Optimizing Assortment Planning in Optical Retailing with IoT
Technology Category
- Platform as a Service (PaaS) - Application Development Platforms
- Sensors - Level Sensors
Applicable Industries
- Cement
- Retail
Applicable Functions
- Sales & Marketing
Use Cases
- Retail Store Automation
- Time Sensitive Networking
About The Customer
The customer is a global leader in optical retailing, operating in more than 40 different countries and online. They are committed to delivering high quality and affordable eye care to people around the world. However, their manual and Excel-driven Assortment Planning process was causing them to miss sales opportunities and have sub-optimal assortment. Each country followed its own method of working, leading to a lack of alignment between the global team and the local planners. They were also facing difficulties with planning at both store level assortment capacity and box constraints.
The Challenge
The customer, a global leader in optical retailing, was facing challenges with their highly manual and Excel-driven Assortment Planning process. Each country followed its own method of working, leading to sub-optimal assortment and missed sales opportunities. The local country teams had little to no authority from the global team, resulting in a lack of alignment in terms of assortment selection. The company also experienced difficulties with planning at both store level assortment capacity and box constraints. The processes for managing the pre-season and in-season demand, as well as managing the correct ‘active’ assortment in the old systems were highly manual and often lacked accuracy and precision. This led to significant challenges related to store replenishments.
The Solution
The company adopted o9, a cloud-native platform, to bridge the gap between global teams and local planners, connecting all planning processes for all regions and optimizing assortment decisions. The platform also enabled the company to manage box as well as brand planning and perform analytics to help create the perfect product mix at store level. The o9 Enterprise Knowledge Graph was leveraged to optimize Assortment Planning using a standardized process which connects and aligns the global and local planners. With o9, planners now have the ability to analyze historical data, build assortment strategies, manage store clusters, build store level assortments and perform box level (facings-driven) planning that supports pre-season and in-season planning. The old system, Excel, was replaced with this new solution.
Operational Impact
Quantitative Benefit
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