Retailers today are drowning in data but lacking in insight: They have huge volumes of information at their disposal. But they're unsure of how to sort through it and use it to make smart decisions. The result? They're struggling with profit-sapping supply chain problems including stock-outs, overstock, and discounting. It doesn't have to be that way. In The New Science of Retailing, supply chain experts Marshall Fisher and Ananth Raman explain how to use analytics to better manage your inventory for faster turns, fewer discounted offerings, and fatter profit margins.
Featuring case studies of retailing exemplars from around the world, this practical new book shows you how to: * Mine your sales data to identify "homerun" products you're missing * Reinvent your forecasting and pricing strategies * Build end-to-end agility into your supply chain * Establish incentives that align your supply chain partners behind shared objectives * Extract maximum value from technologies such as point-of-sale scanners and customer loyalty cards Highly readable and compelling, The New Science of Retailing is your playbook for turning all that data into a wellspring for new profits and unprecedented efficiency.
Marshall Fisher is the UPS Professor of Operations and Information Management at the Wharton School of 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 the Harvard Business School and specializes in supply chain management. They cofounded 4R Systems, Inc., which provides analytic services and software to retail supply chains.
Introduction 1. Retail Valuation: How Investors Value Product Availability and Inventory Management 2. Product Life Cycle Planning: How to Reinvent Forecasting, Inventory Optimization, and Markdown Pricing 3. Assortment Planning: Mining Sales Data to Discover 'Homerun' Products You are Missing 4. Flexible Supply Chains: How to Design for Greater Agility End to End 5. Reducing Perverse Incentive Misalignment in Supply Chains 6. Store Level Execution: Increasing Sales Through Better Availability of Products and Store Associates 7. Company-Wide Implementation: Managerial Issues Affecting Implementation 8. Technological Risk: How Retailers Should Assess and Manage Emerging Technologies Conclusions