Fashion retailer New Look has just gone live with an inventory optimisation implementation designed in the first phase to streamline the replenishment of stock to its 600 stores.
The High Street fashion retailer has invested in the new software to bolt onto its existing Oracle retail merchandising system and increase stock availability in-store, while reducing the amount of inventory held, for better profit management.
New Look's new 'Q' system from supply chain systems provider Quantum Retail Technology uses various performance data feeds about supply and demand in the fashion retailer's high product turnover business to more accurately help the business match stock to demand.
"We recognised that Quantum Retail's demand forecast model offered us an opportunity for our customers to further influence our decision-making," said Adrian Thompson, New Look Director of IT.
"It's innovative science allowed us to continue to support our fast fashion model with speedy and accurate decisions based on our latest sales and stock figures."
Thompson added that the business case for the Q system would help address stock imbalances, reduced numbers of markdowns and improved service levels.
"Put simply, Quantum Retail is able to more accurately reflect where our customers would like the product and at what level. It effectively bridges the gap between planning and execution," he said.
