RedPrairie Corporation, a consumer driven optimisation company, has revealed at RedShift 2007, its tenth annual user conference and industry summit, that it addresses the E2e supply chain with solutions that optimise people and products from store shelf to manufacturing. This expansion of the traditional supply chain to include the retail store drives revenue and provides strategic advantage to both retailers and suppliers. Additionally, RedPrairie enables point of sale (POS) demand signals to trigger and forecast inventory and workforce demand across the expanded chain.
According to RedPrairie CEO John Jazwiec, “RedPrairie’s E2e strategy presents our world leading customers with new ways to drive both top line revenue and bottom line results. Our solutions use consumer demand signals in the store to trigger optimisation and synchronise every person and process in the chain back through manufacturing, resulting in reduced inventory and human capital costs.
Additionally, by combining task management, inventory and workforce management at the retail level, we ensure the right people and products are in place at the right time to perfect the consumer experience and drive additional sales. No other solutions provider can deliver true end-to-end consumer driven optimisation.”
By capturing demand signals, retailers maximise opportunities to fulfil consumer demand and align tasks and labour to provide a satisfying consumer experience possible, resulting in increased revenues. Several companies today focus on the supply chain from their suppliers to the delivery at the retail store.
However, without visibility to the product in the back room of the store or on the store shelf, they cannot ensure products are available when the consumer wants them. Nor can they optimise their workforce and tasks within the store to perfect the consumer experience.
RedPrairie President of Retail Productivity Solutions Kim Eaton says, “According to industry research, 47% of consumers leave the store due to inventory stock-outs, resulting in billions of dollars in lost sales revenue. Consumers are short on time and patience. When they cannot find the exact items they want or someone to help them, they often walk out of a store empty-handed. This results in lost revenue for both retailers and suppliers.”
She continues, “With visibility and responsiveness to real-time consumer demand, RedPrairie customers can forecast their business in 15 minute increments to achieve highly accurate labour coverage and more precise inventories to match what consumers want. In the end, retailers are able to improve their business by capitalising on revenue opportunities and aligning labour dollars to the right priorities.”
According to Jazwiec, “Suppliers and manufacturers also benefit from an E2e approach by leveraging the aggregation of demand signals captured by retailers to validate their forecasts and reduce safety stock in their supply chains.”