With Slimstock's inventory management solution, Slim4, fashion retailers become better positioned to manage their inventory more effectively. Through automatically identifying seasonality and trends as well as utilising Slim4's accurate statistics-based forecasting capability, the inventory management solution makes it possible for fashion retailers to dynamically determine the optimal stock level for every location.
How can you ensure that items are allocated to each location effectively? In fashion retail, ensuring that the right assortment is available at the right location is the key to success. However, how can you determine what items and sizing profiles will sell best in each store while still leaving sufficient inventory levels to fulfill demand from the webshop(s)?
In practice, when it comes to managing the assortment, it can be very difficult to make the right decision. However, through using our unique software solution, fashion retailers can optimise their sizing profiles in order to ensure that the assortment is effectively allocated across both physical stores and the webshop(s). With help from Slim4, retailers can more effectively manage items which should never be out of stock as well as those which form part of a seasonal collection.
"Unfortunately your size is no longer in stock": in order to avoid disappointing customers, this is something which should simply never be said in any of your stores. Given that holding too much stock may result in high levels of mark-downs at the end of the season, how can you avoid going out of stock without leaving the business exposed to excess stock?
Slim4 ensures that the right items, right sizes and right colours are available at the right locations. This in turn allows fashion retailers to ensure that the assortment is allocated in a timely manner, promotions are managed more effectively as well as avoiding lost sales through stocks-outs: all while guaranteeing customers receive a high service level.
Ensuring stock levels are healthy at the start of a sale is essential in order to minimise mark-down and thus maximise the net margin. However, when an item is running low, how can you determine how much stock should be made available in the physical stores and how much should be reserved for the webshop(s)? Through using our inventory optimisation tool, Slim4, fashion retailers can effectively prevent out of stocks from occurring through ensuing that the last remaining items are allocated to the right location. This in turn enables you to better manage shortages and thus maximise margins.