Use the most accurate forecasting software to uncover lost sales, reduce inventories, and increase revenue.
Imagine how much money you would save (and lost sales you would prevent) if you knew exactly what SKUs to stock, how many, and where — to meet expected demand.
This is what Retalon’s demand forecasting solution does.
By combining award-winning retail AI with a deep understanding of the nuances of your specific business, Retalon can help you:
Avoid lost sales, and out-of-stocks, all while reducing markdowns
Increase forecast accuracy, and reduce forecast exceptions
Maintain a well-balanced assortment across your entire business
Connect plans with marketing and merchandising
Discover how accurate demand forecasting will help you run a leaner, more profitable business.
Avoid making last year's mistakes and know exactly where you lost sales.
Outperform projected growth by optimizing your prices based on demand.
Only stock SKUs in locations with demand, eliminating unnecessary overstocking.
Ensure the right products are in the right location at the right time to meet customer demand.
Reduce end-of-seasons markdowns while increasing margins by ordering the exact amount.
Focus on strategic and creative tasks by automating repetitive spreadsheet analysis.
Most retail forecasts are inaccurate because they rely only on historical sales data — they assume that what happened last year will happen this year. This presents two major problems.
First, these forecasts fail to account for everything that’s changed since last year. This means that a traditional forecast can never account for the impact of new products and styles, new vendors, new competitors, moving holidays, changing consumer preferences, or a myriad of other factors.
Second, because these forecasts only account for what sold — by definition, they cannot account for what could have sold. As a result, retailers relying on past sales alone to predict future demand will make the same mistakes they made last year.
Retalon’s demand forecasting software solves these two issues by analyzing past sales, identifying lost sales, and projecting demand into the future while accounting for a myriad of factors:
For this reason, you are able to uncover the true demand for each product at each store.
Retail is a dynamic industry with diverse verticals, supply chain planning approaches, and operational processes. Relying on general ‘data analytics or AI’ firms that don’t specialize in retail often results in lower forecast accuracy, increased exceptions, and the inability to account for critical factors and nuances that influence customer demand for a retail organization.
Retalon offers a flexible platform that configures your specific business processes without long tedious customization. Retailers enjoy high forecast accuracy out of the box.
Retalon is the world’s 1st unified predictive analytics and AI platform designed for the retail industry. We empower retailers to forecast demand with superior accuracy because we live and breathe retail.
Unlike generalized AI and analytics solutions, Retalon accounts for many of the key factors influencing demand. Here is a partial list of variables our solution accounts for:
All Retalon solutions are powered by our advanced demand forecast:
Often executed at a category level a financial plan serves as a reference point and the source for other plans. This plan provides all the necessary functionality to build a long term budget, forecast of sales, GM, turns and other important KPIs. Users are able to review and approve numbers across multiple levels of a management hierarchy to setup financial goals for the next year or a few seasons.
This Plan is based on a long term forecast of demand, and utilizes all the knowledge Retalon’s predictive analytics engine has generated on past sales (including lost sales, promotions, price changes, seasonality, trends, etc) to help users plan future sales, inventory levels, and receipts. This plan is a highly flexible module which enables users to plan sales, markdown and Inventory (or other metrics) by attributes, as well as plan inventory at cost by merchandise type (e.g. Old/New/Current/Running) and much more.
One of the most challenging plans to create is an assortment plan that determines how many units of each Style/Color to purchase, and which stores they should go to and in what quantities. Retalon’s Assortment Planning module powered by a highly accurate demand forecast helps you optimize your assortment.
This module allows users to plan optimal initial pre-allocation quantities, accounting for actual need of each location, plan-o-gram restrictions, desired assortment, inventory availability, and business rules
This plan type allows users to monitor all applicable metrics in-season, compare them with actual weekly performance, and adjust as necessary.
Retalon allows users to build an Open-to-Buy plan at Cost, and create purchase orders based on user defined purchase schedule
Retalon’s Optimal Purchaser & Order Management solution generates optimal suggested quantities based on a highly accurate demand forecast, and allows users to prioritize orders and account for variety of constrains & restrictions. An easy & smart approach that supports multi-echelon, vendor-to-DC, vendor-to-store replenishment, and much more.
Optimize allocation across your entire omni-channel retail business with one click. Retalon’s Smart Allocation solution automatically accounts for performance of each product/location, desired assortment distribution, existing terminal stock, and a wide range of other business-specific factors such as size patterns, MINs, and case/pack requirements.
Retalon’s Auto-Replenishment system automatically determines shipment quantities and allocates products to locations within an organizational hierarchy. An executed future demand forecast is a prerequisite for the Allocation & Replenishment system to run successfully.
Retalon’s predictive analytics engine analyzes every single influencing factor of a retail supply chain, and recommends the optimal inter-store transfer schedule to move merchandise from stores where it is collecting dust on the shelf to stores where the same products are out-of-stock and in high demand. proactively.
Retalon offers a full suite of tools that allows users to cluster (group) products and stores either dynamically or based on static criteria. Users can define which products can be replenished at which locations, and set & maintain minimums at either the SKU or higher than SKU levels, as well as manage space and capacities by type (e.g. hanging, liner feet).
Retalon’s Price Management & Optimization module enables retailers to set initial prices, maintain optimal prices throughout the product life cycle, automatically adjust product families to price changes, and more. The system intelligently accounts for many factors such as competitive data, product cannibalization, promotions & events as well as any policies, business rules, or constraints set by the user.
Retalon’s Markdown Optimization Module monitors a range of critical variables such as current levels of inventory, sales velocity, past & future events, compares projected performance with business goals/objectives, and uses a set of rules and triggers to automatically recommend optimal price adjustments.
Retalon’s Events & Promotions module identifies the true effect of past promotions, and empowers retailers to run successful promotions in the future. Know the best time for a promo, set optimal promotional prices, choose the most effective media types, and more.