STORES Magazine - April 2008 - (Page 57)

Right Product, Right Place, Right Time, Right Price Make it a reality with an approach that works and doesn’t break the bank. ”Best of Breed” software that layers in the essential functions that facilitate your merchandise vision and strategy An integrated system approach that makes “service oriented architecture” a reality by eliminating all redundant data management The oldest axiom in retailing is to get the right product in the Getting disparate systems to work together is always a challenge. right place at the right time and at the right price. Seemingly, ITR, through its experience has successfully smoothed the get this formula right and you are on your way to success. integration process. The open gateways from our software suite to However, being successful in today’s marketplace is certainly more the retailer’s transaction processing system enable all systems to complicated. Having your finger on the pulse of emerging consumer communicate seamlessly, eliminating the need for any redundant preferences and plain old good luck and timing are key ingredients, data management. The graphic below is an example of how WorkMate but in the end, practicing good retail fundamentals will position you modules integrate to the retailer’s existing system infrastructure. to exploit those opportunities when they do present themselves. Project implementation that aligns the integrated An important step towards accomplishing this goal is to acquire software tools that easily merge “Best of Breed” software into your existing system infraand support systems with Retailer’s structure. In the last few years Retailer’s ERP Structure Data key business processes Merchandise a number of “Best of Breed” and Performance Data and best practices Planning software packages have become The final step in the puzzle available for the retailer to is to ensure that the newly evaluate. In addition, if your integrated system functions enterprise systems are somewhat are effectively aligned with dated, you might be confronted WorkMate Retailer’s the retailer’s key business Buyer’s WorkMate® with the prospect of replacing SPIN® Transaction processes and best practices. it with a newer model in order Analysis Data Warehouse Processing While this all comes and to get better control of the Repository System Wizards together after the system merchandise cycle. At ITR we is implemented, the can make that decision easier methodology to address and at the same time cost the defined processes and effective. Our Buyer’s WorkMate® practices is published software addresses the key and promoted at the outset of essentials for better control of WorkMate Assortment WorkMate WorkMate the merchandise cycle and at Planning/Store Planning Purchasing Forecasting the project. The methodology becomes the guideline for the same time generates product the following stages of the assortments that meet local project. ITR has a great deal of experience in blending the important consumer demand. WorkMate’s action oriented analytics (SPIN®), business processes with the software capabilities and its utilization Forecasting, Assortment Planning and Purchasing modules have been by the retailer’s organization. Final adoption and acceptance of the battle tested at today’s most demanding and successful retailers. methodology will be dependent on a number of critical factors: SPIN is not your average business intelligent software package. It is a powerful and focused analytic system aimed at identifying the • Top management commitment and support of the approach. key local trends that drive assortments for upcoming merchandise • Introducing the new software and system environment to the seasons. Built in wizards can execute against identified trends user community in such a way that there is clear understanding immediately without any intervening data movement requirement. of how it will enhance their ability to improve overall SPIN speaks directly with WorkMate’s Assortment Planning module merchandise performance. where local trends are applied to new season assortments ensuring • A phased implementation that capitalizes on early success of that desired product attributes are ideally matched to location high profile pilot user groups. demographics. The Forecasting module utilizes various specific predictive variables to create sales forecasts that generate the ideal • System facilities that measure ROI and success of the assortment depth and breadth by location. The Assortment Planning new methodology. module speaks to the Purchasing module and is the last execution step of the cycle. It ensures that what was planned is actually purchased and is consistent with the new season’s overall merchandise vision and strategy.

Table of Contents Feed for the Digital Edition of STORES Magazine - April 2008

STORES Magazine - April 2008 Contents Executive Editor's Page President's Page More Retailers Bagging Monthly Comp-Store Reports Time-Warner Center's Economy-Defying Results What Shoppers Think 10 Things You May Have Missed Numbers Worth Counting Full Price/Markdown Retail People Eating Locally Grocery Concept2Watch Restaurants Online Services Marketing Human Resources Product Lifecycle Management E-Commerce: Peer Reviews Drive Online Buyers Kiosks Recycling Operations Payment Systems POS Logistics E-Commerce: Getting Personal Website Management LOEB Retail Letter Arts Update Point of View NRF News Retail Industry Calendar Last Laugh

STORES Magazine - April 2008

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