20 Oct Shane Co. Increases Sales by 20% While Significantly Reducing Inventory
Shane Co. increases sales by 20% while significantly reducing inventory
New York, NY (PRWEB) October 20, 2014
Retalon, a leading provider of retail predictive analytics solutions, announces that Shane Co., the largest privately owned jewelry retailer in America, has implemented Retalon’s Inventory and Assortment Management solution to maintain product assortment and inventory levels across all channels.
“Shane Co.’s business is very complex. We have thousands of jewelry products and loose gemstones that all have a unique SKU number,” said Tom Shane, the Chairman of Shane Co. “Retalon helps us manage them more quickly and accurately than we ever could before.”
Using Retalon, Shane Co. has been able to reduce one of its main product lines by 40 percent, while also increasing sales in that same product line by 20 percent. Shane Co.’s previous process required cumbersome data analysis, taking more than a month to complete. Using Retalon’s predictive analytics solutions, Shane Co. was able to rebalance all of its merchandise in just 15 minutes.
After the initial success with implementation of Retalon Inventory Management system, Shane Co. has added the Retalon’s Assortment Diversification solution to its portfolio.
“It’s crucial for us to maintain accurate inventory levels and balanced assortment throughout all of our channels, from distribution centers to stores and e-commerce,” said Patrick Laufenburger, director of business intelligence and merchandising systems at Shane Co. “Retalon’s unique approach to omnichannel retailing allows us to optimize every step of our business process with a global perspective, from purchasing to allocation, replenishment and inter-store balancing.”
Retalon’s Assortment Diversification solution is part of the integrated platform designed to effectively manage inventory, build executable merchandise and assortment plans and optimize price and markdown strategies for retail businesses.
“We are thrilled to be working with a very creative and innovative team at Shane Co. There is nothing better than the right tool in the right hands,” said Retalon CEO Mark Krupnik. “This is the kind of result retailers can expect when their vision and business processes are supported by advanced predictive analytics.”
Retalon is a leading provider of Predictive Analytics solutions for supply chain, inventory management, pricing, merchandising, planning and marketing operations. Retalon products range from task-oriented solutions to a common analytic platform, resulting in tangible optimization of the supply chain and significant measurable benefits for the entire organization. Since 2002, Retalon has empowered retail businesses with advanced analytics that uncover hidden opportunities, and significantly increase bottom and top lines.
About Shane Co.
Shane Co. is the largest privately held jeweler in the United States. The Denver, Colorado-based company is a direct importer of diamonds, rubies, sapphires and pearls, and operates in 13 states, as well as an online store at http://shaneco.com. Shane Co. is recognized in the industry as a value leader offering the finest array of customer benefits, including a Free Lifetime Warranty and a 60-day Money-Back Guarantee.
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- 30 August, 2019