Atlanta, Georgia – Feb 13, 2018 – Data Profits Inc. (www.Data-Profits.com), a leading provider of mid-market retail forecasting and replenishment software, is proud to announce that they have been included in the prestigious Gartner Inc. 2017 Market Guide for Retail Forecasting and Replenishment Solutions. This Guide was compiled by Gartner Research VP, Mike Griswold, who has worked at Gartner for 12 years and has 32 years of industry experience. One of the Key Trends highlighted in 2017 Guide by Mr. Griswold is the growing importance of Machine Learning and Artificial Intelligence(AI) in forecasting and replenishment systems.
Leading mid-market SaaS Supply Chain & Planning solution highlighted by Gartner
Atlanta, September 17, 2013 – Data Profits Inc. has been selected by Gartner Research to be included in their latest research report titled “The Gartner Retail Forecasting and Replenishment Vendor Guide, 2013,” published in August 2013. In this annual guide, Mike Griswold, Research VP at Gartner, analyzes the available SCM solutions to identify the key demand driven forecasting and inventory replenishment functionality that leads to higher supply chain performance and profitability. This guide is designed to be the starting point for retailers to select an appropriate solution provider based on forecasting and replenishment initiatives.
A mountain of research today shows that improving forecast accuracy delivers a high ROI. Improved forecast accuracy, when combined with software that translates the forecast into demand driven events, will decrease inventory and operating cost, increase service and sales, improve cash flow and GMROI, and increase pre-tax profitability.
Lowering Inventory and Raising Sales at the Same Time
Many people are conditioned to accept mediocre demand forecasting accuracy. The most common excuses I hear for keeping inaccurate forecasting include: “We paid a lot of money for the software” and “The software does a good job with other operations.” The irony is that the same people, when asked if they shopped for better software, will respond no. The explanations range from they do not see the value to disbelief – there isn’t a better demand forecasting solution in their market. Businesses have reacted for the last 20 years by placing more value on the plan, a top down approach that costs more money and has lower returns.
Attendance for our meeting included the CIO, Chief Merchant, Director of Forecasting, planners, and inventory management people. They told us their goals were to reduce operating capitol but maintain service levels for the web and store customers. The company wanted to increase turns while re-purposing the capital from inventory into new stores and acquisitions. The irony of the meeting is that while they used words like Demand Driven retail and Demand Forecasting, they were really talking about planning and goal setting. They believed that allocations were great and had never even thought of discussing top down versus bottom up as two distinctly different methodologies that are used to achieve entirely different goals. Read More
Data Profits’ Predictions for 2012 that Retailers need to Know Now
The official holiday shopping and Christmas season kicks-off this weekend, and is considered a bellwether for the retail industry, as this is the time of year when retailers earn up to 40% of their annual profits. Everyone is watching to see: will post-election results and the continuing shaky global economy drive shoppers back into their recessionary, frugal spending habits or will they be more willing to loosen purse strings?
Another major trend that industry insiders are speculating about is the influence of social media and ecommerce on this year’s holiday shopping season. Will consumers seek and find the best deals from their sofas by using their device of choice, avoiding the mob scenes at the Malls all together? With so many big questions looming, what can retailers do on the eve of the 2012 Holiday Shopping season that will make a strategic impact? Read More