Top 5 Retail Assortment Management Software
The assortment planning process is a very integral aspect for retailers. Retailers must make a choice such as on how to determine the appropriate assortment at stores and allocate the inventory in their warehouses, who, how, when and where to sell the stock. These decisions are vital in business decision making since they directly affect the business sales. Retailers must do assortment to gain a competitive edge in the industry. Retailers must do deep, wide, scrambled, mass market and localized assortment to optimize their merchandise category. Retail assortment management software can help retailers to fulfill the inventory across the sales channels efficiently.
Top Retail Assortment Management Software: Analyse2, JustEnough Assortment Planning, First Insight, Aptos Merchandise and Lifecycle Management, Oracle Retail Assortment and Item Planning are some of the Top Retail Assortment Management Software.
What are Retail Assortment Management Software?
Retail Assortment Management Software enables retailers manage the business operations from inventory acquisition to the point of sale. Retail Assortment Planning closes the gap between financial planning, and store planning and accurately identify the optimal merchandise mix. The Assortment mix considers multiple factors such as item attributes, store cluster, location and capacity, quantity. Retail Assortment Management Software helps to make the store more attractive to local shoppers while improving the profitability and efficiency of your categories.
- Assortment & Item Planning: Provides retailers with a highly visual, end-to-end workflow to define and execute local market assortments. This will help to improve conversion of traffic into sales, and also to increase customer satisfaction through item level visibility. This provides the ability to plan and manage this complexity in a user-friendly and cost-reducing manner.
- Automation: Retail Assortment Planning leverages embedded science and automation to provide an effective assortment strategy to maximize return on inventory investment.
- Inventory Management: Retail Assortment Management Software enables the user in the entire inventory management lifecycle from the purchase to the point of sale.
- Reporting and Analytics: Provides reporting and analytics features for assortment and item planning.
Retail Assortment Management Software is an essential tool that helps retailers better manage the assortment at stores to enable proper planning from the point of purchase, the sales channels to the point of sales.
Top Retail Assortment Management Software
Analyse2 Assortment Planning is a software-as-a-service-based and easy-to-use solution for finding the right products for each store. The company’s Analyse2 Shopper Insights provides facts about shoppers and their needs, shows how shoppers behave at the market trend level, as well as at SKU-level. Analyse2 Category Analytics shows the potential of categories, as well as their sales and development. It also shows improvement opportunities. Analyse2’s solutions support retailer-supplier collaboration, in which assortments can be built on a common understanding of shopper needs, targets, and market situation. Analyse2 customers have seen a 3 percentage point increase in gross margins, 5% increase in…
• Execution and monitoring: Monitor and adjust execution as needed
• Promotional planning: Choose correct items and pricing logic for maximum results and shopper satisfaction
• Basket analysis: See what items and categories are bought together and analyze shopping situations
• Markdown optimization with timing and price scaling
• Category demand modeling for space allocation
• Item-level demand forecasting and assortment optimization
JustEnough Assortment Planning
JustEnough Assortment Planning guides users through the process of creating localized assortments based on financial objectives. The solution uses clustering, profiling, and other techniques to build out assortment plans automatically so that users can invest their time applying their unique knowledge of the business and their customers. The result is a single picture of the assortment plan including new, ongoing, and leftover product that can be assigned to planograms to align with space plans and constraints. Site clusters are the cornerstone of JustEnough Assortment Planning. The solution quickly clusters customers and/or locations on multiple dimensions including customer purchasing behavior, demographics,…
• Site Clustering: Dynamic clustering can be performed across time at any level of the product hierarchy
• Target Creation and Assortment Rationalization
• Line Visualization allows merchandise planning organizations to view, manage, and refine assortment plans
• Receipt Planning and Commitments
• Assortment Rollup and Reconciliation: Aggregate assortment plan data, as well as reconcile key metrics
• Assortment Planning Dashboards: Identify over- and under-performing customer and product attributes
First Insight is the world’s leading provider of solutions that empower retailers and brands to incorporate the voice of the consumer into the design and merchandising of new products. Through the use of online consumer engagement, the First Insight solution gathers real-time consumer data and applies predictive analytic models to create actionable insights, which drive measurable value. Retailers, manufacturers, and brands use the First Insight solution to design, select, price and market the most profitable new products for reduced markdown rates and improved sales, margins and inventory turnover. Customers include some of the world’s leading vertically integrated brands, sporting goods…
• Predictive analytics and machine learning: Align customer preferences on new products
• Customized surveys and response options
• Targeted marketing: Create more effective and impactful marketing strategies that will drive results
• Real-time data analytics and customer feedback: Optimize product assortments and identify winning products and design elements
• MarginMovers: Maximize sell-through using the voice of your customer
• The Demand Curve lets retailers and manufacturers clearly see a forecast of a new product’s AUR
Aptos Merchandise and Lifecycle Management
Aptos Merchandise Lifecycle Management addresses the specific planning and merchandising functions most critical to current needs. This powerful retail solution enables users to align strategy with execution, deliver a strong brand message to target customers, go faster through the merchandise lifecycle, deliver optimized assortments, and ensure that consumer demand is met across channels. From concept to shelf, Aptos Merchandise Lifecycle Management includes five industry-leading modules that optimize all critical planning and merchandising functions: Merchandise Financial Planning, Assortment Planning and Buying, Product Lifecycle Management, Forecasting, Allocation, and Replenishment & Supply Chain Collaboration. Aptos Merchandise Lifecycle Management features a unified database that…
• Excel-based user interfaces
• Allocation and replenishment of wholesale inventory with the retail division
• Inventory valuations in multiple currencies
• Unicode support for multiple
• Customer Relationship Management / Clienteling
• Enterprise data and product management
Oracle Retail Assortment and Item Planning
Oracle Retail provides an integrated, single view of the enterprise, enabling retailers to innovate with speed and scale. With Oracle Retail’s Assortment & Item Planning Service, retailers can develop authentic and loyal customer relationships by delivering the right product in the right fulfillment location. Assortment & Item Planning provides retailers with a highly visual, end-to-end workflow to define and execute local market assortments, to improve conversion of traffic into sales, and to increase customer satisfaction, while increasing gross margin and return on investment through item-level visibility and the ability to plan and manage this complexity in a user-friendly and cost-reducing…
• Weekly receipt flow visibility and what-if promotions planning capabilities
• Reconciliation of bottom-up item plans and top-down financial plans
• Embedded science and automation
• Robust forecasting and assortment recommendation techniques
• In-Season/Post-Season Assortment Analysis
• Persona driven business processes