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In today's challenging economy, companies have little margin for error. They need to optimize their supply chains and inventory levels, without risking lost sales due to out-of-stocks. Additionally, consumers demand shopping flexibility but expect consistent execution regardless of their purchase method. To be effective today, a supply chain forecasting and replenishment solution needs to give businesses control over a vast network of paths between stores, distribution centers and vendors.
Along with advances to its industry-leading forecasting, replenishment and allocation capabilities, Teradata Demand Chain Management enables companies to optimize ever-shifting inventory levels for complex "omni-channel" supply chains. Inventory levels are optimized and demand is synchronized throughout the supply chain, from point of purchase up to the vendor.
"The ability to better forecast product needs, and to replenish according to customer shopping patterns, enables us to optimize our inventory flow and is an important factor in controlling inventory costs at the LCBO (Liquor Control Board of
Hugh Kelly, senior vice president, Information Technology. "Teradata Demand Chain Management continues to be a key component in our supply chain process, and the additional features, such as new product introduction and event forecasting in the latest version, will further enhance our ability to serve LCBO's customers effectively."
According to the 5
th annual Merchandising Benchmark Report (
August 2012) from Retail Systems Research (RSR), which provides insight into business and technology challenges facing the extended retail industry: "While out-of-stocks and inventory performance remain top-of-mind (particularly for large retailers and those who sell fast moving goods), retailers' concerns about understanding customer preferences -- and their own ability to respond to those preferences with new ideas about pricing and promotions -- have become their top business challenges."
A critical component to making this successful is being able to make sure that product is available.