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Assortment Optimization
Manually planning the unique assortments for each season required to maximize profit potential is not feasible given the intricacies of the retail environment. Merchants must consider financial and strategic objectives, historical sell-thru and missed opportunities, and many other factors. Though much of this data is available to them, the volume and complexity prevents them from effectively leveraging it. Instead, merchants are forced to rely on intuition and their own number crunching, resulting in unnecessary missed sales opportunities and excessive markdowns.
With 7thOnline Assortment Optimization, vendors and retailers can be confident that they are investing in a merchandise mix for each store that maximizes profit potential. Based on historical performance, customer data, and strategic objectives, 7thOnline Assortment Optimization generates the optimal category, class, and SKU breadth and depth to meet local demand while incorporating the necessary constraints. The optimization can be performed at various levels depending upon the client's requirements.
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