and ultimately their business,” said Stuart Dunkin, CEO Data Profits.

“It is not the strongest of the species that survives, not the most intelligent that survives. It is the one that is the most adaptable to change.” – Charles Darwin

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Are Retail Stores a Dinosaur waiting on the Big Asteroid IoT to Hit?

Are Brick Stores Really the Dinosaurs of Retail?

When will the asteroid IoT (internet of things) change the retail landscape into a permanent waste land? Some claim retail brick stores are a dinosaur waiting for the big asteroid IoT to hit and end it all. Many say retail is at the end of its days and point out how giants like Sears are almost extinct.  Writers and consultants highlight how the IoT is tearing away at the basic ‘how to make money in retail’ assumptions. I cannot count the number of columns written that say retail stores are the showroom for Amazon and eBay. There are hundreds of software companies that ‘claim’ to have the magic mobile solution to solve the showroom crisis and meet the IoT threats. Don’t see that working out so well either…
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3- <p>Shocking-Demand-Forecasting-Software-MistakesYou Are Probably Experiencing these Forecasting Problems

Demand Forecast should be a forecast of future need from your customers.  Most people fail to notice the little things wrong in their forecasting software that result in expensive over stocks and out of stocks. The 3 hot issues are: integer based forecast (whole number forecast), big data not being used in the forecasting math and demand planning software used for demand forecasting.

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Quick 3min Video Results to Demand Forecasting VS Sales Forecasting for Inventory ReplenishmentWe know millennials along with the rest of us learn better watching a video. YouTube and others have littered the internet with misinformation they call demand forecasting. Because the software says demand forecasting doesn’t mean it is demand forecasting, ha – obvious, right? Did you know there are differences in demand forecasting and sales forecasting? Google ‘Demand Forecasting videos’ and the top results are all using sales forecasting methodology, Not Demand. The inventory results caused by people using sales forecasting are costing companies millions of dollars. If demand forecasting and sales forecasting for inventory replenishment are the same, why use two different words: demand and sales? Most forecast videos talk about forecasting techniques and at some level forecast algorithms. The truth is the forecast algorithms for demand forecasting and sales forecasting can be the same. The key difference between demand and sales forecasting is the data being used in those algorithms.
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See Differences Between Demand Forecasting and Sales Forecasting for Inventory ReplenishmentATLANTA, April 27, 2017 – The Data Profits Team has noticed the most Frequent Question we receive is “What is The Difference Between Demand Forecasting and Sales Forecasting?” In fact, our most-read blog of all time deals with this subject. Even though this blog post is over 5 years old, it still attracts thousands of users to our website www.data-profits.com each month.

Data Profits’ goal is to educate our customers and readers/viewers of our blogs, SlideShare presentations, and YouTube videos.

Data Profits’ Video: “See Differences Between Demand Forecasting and Sales Forecasting for Inventory Replenishment”

We realize that millennials and others learn better by watching a video rather than reading a blog. Therefore, we introduced a new video that helps explain the Difference Between Demand Forecasting and Sales Forecasting. Click Here to watch our new video. Even if you feel you know Difference Between Demand Forecasting and Sales Forecasting, you may pick up a few tips for educating others.

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Demand Forecasting Methods Highlight Differences between Demand and Sales

Demand Forecasting software will measure and account for Lost Sales, overstock and closeouts. These are three pitfalls of not having a demand forecasting software solution. Sales forecasting methods doom you to repeat last years sales. Without real Demand Forecasting, tracking lost sales is only a KPI. Read More

End-to-End Customer Supply Chain Collaboration Data Profits’ Provides Tools Needed for Omni-Channel SuccessAtlanta, March 16, 2017 Data Profits provides Distributors, Retailers, and Wholesalers with Demand Forecasting and Inventory Replenishment Collaboration tools needed for Omni-Channel success.

Data Profits goal is to exceed our customers’ expectations with new tools needed for end to end collaboration. Unlike our competitors, we allow customers to determine the tools screens, alerts and degree of collaboration they extend to their users and suppliers.

Data Profits’ Demand Forecasting Difference

Many demand forecasting and inventory replenishment collaboration solutions do not allow real time data access to vendors. Legacy software reporting solutions are NOT end to end collaboration. Data Profits’ delivers real time access to data, also allowing vendors direct access to the demand forecasting and inventory replenishment tools.

Real time requires safeguards in place to protect the information you want to share. Data Profits developed a user security structure that allows our customers to define product/ locations a user can access and options to view only or make changes to demand forecast, orders and settings. iKIS™ user data security structure empowers customers with real time end to end collaboration. Whether information is received via our Reporting Solution with reports scheduled and emailed to all relevant users or signing into the live data in the system; security is extended based on products, locations, roles, management level and company. Also, iKIS™ has custom configurable user alerts auto sent to users when critical events occur. Ever have a promotion that sells faster than demand forecast, how long did it take you to notify the supplier and then take an action. Imagine a customer alert for that promotional item which anticipated the need to order more merchandise and sent a message to supplier with the product, location and inventory replenishment required before you ran out!

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