The Power of Yin and Yang in Multi-Channel Demand Planning
7thonline Multi-Channel Demand Planning Ecosystem
At 7thonline, we understand the challenges brands face in maximizing inventory productivity across wholesale and direct-to-consumer (DTC) channels.
7thonline's DTC Demand Planning is 'Store-Based' (Yin), while its Wholesale Demand Planning is 'Account-Based' (Yang).
The two approaches are equally vital to your business yet when they are integrated as part of a whole, the combined benefits are significant.
Through decades of collaboration with clients like Patagonia, Canada Goose, PVH, Under Armour, Oakley and VF, we have learned, refined, and developed an end-to-end multi-channel demand planning technology that is purpose-built for inventory management, planners, and AEs.
Unfortunately, many people think they can manage wholesale with Excel or treat it the same as retail by using a 'store-based' solution, which leads to overstock and lost sales.
Recently, several leading, innovative brands have approached 7thonline seeking a technology that can help them overcome the unique challenges of wholesale channel demand planning.
Traditional demand planning tools were originally developed as 'store-based' solutions for CPG and food and beverage. After all, these are the largest consumer consumption categories so it makes sense.
However, while 'store-based' approaches are great for DTC brick and mortar, they cannot be retrofitted to work for wholesale demand planning - period.
Our wholesale demand planning is purpose-built as an 'account-based' system which is the only way to effectively manage wholesale.
It enables Account Executives (AEs) to take early demand signals from customers and provides demand visibility across all accounts.
It also enables quick order aggregation from brick-and-mortar and other channels, as well as effective planning for future demand with the aid of ML&AI forecasting.
Available to Sell (ATS) Reports can be created instantaneously versus aggregating bookings from hundreds of Excel worksheets.
As mentioned earlier and in stark contrast, our approach to DTC demand planning is 'store-based'.
Utilizing both strategies for multi-channel demand planning is crucial for success.