While Zara and a few other global brands do 10 to 12 inventory turns in a year, the majority of the brands manage only 2 or 3 turns. One season of wrong buying can prove disastrous for brands. Inventory inefficiency is the biggest problem for brands to manage.
By optimizing the inventory mix at the most granular level, IRIS helps brands achieve higher revenues and margins at a lower cost of inventory.
IRIS is well positioned to address the problems of Fashion industry through:
- 100s of fashion-focussed algorithms designed to take care of the finer details like
- Substitutability and cannibalization among similar products through attribute grouping
- Ungrouping of stores and treating each store individually throughout the analysis
- Predicting demand at the right level of granularity
- Automatically taking care of availability issues and the liquidation in the past
- Seasonality, Events and Product life cycle
- A lot of flexibility to enable the merchandisers to take care of operational constraints and for implementing strategic calls
- A team of Subject matter experts in Buying and Merchandising to help with the decision-making process
- Need for minimal to no manual intervention post the set-up phase
- Integrated with all major LFRs for the seamless integration of Sales, Returns and Inventory data