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Time to Tighten the Links in your Chain™
A high-ranking executive at a U.S. retailer was recently faced with a serious issue; his company was being outsold by a competitor who was gaining considerable market share. “How can this be?” he thought to himself. We have the best legacy system available to help us with industry forecasting. What the executive didn’t know was that his competitor had stepped into the 21st century and away from the legacy systems of yester-year. When the executive assembled a team of company leaders to figure out what the competitor was doing so differently to be so successful in the marketplace, they were shocked…
Latest Press Release - Data Profits Empowers a Demand-driven Strategy for Retailers Gearing up for Holiday Shopping
Empowering Retailers with a Demand-driven Strategy for Holiday Shopping
ATLANTA, October 13, 2015 – For retailers, planning for the 2015 holiday shopping season – the season that can make or break the sales year—has been in process for months. In the case of shelf-stable stock, large purchase orders are already sitting on retail shelves. Leveraging technology to deliver actionable insights and forecasts, Data Profits provides retailers with the tools to ensure a profitable, nearly worry-free holiday season. Retailers can now take advantage of their free download “Data Profits 5 Step Checklist for Retailers to Gear Up for Holiday Shopping Season.”View More Press Releases
Latest Blog - 6 Seasonal Index Mistakes You Don't Want to Make
We all know snow shovels aren’t going to sell in the summer and beach towels will flop in December. Most of us can identify general seasonality and spot a really bad seasonal index by applying simple common sense. But do you frontload your key seasons or reduce orders because your Replenishment System doesn’t quite get the job done? You might be running into these common seasonality issues that cause retailers big headaches. The irony of seasonal index errors is they are one of the few things where an Excel file can actually solve the problem; yes schocking, we all thought Excel was a report tool.
The key point to remember – a seasonal index is just a multiplier to run against the base forecast. Some software solutions will lose you with a discussion using words like multiplicative and additive. While the discussion has merit, these terms only describe seasonality math, not how it needs to be applied in replenishment or even what numbers are needed in the seasonal index math. A seasonal index is multiplicative and a market force is additive against the base forecast…but then I have gotten ahead of myself.View More Blogs