One of our retailers in the US started his business from one outlet about 9 years ago and in the next 13 years he expanded his business by moving 10 more outlets to different locations but all outlets are supplied with goods from oneplace. Over time, the number of consumers has started increasing. And as according to local social, economic conditions of consumers, and traditions, the demand for different goods began to increase, in other words, we can say consumer tests vary with need and time resulting in adverse effects on inventory management and supply chain management. Due to the early depletion of the items in demand, there was a shortage and at other hands, it became difficult to manage expenditure on unsold product management resulting in customer complaints
After a thorough study of everything, we designed an application for them that fetch the data from all their outlets in one server, filter data and do analytics of how many items were sold in which outlets at different times in the past and predict how much demand will be in each outlet in the future. If an item is not being sold, it suggests what offer would be beneficial to push the product.
Up to 78% of the stock clearance costs of unsold product management were reduced the number of customers also increased as they got the desired items in time.
Need help with a similar project?
Drop us a line, and our rep will contact you within 30 minutes to arrange an initial discussion.