One of the questions that we get quite frequently is what is the difference between Demand Forecasting and Sales Forecasting? It seems that often the terms are used interchangeably. But once you understand the benefits between them, you’ll realize how important the distinction is. Then the next logical question is how do you know which […]
“Omni-channel” is a big buzz word in retail right now. Everyone wants to be “Omni-Channel”. The reasoning for an omni-channel approach is sound. For marketing and merchandising, customers see the same messaging, items, and pricing across all platforms. For inventory and order fulfillment, customers have access to all of your inventory, from stores to DCs. […]
Lead Time is an important factor in any demand-driven forecasting or retail replenishment system. It drives your order points and helps you place orders at just the right time. If your lead time is inaccurate you will quickly find yourself overstocked or understocked. Are you making these common lead time mistakes that cost retailers millions?
Wonder What Happens Next in this Slow Moving Scene? I call them “heartbeat” products. Every Retailer and Manufacturer has them. The slow or niche products that don’t sell every day but are still vital to your business. If you charted their sales history, it would look like a heart monitor, up one week, down the […]
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 […]
Lost Sales are just a KPI, Right?!? Lost sales are a perpetual worry for all retailers. If your shelves are empty, customers go home empty-handed, and you won’t make your sales plan. Most replenishment systems and demand forecasting systems offer a lost sales calculation to help retailers manage this key business problem. But is your […]
Research papers support 80% of out-of-stocks are not the fault of the supplier. That means the majority of your lost sales can be quickly reduced by updating your processes and potentially your software. Read our recent story concerning the perils of weekly replenishment processes, seize your opportunity in your business to move ahead of the […]
ATLANTA, June 23, 2015 /PRNewswire/ — Data Profits Inc., (https://data-profits.com), a leading mid-market solutiondemand forecasting provider, announced today that The Empire Company LLC has selected Data Profits for their demand forecasting, order management, and replenishment solutions. The Empire Company LLC, headquartered in Zeeland, Michigan, is one of the largest millwork distributors in the United States. Their […]
80% of your product makes up only 20% of sales. Almost 30% of your product sells less than 1 per period. Managing the inventory for the 80% product mix is critical to raising profits and beating the competition. Retailers that continue to use top down replenishment strategies will not survive the new marketplace with the […]
ATLANTA, June 2, 2015 – When it comes to software-as-a-service (SaaS) providers, things aren’t always as they seem. In fact, some software vendors calling themselves SaaS providers may actually be representing Web-hosted or cloud-based services–which, although similar to SaaS, are typically less secure and more costly. Now demand forecasting company Data Profits wants to make […]