Merchandise planning and allocation for holiday season sale to achieve high profitability. Read the Blog.

Iris M

Bringing Science to Fashion

Reimagine merchandise planning, buying, and distribution with Iris M. Experience consistent revenue uplifts like never before!

Realize true demand potential across offline and online sales channels by allocating the right inventory closer to your customers.

Built for small and medium B2B and B2C retailers, Iris M, a web-based, self-serve SaaS tool consisting of patent-pending algorithms, performs millions of computations within a few minutes of runtime.

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Impact

Regular feature updates ensure steady high performance of this innovative plug-&-play model to deliver astounding results.

20-25%

Revenue Uplift

1.5x

Increase in inventory turns

4-5%

Improvement in bottom line and margins

20%

Cutback in inventory holding

15%

Growth in full price sell-through

10%

Savings in logistics cost

30%

Boost in fulfillment from the local warehouse

90%

Reduction in resource time spent in stock allocation and buying process

13%

Reduction in stock brokenness

Modules

Our innovative merchandising, planning, distributing, and reporting solution helps tackle industry-related challenges with a clear, simplified, and detailed execution plan.

Assortment Plan

Considering fashion-specific factors like seasonality, local demographic, product attributes, discounting, etc. Iris M, an end-to-end algorithmic platform, helps merchandisers optimize inventory positioning and maximize sales at all online and offline POS channels. It helps:

  • Identify top sellers and NOOS
  • Perform computations to the granularity of 7 attributes for ideal decision making
  • Accurately predict the true size ratios
  • Analyze and discard highly discounted sales that distort true demand

Buy Plan

To maintain size continuity at stores, IRIS takes inputs from the smart assortment plan, assesses business constraints of planogram and revenue targets, and provide buyers with a month-wise buy plan that includes:

  • Depth of buy basis rate of sales at the store-attribute group level by analyzing past sales, revenue, discounts, size-cuts, stock-outs, and exposure. 
  • Size set ratios to buy based on true demand at size-level for all store & attribute group combinations. 

Regional Utilisation

A novel solution to intelligently split inventory across multiple warehouses, in proportion to the regional demand, for efficient e-commerce fulfillment.

  • Achieve higher regional utilization for better visibility and higher conversion on Marketplaces
  • Attain higher brand ranking on marketplaces
  • Earn significant savings on logistics costs
  • Manage faster deliveries
  • Lower Rate of returns

Distribution

Expose the right inventory, at the right location, at the right time. Ease merchandiser’s frequent distribution activities in a data-driven manner, using the latest sales trends to:

  • Maintain freshness through new season allocation 
  • Optimize existing stock through replenishment and replacement at all POS
  • Improve inventory health to reduce the loss of sales due to unavailability
  • Identify non-moving dead styles

Business Intelligence

Easily implement IRIS outputs which are illustrated via interactive and impactful reports that are categorized by roles and departments.

  • Business overview for executives
  • Category performance reports for merchandisers (Sell-through-rate, Sales, DoH, Top/Dead sellers, Planogram Adherence)
  • Target v/s Achievement, month-on-month store performance reports for operations
  • Design dashboards for buyers

Return analysis

A unique feature for B2B and B2C brands to track what got returned, in how much quantity, when and why did it return?

  • Being more conscientious of consumer behavior can help mitigate the risk of both returns and chargebacks. 
  • Brands can use these reports to create detection and prevention strategies that can positively impact their bottom line. 
  • The design team can extract insights on what not to produce

Iris X vs Iris M differences

Features IrisX IrisM
Primary Engagement Tool
For Large/ Medium businesses For Small/ Medium businesses
Browser based Browser based
Automated integration of Data Standalone system, no integration
SaaS+ Unique Software-as-a-Service “Plus” delivery model provides dedicated merchandising experts SaaS Software as a Service self usable model with on-demand support for usage issues
Performs billions of computations within hours of runtime Performs millions of computations within minutes of runtime
Uses patent-pending machine algorithms developed over 3 years of R&D Uses patent pending machine algorithms developed over 3 years of R&D

Features IrisX IrisM
Smart Assortment Plan
Discount Cleanup Identify and discard highly discounted sales that distort true demand Yes Yes
NOOS Never Out of Stock products Bestseller – Identifies bestsellers for a selected period Core – Identifies cores as well which are bestsellers with more consistency in sales Bestseller – Identifies bestsellers for a selected period
Product Attribute Group An attribute group represents a set of attributes that a customer uses to make a purchase decision. All analysis is done on attribute groups of products. E.g. Brand – Shirt – Casual – Male – 100 to 200 USD Handles 17 levels of attributes Handles 7 levels of attributes
Options How many options to have in each attribute group Calculates options by correcting for longtail at store-attribute group level Not available
Depth Mix of inventory at a store across all categories & attributes True demand identified at the store-attribute group level by analyzing past sales, revenue, discounts, size cuts, stock-outs, and exposure. True demand identified at store-attribute group level by analyzing past sales, revenue, discounts, size cuts, stock-outs, and exposure.
Size Set Ratio True demand at size level for all store & attribute group combinations Size continuity is maintained (e.g. S, M, L, XL, XXL) Size continuity is maintained (e.g. S, M, L, XL, XXL)
Different size set ratios are predicted for all store-attribute group combinations Different size set ratios are predicted for all store-attribute group combinations
Pivotal sizes (i.e. most important sizes) predicted for each store Not available

Features IrisX IrisM
Demand Forecasting
Demand Forecasting Depending upon AOP (Annual Operating Plan), forecasts the quantity, options and size-sets for each month-store-attribute group combination. Considering recency, seasonality, events and inventory live days. Depending upon AOP (Annual Operating Plan), forecasts the quantity and size-sets for each month-store-attribute group combination Consdering recency, seasonality, events and availability
Open To Buy (OTB) Provides actual procurement orders to be made based on Demand Planning, Depletion, Returns and other considerations like Lead Time and MoQ Not available

Features IrisX IrisM
Distribution
Methodology Proprietary store-style ranking to optimize inventory distribution Proprietary store-style ranking to optimize inventory distribution
New Season Allocation Yes Yes
In-season Replenishment Replenishes stores based on size continuity Replenishes stores based on size continuity
In-season Replacement Finds replacement style from attribute group if direct style replenishment cannot be done Finds replacement style from attribute group if direct style replenishment cannot be done
ARS- Automated Replenishment System Yes Not Available
Size-wise Display Yes Not Available
Collection/ Story-wise Display Yes Not Available
Dead Inventory Pullback Identifies non-moving dead styles in stores and suggests them for pullback to warehouse Identifies non-moving dead styles in stores. Pullback suggestions not available

Features IrisX IrisM
Interstore Transfers
Access current buying patterns and local preferences to distribute stock between stores for optimum sales Yes Not Available

Features IrisX IrisM
Regional Utilization
Intelligently split inventory across multiple warehouses, in proportion to the regional demand, for efficient e-commerce fulfillment. Not Available Yes

Features IrisX IrisM
Return Analysis
For B2B and B2C brands to track what piece returned, in how much quantity, when and the reason for return Not Available Yes

Features IrisX IrisM
Dynamic Discounting & Pricing
Basis a style’s ongoing performance and stock status, determine if it is an outperformer and should be re-ordered, or if the current discount should be increased or decreased. Yes Not Available

Features IrisX IrisM
Business Intelligence
Merchandising Reports – Style performance, Stock v/s Sales, STR/Discount v/s ROS, DoH, Planogram Adherence, Top/Dead sellers, Attribute performance Merchandising Reports – STR, Sales Velocity, DoH, Top/Dead sellers, Planogram Adherence
Operational Reports – Target v/s Achievement, Week on Week performance, Sales per SqFt, Flexible time period comparisons Operational Reports – Target v/s Achievement, Month on month performance, Returns Analysis, Online Analysis

Features IrisX IrisM
Pricing
Contact Us For Pricing User-based pricing. FREE for the first ONE month
* Payments accepted via bank transfers against monthly invoice FREE for the first ONE month 1st user – $1299 / month Every additional user – $699 / month With unlimited data, styles, stores and sales channels Monthly payment using your Credit Card or Debit Card

Have questions? Get in touch with us and we'll walk you through it. sales@increff.com

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