The New Science Of Retailing: How Analytics Are Transforming The Supply Chain And Improving Performance

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How to use Retail Analytics for Breakthrough Inventory Management Inventory. It is every retailer's nightmare. Carry too much, and you're left with unwanted surpluses and margin-killing markdowns. Carry too little, and you face stockouts, missed sales, and unhappy customers who end up shopping elsewhere. Worst of all, you know that the key to resolving your supply and demand dilemma is buried in the reams of consumer transaction data your business collects. The question is: how do you find it? In The New Science of Retailing, supply chain experts Marshall Fisher and Ananth Raman show you how. Drawing on cutting-edge retail analytics, the authors outline a practical approach to inventorymanagement that leads to faster returns, fewer discounted offerings, and fatter profit margins. They share field-tested techniques that remove much of the guesswork that has dominated retail buying decisions, and enable retailers to look at data in specific ways to better understand and deliver what customers want, when and where they want it. Featuring use studies of retailing organizations from around the world, The New Science of Retailing will help you: Mine your sales data to identify"home run" products you are missing Identify which products your customers want and what they are willing to pay for them Improve store-level execution by putting the right product in the right place at the right time Create a flexible supply chain with all partners aligned behind shared objectives Benchmark your firm's performance against other retailers Assess and manage emerging technologies including RFID tags, point-of-sale scanners, and more Fisher and Raman show that even small improvements in matching supply with demand can literally double a retailer's profit. Whether you sell shoes or cell phones, toys or office supplies, this game-changing guide is your playbook for transforming mountains of customer data into a gold mine of profits. About The Author Marshall Fisher is the UPS Professor of Operations and Information Management at the Wharton School at the University of Pennsylvania and codirector of the Fishman- Davidson Center for Service and Operations Management. Ananth Raman is UPS Foundation Professor of Business Administration at Harvard Business School. Table Of Contents Acknowledgments Introduction 1. Retail Valuation How Investors Value Product Availability and Inventory Management 2. Assortment Planning Mining Sales Data to Discover "Home Run Products You Are Missing 3. Product Life Cycle Planning How to Reinvent Forecasting, Inventory Optimization, and Markdown Pricing - 4. Flexible Supply Chains How to Design for Greater Agility End to End 5. Goal Alignment Reducing Perverse Incentive Misalignment 6. Store-Level Execution Increasing Sales Through Better Availability of Products and Starr Associates Technological Risk How Retailers Should Assess and Manage Emerging Technologies Companywide Implementation Managerial Issues Affecting implementation Conclusion 215 The Way Forward Appendix Notes Index

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