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optimise your inventory to maximise the availability and profitability of your entire assortment

Non-food Retail: Maximise turnover with minimal capital investment

How well balanced is your inventory? Keeping costs to a minimum while ensuring that the right stock is available on the shelf can prove a major challenge for retailers operating in the non-food sector. On one hand, disappointing customers may force them to turn to the competition. However, on the other hand, holding high levels of stock requires a high level of capital investment. Slim4 allows retailers to take a dynamic and integrated approach to inventory management which in turn enables businesses to generate greater profit from their investment in stock.

Balancing inventory levels with expected demand

How do manage sales peaks? How do trends impact demand? Are there any recurring seasonal patterns? Through taking into consideration the sales patterns and trends at both an individual store level as well as at a national level, Slim4 dynamically calculates forecasts for each item and location. Slim4 also takes into account seasonal trends, product lifecycles, as well as the desired service level.

Promotions: 80% of your worries for just 20% of your sales

ERP systems are not designed to excel in a dynamic retail environment, especially when it comes to managing promotions. Through utilising the promotions manager within Slim4, retailers can build up stock in the central distribution centre in the run-up to a promotion which subsequently enables stock to be dynamically allocated in order to capitalise on local sales opportunities. Furthermore, in order to avoid losing out on sales in thriving stores as well as to minimise of overstocking underperforming stores, Slim4 constantly monitors the stock situations allowing retailers to be far more responsive to demand. Furthermore, by isolating promotional demand from the forecast calculation, Slim4 ensures future forecasts remain accurate outside of promotional events.

The right omni-channel strategy

How can you determine how best to allocate stock across physical stores and the webshop(s)? Taking an integrated approach to inventory management across the supply chain to ensure that inventory remains well balanced across all channels and locations. Slim4 indicates where best to hold stock as well as in which quantities. For example, in the event that there is a short stocked item which is also at the end of the product lifecycle, you may want to give priority to the physical stores in order to maximise customer satisfaction; especially where there is a high degree of integration between the physical stores and the online operation. This, in turn, prevents lost sales and ensures you make the absolute most of your stock.

Support of shelf plans

For many non-food retailers, planograms provide the basic formula on which a retailer can secure a differentiated image from the competitors. However, when it is time to change the planogram, it is important that new articles are phased in and out in a timely manner. Slim4 fully supports this process and ensures that the initial introduction of items is based on anticipated sales. Through taking into account the minimum and maximum on shelf stock levels, Slim4 ensures that sufficient levels of replenishment stock is ordered at a central level.


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Solutions to help your business thrive and grow

Slimstock offer many solutions that can help your business today.

Resources

Wolseley canada Published in News - 09 March 2018

Wolseley Canada added to Slimstock’s rapidly growing list of North American clients

Plumbing and HVAC supplier, Wolseley Canada, selects Slimstock to improve in-stock performance for clients. Slimstock, a global leader in providing inventory optimisation software, today announced they will be supporting Wolseley Canada’s effort to reengineer sales and operation planning processes to ensure optimum performance from over 220 stocking locations. Slimstock’s implementation consultants will partner with Wolseley
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excess stock automotive aftermarket Published in Automotive, News - 14 February 2018

Why is the automotive aftermarket stalling over excess stock?

Over the years, I have met with many businesses in the automotive aftermarket sector with demand planning and inventory optimisation always being a hot topic for discussion. For many of these businesses, excess stock is both a major speed bump and something which causes headaches for management, finance and supply chain teams alike. While there
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supply chain graduate opportunities Slimstock Published in News - 31 January 2018

Slimstock relaunch The National Inventory Test to promote supply chain graduate opportunities

After another year of continuous growth, Slimstock UK is on the lookout for the UK’s top supply chain talent to join its ever-expanding team. As part of the recruitment drive, the inventory management specialist has decided to relaunch the infamous National Inventory Test in a bid to help promote a number of exciting supply chain graduate
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