LONDON--(BUSINESS WIRE)--SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest success story on achieving an average increase of $45 margin dollars per square foot in the softlines business by improving retail inventory management.
The company wanted to develop a new retail inventory management strategy to support softlines. The key objectives of the engagement are mentioned below.
- Objective 1: The company wanted to maintain inventory levels that could meet demand without over-purchasing.
- Objective 2: They also wanted to identify improvement opportunities as well as uncover business processes that posed a risk to achieving the transformation’s benefits.
- Interested in gaining detailed insights? Request a free demo and know how we can help you implement retail inventory management strategy and provide access to over 1000+ procurement reports.
“Retailers in the US must adopt retail inventory management strategies and technologies that go far beyond the traditional focus on cost savings to gain a competitive edge in the market,” says a procurement expert from SpendEdge.
Key findings and solutions offered
In collaboration with SpendEdge, the client – a specialty retailer in the US company – prioritized tactical plans for both immediate actions and as part of the system rollout. The solution offered helped them to:
- Achieve an average increase of over $45 margin dollars per square foot in the softlines business.
- Improve sales, reduce markdown, and increase replenishment efficiencies.
- Are you looking for solutions to improve retail inventory management? Request a free proposal to access our customized retail inventory management solutions today!
Outcome: To address the specific requirements of the client, the experts at SpendEdge analyzed the existing retail inventory management techniques. Based on their analysis, they recommended areas of maximum value related to the merchandising of products. This helped the client to identify opportunities to improve store inventory operations and drive overall business performance. The solution offered further helped the client to gain real-time insights into every aspect of their business, identify retail inventory management best practices, and implement a formal.
To access the complete case study on how we helped a retailer in the US to identify retail inventory management best practices and achieve significant savings, read the complete case study here!
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