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Monthly Archives

October 2012

The 7 Most Frightening Lost Sales Facts - Part 1

Companies Miss the Staggering Impact of their Lost Sales

Most companies are totally blind to the amount of lost sales they accumulate each year. Without a Lost Sales measure, a company loses significant opportunities to the competition in the forms of repeat business and gross margin dollars. The real impact of lost sales is often further hidden by the false securities of in-stock reports and service level measures that are based on fill rate.

How often do you review a lost sales report? Do you know how the lost sales are calculated and if they are accurate? Most legacy systems lack a true measure of ‘Lost Sales’ for the many reasons listed above. Many companies miss out due to the age of legacy software (often more than 5 years). The hardware cost to run product/location data even 5 years ago would prevent most companies from buying software that needed mega expensive hardware. Legacy software left out these types of calculations as the customer market that could afford to pay for mainframe hardware was extremely small.
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Business Intelligence: Top 3 Challenges To Driving Success Through BI)

Business Intelligence: Top 3 Challenges to Implementation

Is your company struggling with implementing Business Intelligence. Do you have find yourself challenged with any of the following:

  1. Putting the latest theories in analysis, planning and strategy to work in the real world
  2. Using BI effectively in a global market
  3. Breaking down data silos in your company to see the full picture

If so, these are just three of the challenges that will be discussed at the Business Intelligence Summit on November 15 and 16 in Chicago. The Summit provides the opportunity to discuss with industry leaders how to use business intelligence effectively in today’s global market. The Summit will provide BI professionals with real world advice and strategies on how to convert Big Data into actionable insights and better business results. Read More

Big Data & Inventory Optimization: How do you Analyze your Business

Note: This is our second blog in our 2-part series on crunching Big Data. If you find this information interesting, be sure to check out part 1 on Big Data & Product Groups as well.

Many are sold on the idea that Big Data provides Retail Demand Intelligence (RDI) and that employing RDI with demand forecasting and inventory optimization will return retail to profitability. The startling truth is that 70-80% of Big Data BI projects fail; typically, we only learn about these projects when we see multi-million dollar accounting write-offs or when cell phone video of winter fur coats in a Hawaii department store shows up on YouTube.

Why was this happening? Perhaps the better question of “Why?” was rooted in the data analysis tools that were used to group products and locations together for allocation and assortment planning. How do we avoid this situation? Read More

Product Groups: Would you Allocate Winter Coats to Hawaii?

Got Groups? A major department store sent new winter coats every year to Hawaii.

Consumer Centric Retail is Product and Location

Product Groups and Product Ranking are the most utilized feature in legacy ERP systems. Think of the different ways data is grouped to use in the supply chain. Product Groups and Ranking reports are used for planning, allocation, and analysis reporting in most any retail, wholesale, or grocery line of business. Some businesses go further and use these same reports to run replenishment in Excel or other software, and other companies use product grouping and ranking for inventory optimization, price optimization, and exception management. Read More

Are you Looking to Put Profits Back in Your Produce?

Can You find the Profit in Your Data

A recent report by the National Resources Defense Council found that grocery stores and other food stores are losing up to $15 billion a year in unsold fruits and vegetables. The losses are magnified by additional pains in the grocery market: consumers’ demand for more local food options, expansion of organic foods, specialty produce, and availability of products year-round.

The grocery industry faces major challenges in successfully managing their supply chains. There is a lot of waste in grocery, food service and food wholesale. How much could be prevented with better demand forecasting, inventory replenishment and supply chain visibility?

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Data Profits’ Proven Demand Forecasting Retail Inventory Solution Now Available for Grocery

Data Profits’ iKIS Provides Grocery Industry with Demand Forecasting, Alert and Exception Management and Complete Supply Chain Visibility

Atlanta, October 2, 2012 – Grocers now have access to best-in-class demand forecasting, customizable exception management, and VMI with the Data Profits’ (https://www.data-profits.com) iKIS solution, which reduces loss in the supply chain and increases profits. Data Profits’ iKIS, “Internet’s Keeping Inventory Simple,” is a Software as a Service (SaaS) solution that leverages big data and the latest technology to accurately forecast with a 30 day install at less than 1/2 the cost of the competition.

“Data Profits understands the complexities of grocery including shelf life, investment-buying, deal and promotions buying, all while taking into consideration all seasonal, market, and event factors to create an accurate demand forecast,” said Stuart Dunkin, CEO of Data Profits. “Data Profits’ unmatched number of algorithms provides on-demand processing for grocers so they can make immediate adjustments and help prevent out-of-stock from sales, promotions, or disasters on a daily basis.”
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