Enterprise software vendor to the retail industry, Quantum Retail, has released the latest version of its revolutionary inventory management and optimization solution, Q.
MINNEAPOLIS, MN – May 26, 2009 – Enterprise software vendor to the retail industry, Quantum Retail, has released the latest version of its revolutionary inventory management and optimization solution, Q.
Q, which is available in both on-premise and on-demand formats, is now capable of handling all centralized inventory management activities required by major retailers. Q’s unique bottom up approach to driving allocation and replenishment for retailers includes both inventory optimization and inventory distribution activities. From supplier to store Q automatically drives time phased and multi-tier allocation and replenishment recommendations, with as much or as little user input as desired. It accomplishes this thanks to its superior long range forecasting capabilities and ability to process in real time.
Q serves as a comprehensive demand platform for retailers. It calculates demand and selling behavior for each product, at every store individually, and does not dilute the sku/store demand signals through traditional averaging and aggregating techniques. The demand platform dynamically creates unique SKU/store profiles, for topics including seasonality, day of week, time of day, life-cycle, etc., and manages against supply and demand side events and constraints. This enables Q to make the atomic level adjustments necessary to capture extra full prices sales while greatly reducing inventory investment.
Q also plans orders days or even months into the future by understanding how inventory is likely to be placed in stores and automatically executes those plans as orders or allocations. These time phased order and inventory plans can be configured to handle warehoused inventory, cross-dock, direct store deliveries, and complex internal supply networks. This enables near real-time dynamic re-planning and distribution of inventory to meet merchandising and financial objectives.
The user interface of Q is process driven and extremely low touch, utilizing only six screens for all reporting, analysis and controls, simplifying the experience for the user; Q guides the user through a prioritized work-flow process to accomplish the tasks is at hand. Although most of Q’s processes are automated, the user always has the option to review and override decisions, and can perform ‘what-if’ analysis to understand the impact any changes may have.
For inventory analysis, Q provides deep insight into a retailer’s business by reporting on a variety of key performance indicators (KPIs) to determine current product performance, as well as potential product performance based on a series of continuous simulations run by the program. Metrics can be viewed based on constrained demand, and will show current and potential demand based on current availability or scarcity of products. Q will also pro-actively recommend improvements to the user.
Q has been proven effective for virtually all retail sub-verticals, from fast-fashion to hard-lines to grocery. The system has configurable portals for different roles in the organization ranging from senior executives to merchandisers to store managers. Q also comes with optional portals for vendors and other suppliers, to give them more advanced views into future order plans. Quantum is currently extending Q to support assortment planning and management processes, which will be launched in the coming months.
About Quantum Retail Technology, Inc.
Quantum Retail answers the new questions facing retailers with a merchandise optimization suite designed for the increasing pace and complexity of the consumer revolution and today’s competitive landscape. Quantum Retail’s solutions solve the most difficult and costly problems retailers face – quickly and permanently. Our Q solution is the answer for: Forecasting and Order Planning – Replenishment and Allocation – Assortment and Range Planning.
The third largest womenswear retailer in the UK saw like-for-like sales rise by over 2.8% over the 14 weeks to January 3. Since then New Look has continued to perform well while other retailers are finding the going hard. The fast fashion retailer was aided by Q a new inventory management system that allows retailers to achieve their goals for every product in every store. This intelligent software updates inventory in real time, telling you when one size is selling faster, when a line is not selling and when a certain item is flying off the shelves. It means the customer gets what they want every time.
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