"Offering the right product in the right place at the right time for the right price is retailing’s formula for perfection."
Rocket Science Retailing is Almost Here – Are You Ready? Harvard Business Review
The ability to manage inventory effectively can be the difference between success and failure for retailers. With inventories
often representing 30%-60% of current assets, retailers must turn inventories as quickly as possible whilst making a suitable margin.
It can be catastrophic if a retailer doesn’t have the right product in the right place at the right time for the right price.
Optimally balanced inventories can provide a powerful competitive advantage by delivering huge cost savings, sales
growth and sustainable performance improvements. Bearing this in mind, the need to successfully plan and optimise inventories is critical.
Whether your retail business is perennial or cyclical, auto parts, high fashion, hardware or food – you may have to address the following inventory management challenges:
- store-level presentation stock and plan-o-gram requirements
- a large number of products and stocking locations
- frequent and varying product life cycle changes
- the need to synchronise supply and demand
- variable demand patterns ranging from cyclical to trending to sporadic/slow moving
- demand volatility created by promotional activity
- the need to respond quickly to short term changes as well as plan demand and supply over the longer term
- the need to optimise inventories based on risk, costs, constraints and customer service level goals
- the need to constantly achieve the right mix and balance of inventories – at the right time
- supply variability and risk
- large data volumes
- import planning
- pre-build for peak seasons
GRA specialises in demand, inventory and supply chain optimisation and can work with you to optimise your supply chain network and
inventory levels while improving customer service, process efficiency and management controls. We identify opportunities and work with you
closely to deliver guaranteed results.
Working with GRA you can address the above challenges to achieve:
- reduced costs
- reduced inventory levels
- improved customer service levels
- significant working capital improvement
- improved return on assets
- improved operating efficiencies
GRA guarantees results, including a minimum 3:1 return (typical returns range from 10:1 to 30:1) and remuneration is based on delivered milestones.
We have achieved proven results with the following clients in the Retail space: Mitre 10, Repco, Super Cheap Auto,
and Symbion Pharmacy Services.
Retail Services
Examples of our supply chain Professional Services relevant to the Retail industry include:
GAINS Retail
GAINS Retail is a proven demand planning, inventory optimisation and supply chain management planning system that has benefited from an
unparalleled 30+ years of real world development and experience. GAINS Retail has been tailored to meet the needs of retailers ranging from
Fast Moving Consumer Goods (FMCG) to Hardware to Automotive to Clothing.
Read more about GAINS Retail brochure here.
Further reading
Supply Chain Review - Game Changer - Part 1
Prospects for the retail sector appear to be going from bad to worse, with far reaching implications.
GRA Partner Carter McNabb discusses the challenges and opportunities facing retail logistics service providers as the retail environment changes forever.
"Developing a multi-channel strategy can be daunting, particularly for retailers 'forced into it' by falling sales revenues.'
'Will it create a problem or an opportunity for your business?'
The entire article is available toread here in your browser or as a download below.
Supply Chain Review - Game Changer - Part 2
Cross-channel retailing is the new retail blueprint and logistics service providers must adapt to the new status quo.
GRA Partner Carter McNabb discusses cross-channel retailing as a solution to the issues retailers are currently facing.
"Is cross-channel the end-state or just another step towards a fully integrated online environment?'
The entire article is available toread here in your browser or as a download below.
Mitre 10 featured in MHD Magazine – “The Ultimate Retail Supply Chain Re-engineering”
GRA's client Mitre 10 is showcased in MHD for its successful 18-month supply chain re-engineering project.
"
Supply chains do not come more complex than consumer retail, and none more so than hardware stores. To ensure continued success and growth, in mid-2005 the Mitre 10 board queried the future direction and capability of its supply chain, which led to some intense analysis of the network's capabilities, capacity and future requirements."
The entire article is available as a download below.
Retail Demand Planning: 5-part series authored by GRA, published in Logistics Magazine
"Few would argue that demand planning directly and significantly impacts retail business profitability. Just think, how often can missed sales or excess inventory holdings – leading to lost revenue and wasted investment – be traced back to poor forecasting?"
"The quality of decision making in the areas of purchasing, replenishment and sales planning has a direct and undeniable impact on business ROI. While employing effective demand planning processes in a retail environment is increasingly considered essential, the best approach is not always clear."
This 5-part series published on retail demand planning in Logistics Magazine examines the various demand planning techniques used by retailers and recommends those that will help practitioners achieve the best results for their business.
Click 'Retail Demand Planning article series' to view on your browser or download the pdf below.
Presentations
GRA actively participates in retail industry events and conferences, please click here to view some of our recent presentations.
