Why QueBIT for Retail
QueBIT’s solutions for retail analytics and demand planning offer an intuitive, interactive planning environment with highly accurate predictive demand forecasts. Our solution generates forecasts using advanced statistical and machine learning techniques. Reporting options include financial, merchandise management, workforce, and executive review dashboards. Our tools for planning enable finance teams to plan costs by department and headcount, while merchandise teams can plan by SKU/Channel/Region/Store/Department.
Predictive Demand Planning & Forecasting for Retail
Predictive demand planning is the result of leveraging highly accurate demand forecasts generated by predictive models within an intuitive, interactive planning interface. Predictive demand analytics enables you to maximize revenue and control costs by driving higher accuracy of demand forecasts. When implemented, you gain abilities such as modeling life fashion life cycles, new product modeling, and demand planning by SKU/region/store/department. Predictive demand planning adds unique value by providing QueBIT’s proprietary methods of independently modeling trends and seasonality.
Predictive Price Optimization for Retail
Personalized, dynamic pricing is the most effective method for retail organizations to quickly increase revenue and profits! Predictive Price Optimization provides a unified approach to price management, price optimization, promotions and markdown pricing. With its advanced predictive analytics and clustering technology, enables you to set the optimal SKU-level pricing down to the store for brick and mortar retailers or zip code level for e-commerce retailers. QueBIT’s implementation team and best practices will configure your solution to provide the reporting and analytics designed to your specifications.
Predictive Assortment Planning
Predictive Assortment Planning solution maximizes product availability for retailers by building store-specific assortments, tailored to each retail store’s unique demands. The solution leverages predictive models, which forecast sale quantities (or propensity of sale for slow-moving products) for all items (with and without sales history) at each retail location. The solution also incorporates sophisticated life cycle modeling to add items at just the right time.
Item and Assortment Planning - Assortment planning gives retailers the tools to manage inventory operations from purchasing to point-of-sale. Assortment planning bridges the gap between financial planning and store level planning, while accurately identifying the correct mix of products to achieve those plans. The optimal assortment analyzes many factors, such as item attributes, store clusters, demographic clusters, store capacity, and quantities. Optimized assortments drive higher customer satisfaction, store profitability and efficiency in categories.
- Automation – leverages embedded data science and data automation to provide an effective assortment strategy.
- Inventory Management – effective assortment planning provides an optimal method of managing inventory lifecycle.
- Reporting and Analytics – provides dashboards and reports to help monitor the plan.
Supply Chain for Retail
Retail supply chains are always tasked with reducing spend. QueBIT will provide the methods and tools to gather and analyze data about their suppliers and procurement contracts, across their entire enterprise. Through effective analysis of this data, outliers at the higher end of price levels can be identified, and strategies for consolidating suppliers can be implemented. Opportunities for additional savings can be identified by gaining insight into trends, such as minimum prices paid, price history, and quantity comparisons.
Dashboards for retail supply chain include:
- Sourcing and Supplier Performance
- Warehousing and Distribution
- Transportation and Logistics
- Omni – Channel Insights
QueBIT is an award winning consulting firm that partners with best-of-breed technologies to deliver exceptional results. QueBIT’s experts combine industry and business experience with deep technical skills to advise on, design, build and deploy practical analytics solutions that add value to our customers’ businesses.