7thonline Launches Integrated Allocation for Leading Omni-channel Retailers
Next generation planning and execution capabilities to drive increased levels of performance for the Apparel, Footwear and Accessories industry.
New York, NY – December 19, 2016 – 7thonline, Inc., a leading provider of cross-channel demand planning and execution solutions to the Apparel, Footwear and Accessories (AFA) industries, today announced the launch of the 7thonline Allocation Solution, a fully-integrated, cloud-based application with enhanced capabilities for optimizing sales, margin and inventory performance for both short lifecycle and seasonal basic product portfolios.
For fashion apparel and footwear retailers, the pressure to deliver exciting and compelling assortments in a “continually connected” consumer environment requires new capabilities to ensure the right product is in the right place at the right time. Moreover, today's savvy consumers demand a seamless shopping experience and have come to expect product assortments that cater to their needs anytime, anywhere. Drawing upon deep industry expertise, 7thonline incorporates its leading demand-driven merchandise planning and forecasting methodologies to drive new capabilities within the Allocation Solution to help retailers fully realize omni-channel profit opportunities and thereby, sustain a key competitive advantage.
To meet the challenge of satisfying today's omni-channel consumer, 7thonline Allocation leverages flexible, demand-driven algorithms to help retailers go beyond static, single-dimension clusters to maximize each individual store’s true selling potential. During in-season selling cycles, the Allocation Solution anticipates emerging trends using advanced forecasting capabilities to refine allocation strategies. For example, the application can consolidate items such as broken sizes or optimizing previously un-purchased products (e.g. online returns to stores) with advanced capabilities to ensure the highest propensity to sell at full price. In addition to managing replenishment-driven items, 7thonline's rich multi-dimensional, proprietary demand-shaping algorithms drive assortment strategy to deliver allocation plans that support new or seasonal products with limited or erratic sales history. For today's omni-channel retailer who seeks to enhance assortment localization and maximize store selling potential, 7thonline Allocation provides superior capabilities and offers a light-weight, cloud-based alternative to legacy systems:
- Dynamic store modeling instead of static store quantity to enable store-level demand, thereby allowing flexible product delivery across all channels
- Ability to consolidate discrete items (e.g. online returns, broken sizes) with advanced allocation models to drive full-price selling potential
- Leverage sales indexing instead of top-down clustering to maximize individual store sales and margin potential
- Proprietary algorithms incorporate demand to capture lost sales and drive seasonal full-price sell-through
- Integrated sales forecasting methodologies to anticipate dynamic, in-season trends
- Industry-specific color dispersion algorithms for optimal assortment color mix by selling door
- Robust stock-balancing capability to support multi-echelon allocation strategies
- Exception-based reporting and analysis to drive product management efficiency and scale
“7thonline Allocation provides today's retailers dramatic new abilities to systematically impact margins based on unprecedented understanding of store-level demand,” said Benjamin Lentini, Vice President of Planning Solutions. “We are very excited about the business value this application offers and the larger issue it helps retailers to address—how to re-align the broader supply chain with your omni-channel consumer demand. Combined with a modern planning system, demand-driven allocation is the critical beginning of a proactive supply chain for a true retail business leader.”
Visit www.7thonline.com or contact us today for more information. Schedule an appointment with us at the NRF Big Show, Jan 15-17, 2017 (Booth #1311, register today by following link).
7thonline is a leading provider of cross-channel merchandise and assortment management solutions to the Apparel, Footwear, and Accessories industries. Deployed in the cloud or as enterprise software, 7thonline solutions enable more effective planning, demand forecasting, and inventory optimization for fast-growing, omni-channel, leading brands. With embedded business intelligence and rich analytics, the company's solutions offer complete demand visibility and planning capabilities for wholesale, retail, and e-commerce—enabling increased sales, reduced markdowns, improved margins, and enhanced profitability. Customers include Bestseller, Brooks Brothers, Calvin Klein, Fast Retailing USA, G-III Apparel Group, GRI Retail Group (Hong Kong), Michael Kors, Nautica, Oakley, Patagonia, PVH and VF, among others. 7thonline is headquartered in New York, NY and has global offices in mainland China. To learn more, visit www.7thonline.com, read our blog at www.retailplanningblog.com, and follow us on Twitter at http://twitter.com/7thonlineInc.