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From the beginnings of commerce, promotion has been vital to retailers. Amidst increasing technology sophistication, the right promotions strategy can increase brand loyalty, accelerate buying decisions, attract new customers, move excess inventory, and increase the average value of sales transactions. And you can’t promote what you can’t supply so managing inventory replenishment is key.
For Globus CR, keeping a focused eye on these two areas is essential to their supply chain management strategy. With promotion shares very high and labor costs significantly increasing recently, they took a strategic look at how to reduce high planning and handling costs and realized the root cause was costly manual processes and high leftover stocks after promotions. To future proof the business and remain resilient they looked to partner with Blue Yonder.
Market landscape is extremely promotion and price driven. Manual and cumbersome promotion planning processes. High promotion leftover stocks fill backroom storages. Increasing labor costs driving need for automation.
Many retailers are looking to leverage the power of machine learning in their forecasting, planning and replenishment processes. With Blue Yonder Demand Edge, Globus CR was able to develop highly accurate forecasts that go beyond traditional deterministic forecasting algorithms by including hundreds of additional demand influencers.
Results were realized in a sustainable manner with a 20% reduction in out-of-stocks during promotion, 40% reduction of promotion leftovers, and significant automation of promotion planning and replenishment processes. Globus CR successfully moved from a store-based manual promotion process to a future-proof centralized and automated process to achieve greater value and serve their customers more effectively.
The Globus and Blue Yonder joint team were particularly focused on managing the changes resulting from ML-driven automation and, in parallel, tracking the relevant KPI improvements. Working hand in hand, both organizations relentlessly drove a successful adoption.
Solution Benefits
Comprehensive forecasting with increased accuracy for decision making. Improved data quality, data processes, technical and business processes. Centralized and automated store-based promotion process.
Blue Yonder’s Expertise
Blue Yonder is the leading provider of SaaS-based, end-to-end, integrated retail and supply chain planning and execution capabilities for more than 4,000 customers worldwide. Our unique capabilities empower our clients to achieve more by optimizing costs, increasing revenue and reducing time to value so they can always deliver on their customer promises.
