Inventory optimization for Food and Grocery retail chains

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Inventory Optimization for Food and Grocery:
Retigence predictive forecasting solutions for Food and Grocery chains

In merchandise many retailers are restricted by lack of accurate information on their sales , stock turnover and customer demand, The balance of right inventory is crucial for retailers as ” every stock that is excess  has an monetary effect on its business, while stock outs result in loss of sales, excess stocks add on to the inventory costs. Managing the right stock by re-ordering at the exact point not only helps, Food and grocery chains to control costs, but it also helps save costs by ordering goods in the right propotion taking into historical demand and future demand

RETIGENCE inventory system and  analytical engine helps retail and merchandisers profit from dynamic ordering

Its easy to use  and powerful ordering and reporting system provides data on real time basis such as inventory control, GMROI, stock out excess stock outs and, vendor procurement and SKU levels, which helps the operation managers  and C level executives take better decisions. Besides it also enables generating real time dynamic orders for vendors  and helps align their business to real time demand


How does Retigence PRAN differ from other” forecasting tools

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Retigence predictive intelligence
How Retigence can help align your inventory with real time demand

Retigence PRAN™, ( Predictive Analytics Engine) is designed to give retailers better insights “into their overall inventory performance,latest position of their SKU’s and help them to plan better by providing a real time state of their ordering and reordering points and enable them to maximise sales, profit, inventorty insighy ailability and customer satisfaction

Among the biggest business challenge for retailers is their inability to meet business challenges due to stock out or excess of stocks . Additionally working capital is locked in excess stock adversely affecting profitability,which in turn lead to lost customers,and inability to retain customers

By quickly and easily delivering required information to store owners, purchases and other decision makers, PRAN™ helps retailers enhance decision making, ultimately leading to higher sales, gross profit and faster growth.

Start ups set to disrupt ” supply chain Inventory forecasting” for mid markets

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retail forecastingWhile most enterprise customers are well versed with the issues that plague their supply chain inventor problems a have some kind of solution to tackle compliance. However its the small and the mid market retail stores and chains for whom managing real time inventory remains a perpetual consistent, made more acute by lack of investment on an kind of predictive analytic engine or that gives them what they need, instead of having to buy the ” off the shelf solutions ” used by big and enterprise customers

Among many start ups who are trying to ” solve this acute inventory demand forecasting is bangalore based start up Retigence technologies who have developed a PRAN (predictive analytics Engine ) to solve this retail inventory distortion problem

Their engine is based on SAP HANA platform, we help stores align inventory with real time demand powered by our analytics engine PRAN. To know more about our solutions click here

The Science of Online Shopping Decoded : Men vs Women

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How Much does Gender play a role in Online Shopping

 How does Gender Affect Online Shopping ? Most of us would like to theink that Men do Online Shopping more than women ? But is that the truth ? A recent study shows that  Women could be more likely to embrace online shopping than their men, a new report suggests. –

A January 2013 survey from ad agency DDB Worldwide of US web users’ attitudes toward ecommerce found that both males and females ages 18 to 34 were more likely than their 35- to 64-year-old counterparts to engage in nearly every online shopping activity, with 40% of males and 33% of females in the younger age group reporting that ideally they would buy everything online.

According to a Recent Research by an Online Retail Brand

§  Men were found to be more brand orientated, women novel-fashion decision makers.Solution: variation on presentation style of the product for men and women with novelty and brand features.
§  Women were more to make purchase if friend gave a recommendation, while men where not positively effected by it. Solution: Bring friends closer to the shop – e.g. Trip Advisor bringing in Facbook friends to their site.