Fashion as a business is complex owing to the constantly changing design trends, low depth of buying, diverse sizes and very long lead time from design to customer. These complexities make it difficult for the brands especially the buying, planning and merchandising functions to predict the demand accurately in a timely fashion and at an optimum level (for ex., how will checkered shirts in the price range of USD 150 – 200 perform at a store in Madison Avenue in NYC).
Though brands have set processes in place to deal with the difficulties of estimations and projections of their business, they are limited by the unavailability of right tools and technology to do it at a granular level. This leads to situations like unexpected built up of inventory or stock out of inventory forcing the brands to adopt liquidation measures and thereby hurting their top lines and margins.
Researched and built by a team of experts with vast experience in the Retail industry, IRIS was made as a simple, fast and easy to use version after 3 years of success of its original, more in- depth enterprise version’s success in the industry. It is an intelligent end-to-end merchandising tool designed to meet the ever-evolving unique needs and demands of the fashion brands.
The key area addressed by IRIS is to automate a merchandiser’s, day to day manual activities and make them more accurate, also reducing man-hours invested. These include the season planning, distribution and preparation of weekly review reports. On that note, you can deep dive on each of these areas in more detail by referring the IRIS user guide. In case you are more interested in just knowing how can it make your life simpler, your analysis and operations more accurate and your business larger, please refer the why IRIS section.