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Smart store-style ranking algorithm

28%

increase in sales velocity of SKUs which were consolidated as part of the inter-store transfer exercise.

13%

improvement in health of inventory

22%

poor performing NOOS pulled back suggested

50%

reduction in NOS allocation suggested.

Summary:

Using smart store-style ranking algorithms, one of India’s leading men’s casual wear brands, distributed inventory across ~120 EBOs based on the Smart Assortment Plan suggested by Iris X. It helped recognise the top seller styles, propose stock cover as per demand, and pull back poor performing stock to release working capital. Iris X helped the brand identify understock and overstocked scenarios to redistribute inventory, matching the right style to the right store to increase conversion. 

 

Objective:

To increase sales velocity by consolidating existing inventory across stores for a leading men’s casual wear brand in India

 

Solution: 

  • Smart Assortment Plan for ~120 exclusive brand outlets was created
  • Over/ under stocked scenarios were identified based on True ROS
  • Top sellers were identified and given adequate stock cover as per demand
  • A proprietary store style ranking algorithm was used to place the right style at the right store to increase conversions

Results: 

  • 28% increase in sales velocity of SKUs which were consolidated as part of the inter-store transfer exercise. 
  • 13% improvement in the health of inventory
  • 22% poor-performing NOOS pulled back suggested
  • 50% reduction in NOS allocation suggested. 
Customer:
Raymonds
Industry:
Fashion & Apparel
Company Size :
1000 - 5000 employees
Location :
India
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