4R, provider of AI-powered inventory and supply chain planning solutions and services launches Vendor Order Optimization (VOO) to create purchasing process efficiencies, increase buyer productivity and maximize profitability.
4R, provider of AI-powered inventory and supply chain planning solutions and services launches Vendor Order Optimization (VOO) to create purchasing process efficiencies, increase buyer productivity and maximize profitability.
Retail buyers are a key part of the retail supply chain and responsible for sourcing and purchasing the products that will be sold. Buying the right amount of merchandise is one of the oldest, most challenging problems retailers face. It can be a hit or miss exercise. Additionally, there is so much data that retailers struggle to sift through it efficiently to reveal what is helpful for more profitable buying.
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Without smart buyers, retailers may struggle to remain profitable or even survive. Vendor Order Optimization is part of the suite of 4R Intelligent Inventory Optimization solutions and is developed to help retailers make better buying decisions. VOO projects inventory that will be needed throughout the supply-chain, uses the projections to optimize orders subject to vendor requirements, and delivers the prepared orders to the buyer to process. With increased visibility into the supply chain and control of the purchasing process through VOO, retailers can reduce excess inventory and improve supply chain efficiency for maximum profit.
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James VanDusen, Director of Analytics at 4R says, “VOO focuses on generating more profit for customers. It does this by accounting for all internal and vendor constraints in its optimization and then directing buyers’ efforts to vendors and locations where immediate orders are most beneficial.”
