Supply chain software provider ToolsGroup aims to help retailers plan and optimize sourcing and stock with the ToolsGroup Localized Assortment Planning and Allocation solution. Mi9 Retail Demand Management, which became part of ToolsGroup in November 2021, offers additional assortment planning and dynamic allocation capabilities.
ToolsGroup’s solutions aim to help retailers by:
- Improving overall selling price or margin: The solution is designed to enable retailers to more accurately forecast demand and more precisely target discounts to move inventory, increase brand awareness and combat competitive pricing challenges;
- Reducing lost sales due to inaccurate allocation planning: ToolsGroup’s allocation capabilities aim to help planners more accurately project sales trends and distribute inventory among fulfillment points based on historical sales data, store demographics and other factors to increase revenue and profit by reducing out-of-stocks; and
- Lowering inventory costs for seasonal and fashion items: One of the solution’s goals is to equip buyers to forecast and distribute the right mix of products to the appropriate stores more accurately, reducing the cost of inventory on hand and related inventory carrying costs.
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