You will be familiar with it. Your merchandiser sends as much stock as possible to the stores, so that as little as possible stays behind in the distribution centre or warehouse. Unfortunately, this often means that you have to redistribute your stock later.
Smart Supply does not immediately send all stock from the distribution centre to the stores. After an initial allocation, the software uses an algorithm to determine the highest sales potential per SKU (Stock Keeping Unit) for each location. The stock will be distributed to the stores at which the demand for the product is the greatest.
Not one-on-one replenishment but a dynamic process. This means that you improve your product availability, increase your profit margin, reduce excess inventory and have fewer missed sales. But how does Smart Supply work? Find out below.
Stock optimisation software for the cosmetics industry
Do you work in a cosmetics store or for a cosmetics brand? Do you have missed sales on a regular basis, despite a well-stocked warehouse? Then your complex stock management process may not be optimal. Stock management is often the responsibility of a supply chain manager or of store staff. But is it really possible to manage this complex process manually yourself?
Automation in cosmetics stores
As in the fashion and sports industries, the cosmetics industry works with different sizes. Perfume comes in bottles of 30, 60 or 75 ml, and nail polish from different brands also comes in different colours and sizes. This makes it difficult to keep track of stock levels and decide when new stock is needed, particularly because you are dealing with different variables as well as different stores. Special campaigns during the Christmas sales or special Mother's Day vouchers make things even more complicated. With this in mind, it would be wise to automate and optimise the process.
Smart Supply: allocation and replenishment
Smart Supply stock optimisation software specialises in the allocation and replenishment of cosmetics products. The software's algorithm determines which item goes to which store and in which quantities. This means that the software takes difficult decisions for you. The 'seasonal trends module' and 'event planning module' make stock management during campaigns a lot easier. This significantly reduces the chance of mistakes, while also leaving your staff more time to provide customer service. Curious about the possibilities? Read all about Smart Supply.