Quantum Retail Releases Q: Assortment and Range Planning
Quantum Retail announces the general availability of Q: Assortment and Range Planning, a new module running on its Q platform, which it reports will enable retailers to optimize the way they approach the art of assortment and range planning, financial reconciliation and product exit management.
The software has the smarts to perform all functions of product forecasting, assortment rationalization, intelligent store clustering and behavior modeling, Quantum Retail reports. The module also offers advanced size, pack and markdown optimization as a service, focused on giving the retailer the highest return on the inventory they are buying.
It does this by analyzing the demand of each store individually and rationalizing the product mix in each department to make recommendations to buyers as to which stores are over or under assorted, and identifies which products are holding back the category from reaching its goals. In turn, it has the know-how to calculate the best strategy to manage a product exit and phase in a new set of inventory.
Instead of managing hundreds of spreadsheets, the module constantly updates data on product performance and customer behavior, which it then uses to automate the way retailers manage and assort their stores. This allows retailers to easily determine what products should go into which locations and when, ultimately optimizing to merchandise objectives -- such as profitability, sales and service levels.
The software has the smarts to perform all functions of product forecasting, assortment rationalization, intelligent store clustering and behavior modeling, Quantum Retail reports. The module also offers advanced size, pack and markdown optimization as a service, focused on giving the retailer the highest return on the inventory they are buying.
It does this by analyzing the demand of each store individually and rationalizing the product mix in each department to make recommendations to buyers as to which stores are over or under assorted, and identifies which products are holding back the category from reaching its goals. In turn, it has the know-how to calculate the best strategy to manage a product exit and phase in a new set of inventory.
Instead of managing hundreds of spreadsheets, the module constantly updates data on product performance and customer behavior, which it then uses to automate the way retailers manage and assort their stores. This allows retailers to easily determine what products should go into which locations and when, ultimately optimizing to merchandise objectives -- such as profitability, sales and service levels.