Leading Electronics RetailerBack
Multi-channel electronics retailer in the UK with a physical store base of over 200 stores, high SKU volumes and broad assortment.
The Exam Question
The key priority was to provide the buying and merchandising function in the business with actionable insights to support trading decisions.
We were given the task to develop and deliver better quality management information (MI), planning and forecasting capabilities, with the primary goal of giving the business control over its margin, sales, stock and intake.
What We Did
To enable this trading capability we designed, built and deployed core merchandising processes and supporting tools in 3 months, including: pre-season merchandise planning, in-season planning & forecasting (WSSIs), Core Line forecasting and MI Reporting to support planning & trading.
The key outcomes from delivering these tools were: improved stock management & open to buy (OTB) control, enhanced capability to drive profitability, reporting to drive better trading decision making, and full ‘roll up’ of business key metrics – sales, stock & margin, to read the overall ‘health’ of the business.
How Does It Apply to Other Companies?
A common challenge our clients experience is ensuring adequate stock control, with the stock held in the business gradually growing over time. If retailers are not armed with the necessary tools to appropriately plan and trade the business, having true visibility and control is difficult.
The set of tools delivered in this case are at the heart of how many retailers operate and provide a platform to build an internal merchandising capability.
Why Thought Provoking Consulting?
We provide thought leadership in planning and merchandising, our consultants have decades of experience working at all levels of buying and merchandising functions, across multiple retail models.
This, coupled with our capability for designing and delivering retail processes and tools in a rapid and agile way gives us a unique blend of skills to partner with retailers seeking to develop in this area.