quovera > industries > retail





"Best Buy Shines in a Dim Retail Market" -
Through its partnership with Quovera, Best Buy is able to respond to capricious consumer demand.

"Much of its success during the quarter can be attributed to its increased investment in market research and inventory controls. In a trendy market such as consumer electronics, rapid response time to changing trends can make or break a quarter. Best Buy's efforts have dramatically improved its inventory turns, and this helps minimize losses from marked-down goods." Megan Barnett, TheStandard.com, April 3, 2001

Business objectives:

  • Improve demand planning and forecasting for replenishing BestBuy.com warehouse inventory
  • Increase in-stock service levels while also increasing inventory turn
  • More customer "ship-complete" orders

As a result of Quovera's participation in installing a demand and replenishment planning packaged solution, Best Buy:

  • Forecasts consumer demand at the SKU level with increased accuracy
  • Responds quickly to changing trends and adjusts warehouse reorders
  • Eased the implementation and speeded new process adoption through change management, training and support
  • Achieved all of its business objectives for the project

 







A rise in customer expectations, the increase in the value of brands, the explosion of technology, … Powerful market forces have been dramatically re-shaping the Retail and Apparel landscape.

Add manufacturing collaboration, the proliferation of global sales and service channels, mergers, acquisitions and consolidations and the retail world looks like a very different place.

While the bottom lines of some organizations have taken a big hit during these turbulent times, others have been able to capitalize and drive increased sales, profits and expansion. What are these top companies doing to ensure superior performance today and continued growth and profitability tomorrow?

  • Improving Integration with Suppliers
  • Executing Consistently Across Multiple Channels
  • Fully Leveraging Brand Strength
  • Effective Pricing & Liquidation
  • Accurately Measuring Performance

Top Retail Issues

Tight and Smart Inventory Management
In the past, it was enough to know what was where and how much was selling. Today's top retailers use advanced inventory management systems to manage their suppliers, optimize markdowns and make just-in-time allocation and replenishment decisions. And they don't tie up excessive capital in inventory.

Business Intelligence to Drive Intelligent Decisions
Your systems have plenty of customer, inventory and sales data, but that data is valuable only if you use it to make smarter and faster business decisions. By using data for business intelligence, you can spot emerging trends across all channels and react to them quickly enough to impact the bottom line.

Instant and Consistent Customer Data
To identify customers and treat them consistently, your front-line people need access to "single view" profiles with detailed information about current status, past activity and more. If your information is housed in "silos," you're limiting your ability to cement relationships.

Using Collaboration and Technology to Control Your World
The best companies are leveraging technology to overcome incompatibility and increase collaboration on a global scale.

Leveraging Emerging Technologies
Web availability. Self-checkout. Intelligent in-store Wireless systems - All of these technologies have the potential to increase sales, customer satisfaction and profitably. Only if you define a clear strategy, select the right technologies and implement them using best practices will you maximize your investment and optimize your opportunity.


No matter what aspect of retail industry you specialize in… no matter where you are in your growth cycle… Quovera has experience with your particular business challenges.


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