Precision in demand prediction: How advanced sales forecasting ensures optimal inventory levels across stores at BENT
How do you improve stock levels at fashion retail stores, ensuring that each customer who enters a store can actually find the item they were looking for still in stock?Â
Learn how we helped BENT improve in-season redistribution of items across webshop and physical stores.
Client Introduction
Jan, CEO at BENT
- Industry: Retail
- Role: Chief Executive Officer
- Company Size: €20M in revenue
Under the experienced leadership of CEO Jan, BENT has successfully navigated the fashion retail landscape in Belgium. Now operating within a rapidly evolving and highly competitive shoe industry, BENT recognized the urgent need to adopt advanced technologies to maintain its competitive edge and ensure continued growth.
Introducing Advanced Tooling to Analyze & Redistribute Stock Across Stores
BENT faced inventory management challenges exacerbated by the rise of e-commerce. The need for more precise stock levels across stores became crucial as customer tolerance for out-of-stock situations diminished sharply. Managing 300,000 products across 20 stores without a sophisticated system led to potential sales losses and operational inefficiencies.
Solution Outline
Crunch introduced a custom-made algorithm designed to automate and optimize inventory management across all BENT stores:
- Automated Inventory Analysis: Periodic analysis of each product’s stock level to determine necessary inventory adjustments, directly integrated into BENT's ERP system.
- Data-Driven Redistribution: This method utilizes sales data and other metrics to predict and react to inventory needs in real-time, ensuring optimal stock levels and minimizing overstock.
- User-Friendly Interface: A streamlined dashboard for easy monitoring and management of inventory processes.
Results
Post-implementation, BENT saw a 5-10% increase in revenue from improved in-store sales. Reducing stockouts and overstock situations also led to lower financial risk and enhanced customer experiences. The efficiency of the automated system significantly reduced operational costs.
Conclusion
The strategic integration of advanced sales forecasting and inventory management tools by Crunch enabled BENT to not only meet but exceed its operational and sales goals. This case study demonstrates the transformative power of technology in optimizing retail operations and driving sustainable growth.
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