Summary:
Optimized inventory through the smart assortment planning for different sales channels. one of India’s biggest celebrity-endorsed fashion brands reduced overstocking by defining display norms as per the actual sales patterns. Using Iris X it was able to identify and bet more on top performers at each store and exit buying of non-performing attribute groups. It also redefined stock requirements to optimize initial launch requirements across stores.
Objective:
To optimize inventory for one of India’s biggest high growth celebrity-endorsed fast fashion brands.
Solution:
- Smart Assortment plan for 4 different channels (~200 stores) was created
- Optimized the buying to exit the non-performing attribute groups and bet more on top performers at each individual store
- Reduced overstocking in bottom stores by defining display norms as per the actual sales patterns.
Result:
- 13% increase in full price sell-through
- 25% reduction in width at a channel level
- 12% improvement in ASP.
