Famous Footwear Leverages Demand Insight to Optimize Inventory
Through a better understanding of demand at the product level Famous Footwear is optimizing its inventory and reducing markdowns while simultaneously improving profitability.
The retailer has deployed Q Allocation and Replenishment from Quantum Retail Technology Inc., to provide an optimal inventory placement solution that works in conjunction with their existing legacy JDA allocation solution. With Q, Famous Footwear has an efficient and cost effective method to improve product service levels throughout each item's respective lifecycle. Optimizing inventory based on store item behavior and merchandise goals and strategies allows retailers to capture otherwise lost sales while reducing markdowns.
"Our selection of Q was based on our desire to drive conversion and turn through improved service levels. Mike Edwards, VP merchandising and sales operations for Brown Shoe/Famous Footwear said. "We knew the key to doing this was developing a better understanding of demand at the item/size/width level in each of our stores, With Q, we are able to optimize our inventory by leveraging these insights within our allocation process."
With Q, Famous Footwear has seen an uptick in store service levels and conversion for their full range of inventory. Additionally they have seen improved inventory balancing across their locations along with an improved ability to anticipate and respond to demand at the store level. Overall Famous Footwear is better positioned to serve their customers by getting the correct item/size/width to all their locations and improve profitability through their ability to sell the product in their stores at full price.
The retailer has deployed Q Allocation and Replenishment from Quantum Retail Technology Inc., to provide an optimal inventory placement solution that works in conjunction with their existing legacy JDA allocation solution. With Q, Famous Footwear has an efficient and cost effective method to improve product service levels throughout each item's respective lifecycle. Optimizing inventory based on store item behavior and merchandise goals and strategies allows retailers to capture otherwise lost sales while reducing markdowns.
"Our selection of Q was based on our desire to drive conversion and turn through improved service levels. Mike Edwards, VP merchandising and sales operations for Brown Shoe/Famous Footwear said. "We knew the key to doing this was developing a better understanding of demand at the item/size/width level in each of our stores, With Q, we are able to optimize our inventory by leveraging these insights within our allocation process."
With Q, Famous Footwear has seen an uptick in store service levels and conversion for their full range of inventory. Additionally they have seen improved inventory balancing across their locations along with an improved ability to anticipate and respond to demand at the store level. Overall Famous Footwear is better positioned to serve their customers by getting the correct item/size/width to all their locations and improve profitability through their ability to sell the product in their stores at full price.