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The client is a retail company based out of Canada. Our client, a retail brand, faced significant losses due to overproduction. Besides, they faced difficulties in efficiently managing supply chain processes. In order to prevent supply chain disruption, they wanted to identify, forecast, and fulfill product demand based on the market needs. They chose to partner with Infiniti Research to leverage their expertise in offering demand management solution.
During the COVID-19 crisis, it is critical for companies in the retail market to take calculative and well-executed measures to ensure business continuity in the long run. Contact us to know how industry experts at Infiniti Research can help you plan and create comprehensive action plans to navigate the crisis.
The experts at Infiniti Research followed a three-phased approach that involved:
- Market research engagement to analyze industry transformations and developments in the Canadian retail market.
- Inventory forecasting solution to forecast the target stock level to meet the potential market demand.
- Demand planning engagement to predict demand patterns based on historical sales data, customer orders, and market indicators.
By tracking real-time inventory data, the experts at Infiniti Research helped the client to improve visibility across the supply chain. Also, by leveraging demand management solution, the experts helped the client to optimize functions such as forecast-to-stock, order-to-cash, prepare effective production schedules, and optimize inventory levels to significantly lower operating costs.
Besides, by thoroughly analyzing the client’s core areas such as storage strategy, supplier relationships, and the speed of moving supplies, the experts helped them to identify processes that cost the most and areas where revenue is being used inefficiently. This helped the retail market client to improve these core areas and produce significant cost savings. Also, the client was able to identify cost-effective solutions for transportation, gain access to better inventory management, and speed up transportation processes. The company was able to reduce inventory costs by 13%, and thereby enhance profits by 21%.
For an in-depth market analysis on how COVID-19 will impact the retail market and data-driven insights to plan your next moves, request more info here.
About Infiniti Research
Established in 2003, Infiniti Research, is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us