LEAFIO announces an Assortment Management software solution for Retailers and the CPG sector, enabling businesses to optimize product offerings and boost sales.
The LEAFIO AI Retail Solutions team is excited and proud to announce the release of the Assortment Performance solution that will help our clients achieve a new level of excellence in retail, distribution and manufacturing management.
With dozens of successful projects in various industries under our belt, we have gained not only experience in supply chain optimization but also the pains that our customers and partners constantly face.
Thus, we identified the most frequent challenges faced by our clients in the assortment management sphere:
– Lack of ability to adapt quickly to an ever-changing market;
– Missed sales due to insufficient control of product availability in stores;
– Frequent intuition-guided decision-making;
– Lack of a unified standard and centralized approach to analytical data;
– Lack of time to address strategic issues;
– Lack of transparency in reporting can lead to distorted data perception.
– These problems can be easily solved by systematic assortment management based on deep analytics and with the help of modern algorithms.
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“Our cloud solution can be an external module in any accounting system that will dramatically speed up decision-making. You will be able to get the analytics you need in two clicks. The main point of the system is to give the business as much time as possible for the assortment management strategy and do fewer unnecessary routines,” says Alex Medwin, CEO of LEAFIO Inc.
LEAFIO Assortment Performance offers users a range of tools and benefits that work effectively with even the widest assortment in a highly variable and unpredictable environment.
1. Insights generated by advanced algorithms
The system constantly analyzes category changes and their results. Based on these, LEAFIO Assortment Performance offers qualitative improvements that will help you work more effectively with your assortment.
2. Strategic assortment vision
Users can create their category management and development strategy and regularly compare it to the results in LEAFIO Assortment Performance. The personal assistant will highlight what should be focused on to achieve these set goals.
3. Automatic store cluster creation and analysis
This solution has an intelligent automatic store clustering function that uses system algorithms. And users can adjust them easily and quickly if needed. Different categories can have their own store consolidation logic, and all this combined will influence the final assortment of each store. The system will take into account not only sales but also average check-ups, layout specifics and many other factors. The user can also group stores manually based on the desired parameters. Thus, you can track the overall performance of the specific stores and quickly track the availability of each SKU there according to the store’s assortment matrix.
4. Building a holistic assortment management business process
A complete set of LEAFIO tools allows the category manager to organize the assortment management process in a category, considering such stages as planning, analysis, adjustment and optimization.
5. Diving into all category levels for data-driven decision making
A category manager can take a deep dive into every detail of their category and determine which SKUs are underperforming, how new products sell, which SKUs are missing from which stores, and much more. The system can also identify top-movers, traffic and turnover generators, or high-status products. All this information can be used for analytics and informed decision-making.
6. Advanced in-depth analytics
The system contains quite a number of useful reports, which imply the right focus on working with the assortment, for which the category manager is responsible. You can flexibly customize all the reports and get insights in just a few clicks and quickly react to problems, surges/declines in sales, revenues and profits.
With the help of reports, you can analyze and control in detail:
– suppliers’ statistics;
– SKUs that are candidates for withdrawal from the assortment;
– sales of new assortment items;
– remains in stores and warehouses, where it will be clear-cut in each store what the current balance is and its belonging to the assortment matrix;
– missed sales;
– identified/unidentified customers;
– and many other things that are related to the daily work of category managers in advanced companies.
If a category or SKU has potential for improvement, the system will always show you what to focus on.
7. User-friendly and intuitive interface
With LEAFIO Assortment Performance, all decision-makers will have quick access to visually comprehensible sales and category status data.
“Assortment Performance is a new level of transparency for the commercial departments of retail companies, distributors and manufacturers. Flexibility in customization makes the solution accessible to small businesses and large corporations equally.”
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