Optimizing Retail Operations: Quantzig’s Assortment Strategies

Optimizing Retail Operations: Quantzig’s Assortment Strategies

  1. High Carry-Over Volume: Excessive unsold inventory from prior seasons tied up capital and led to markdowns, impacting profitability.
  2. Frequent Stockouts: Inadequate inventory levels for popular sizes resulted in dissatisfied customers, missed opportunities, and reduced trust and loyalty.
  3. High Inventory Holding Costs: Maintaining large inventories incurred substantial costs, diminishing overall profitability.

Solutions: Quantzig’s assortment optimization solutions addressed these challenges effectively:

  1. Planogram Simulation and Optimization Tool: This tool optimized store layouts and product placements to maximize sales while minimizing carrying costs.
  2. AI-Driven Category Assortment Planner: Advanced AI algorithms optimized product categories to align with customer preferences and local demand.
  3. SKU Rationalization and New Product Margin Rationalization Models: These models streamlined product offerings, reduced excess inventory, and improved margins on new products.

Results: Quantzig’s assortment optimization strategies transformed the client’s retail operations:

  • Reduced Carry-Over Inventory: Excessive unsold inventory and markdowns were minimized, enhancing profitability.
  • Improved Inventory Management: Adequate inventory levels for popular sizes reduced stockouts, improving customer satisfaction and loyalty.
  • Lowered Holding Costs: Optimized inventory reduced storage, insurance, and operational expenses, boosting profitability.
  • Enhanced Sales and Margins: Improved product placements and category optimization resulted in increased sales and higher margins.

Quantzig’s expertise in assortment optimization empowered the client to overcome retail challenges, improving profitability and customer satisfaction.

To read the full resource, click here.

About Quantzig: Quantzig is a global data analytics and advisory firm with a strong presence in the US, UK, Canada, China, and India. We provide advanced analytics, business intelligence solutions, and data-driven insights to organizations across industries, helping them make informed decisions.

SOURCE Quantzig

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