Featured client // Marks & Spencer
The market is asking new questions of grocers
Questions about customer preference – questions about the right amount of stock – questions about waste – questions about local products – questions about availability.
A competitive race to the top //
Grocers are also becoming more competitive with pricing, product and pack variety. As consumers scale back their purchases to more necessary items and better value, grocers need to understand how to best shape their business objectives and have advanced awareness to stock levels and selling behavior of every product at every store in their chain. That awareness comes from a mix of store strategy and technology.
Real-time demand forecasts to reduce wastage //
Quantum’s system, Q, understands and considers the impact of potential waste on every inventory decision it makes, and balances that with the availability that the retailer shows the customer. Q considers waste not only in historical sales, but converts it into true demand forecasts which utilize local demand to decide how much inventory to place in each location to meet financial objectives and fulfill the demand appropriately.
Up to the minute reaction time //
Q can also take in and analyze data as fast as the grocer can provide it – whether that’s hourly, daily, or multiple days at once. Q uses this understanding of sales, inventory positions and stock outs to create a very granular picture of demand and product behavior that allows Q to do a superior job of determining what the appropriate inventory support should be for each product in every store. Q projects that understanding forward to create a demand forecast and inventory recommendation going forward.
Advanced automated decision making //
Users are able to track stock, service level, price, promotional history, weather and over 30 dimensions of product behavior in Q’s continuous time environment, allowing users to scroll back in time or predict future performance. The system learns from these behaviors and can automatically make decisions based on the most profitable actions, highest service levels and business strategies.
Q is the answer for grocers with an urgency to align their inventory, reduce waste and gain consumer insight. When a merchant is able to fulfill customer needs at a local level – they will quickly become profitable and gain a competitive advantage.
LISTEN >> Greg Wilson, Director of Field Strategy at Quantum Retail discusses how grocers can improve inventory management practices through strategies that improve understanding and reaction to localized demand, with technology that learns from shopper behavior on a day to day basis.