This fall, Quick Assortment AB received funding from the European Union to develop a prototype for a revolutionairy forecasting software for online business.
We are right now working hard to get a prototype ready for beginning next year. We will keep you up to date on progress and share some screenshots and ideas here soon!
What is Shelf Planner?
Shelf Planner is an automated forecasting and prediction engine that recommends how much to order for all products for every day of the week.
How does it work?
Shelf Planner uses historical data, planned campaigns and events and consumer spending behavior to generate a forecast that is maximizing profit and stock levels.
What are the predictions most ideal for?
Although the logic works on a wide variety of industries, the immediate benefits can be seen in Apparel and Fashion products, consumer goods, but also Food and Beverages that are highly perishable.
Why is Shelf Planner better than a human decision?
In most cases, store owners do not have all the information they need to make the right decision.
Moreover, even when the data is present, it can be overwhelming and requires complex forecasting models.
Shelf Planner eliminates the need to sift through all the data, it generates a clear forecast and order proposal.
Why do sales go up?
Understock situations lead to missed sales opportunities.
Because Shelf Planner uses a so called ‘ideal stock’, based on a more accurate sales forecast, Out of Stock situations are reduced and sales increases.
Why do profits go up?
Overstock situation will ultimately lead to forced markdown and clearances, which is weighing heavy on the net margin.
By reducing overstock situations, sell through at full price increases and also net margin improves.