IRIS Enterprise

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IRIS

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Technology Usage Model
For businesses doing > $50 million annual revenue For businesses doing < $50 million annual revenue
Browser based. You only need the internet Data ingestion automation via ETL Browser based. You only need the internet
Contract based Consulting with in-house merchandising experts for POC, Gap Analysis and system outputs Self serve. Pay as you go Customer support is provided with any data uploading issues, bug fixes, feature requests etc.
Performs billions of computations within 2-3 hours of runtime for data processing Performs millions of computations within 10 minutes for data processing
Uses patent pending machine algorithms developed over 3 years of R&D Uses patent pending machine algorithms developed over 3 years of R&D
Smart Assortment Plan
Longtail Correction
Identify and discard highly discounted or longtail data which distorts true demand
Longtail correction at store cluster level Longtail correction at company level
NOOS
Never out of stock products
Core
Bestseller
Bestseller
Product Clustering
A cluster represents a set of similar products. All analysis is done on clusters of products. E.g. victor-shirt-casual-male-lowprice
Clustering done using business attributes (i.e. brand, category, subcategory, gender, mrp_bucket) and 6 product attributes (e.g. color, pattern, fit, sleeves etc.) Clustering at business attributes (i.e. brand, category, subcategory, gender, mrp_bucket)
Optimum Width
How many options to have in each
Calculated at store-cluster level Calculated at company-cluster level
Optimum Depth
How much quantity to buy in each cluster
True demand identified at store+cluster level by analyzing past sales revenue and discounts True demand identified at company+cluster level by analyzing past sales revenue and discounts T
True Size Set
How much quantity to buy for every size in every cluster
Size continuity is maintained (e.g. S, M, L, XL, XXL) Size continuity is not maintained (e.g. system may suggest M, L, XL, XXL), if size S is not selling well
Different size set ratios are predicted for all store+cluster combinations Different size set ratios are predicted for all store+cluster combinations
Pivotal sizes (i.e. most important sizes) predicted for each store Pivotal sizes are not predicted
Other Analysis Considerations The analytics also takes into consideration – recency, seasonality, events and inventory live days (calculated using daily inventory at stores) The analytics also takes into consideration – recency and seasonality
Demand Forecasting
Demand Forecasting Depending upon AOP (Annual Operating Plan), forecasts and demand quantity, options and size-sets for each month+store+cluster combination Depending upon AOP (Annual Operating Plan), forecasts the quantity, options and size-sets for each month+store+cluster combination
Depletion and Retuns Consideration Takes into consideration expected store depletion rate and store returns Not available
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
Distribution
Methodology Creates store-style ranking (i.e. how different styles are performing in different stores) and utilizes that to optimize inventory distribution from warehouse to stores Creates store-cluster ranking (i.e. how different clusters of products are performing in different stores) aand utilizes that to optimize inventory distribution from warehouse to stores
New Season Allocation Yes Yes
In Season Replenishment Replenishes stores based on size continuity Replenises stores based on size availability
In Season Replacement IFinds replacement style from Cluster, if direct style replenishment cannot be done Finds replacement style from Cluster, if direct style replenishment cannot be done
Dead Inventory Pullback Identify non moving dead styles in stores and suggests them for pullback to warehouse Not Available
Inter store transfers Can perform inter-store transfers for highly efficient distribution (based on performance of styles in stores in same region and brokennes) Not Available
New store allocation New stores are handled using similar reference stores Not Available
Multiple Warehouses Handels multiple warehouse allocations Not Available
Business Intelligence
Sales summary at all level Sales summary at different levels – Brand, Channel, Region, Store
Merchandising actionable reports Category performance reports
Style performance reports
Stock to Sales reports
Ageing report Sell-Through reports
Sales trends report
SPSF reports
Category wise comparision reports
Operations reports on target Vs acheivment
Pricing
Contact Us For Pricing Turnover based pricing (Million $). First four months are free in all plans
* Payments accepted via bank transfers against monthly invoice
Annual Turnover Monthly Cost Plan Name
0-10 FREE Trial Room
10-20 $1,999 XS
20-30 $3,999 S
30-40 $5,999 M
40-50 $7,999 L
50+ $9,999 XL
* GST tax invoices are provided upon request. Please contact our Customer Support Portal
* Payments accepted via PayPal