Businesses involved in the retail industry understand the importance of meeting consumer demands at the right place, time and quantity. And one of the biggest challenges that most retailers face is buying the right amount of merchandise. This is where merchandise planning comes in.
With smart software solutions available in the market, retailers can calculate and set budgets, track sales, develop purchasing plans based on real-time data, and improve customer buying experiences.
What is Maventic’s Retail Merchandising Planning Suite?
It is a SAP Analytics Cloud (SAC) based rapid deployment solution that provides comprehensive end-to-end strategic and operational planning for retail, wholesale, and digital businesses.
It integrates and facilitates channel level planning, geographical level planning, merchandise /article level planning, and Open-To-Buy (OTB) processes like budgeting, purchase planning, and inventory management.
With its cloud-based planning prowess, businesses can access a centralized repository for all planning activities that enables fast reconciliation of strategic plans with very little manual effort involved.
How can it help your business in merchandise planning?
Maventic’s Retail Merchandising Planning Suite breaks down planning into 4 broad categories through its planning workbooks to help businesses easily get an overview of their merchandising strategy.
1. Channel-level planning
This workbook enables top-level management to set strategic plans for the next three years at the channel level. It allows decision makers to analyze and create long-term plans across multiple channels like retail, bulk, B2B and E-commerce.
2. Geographical-level planning
Country-level managers can utilize this workbook to strategize and plan at a geographic level. They can develop tailored strategies for each region depending on where the retailer operates from. Businesses with an international presence can easily account for regional differences and preferences while planning.
3. Product hierarchy-level planning
Through this workbook, store-level managers can create store and brand specific strategies that include factors like local customer preferences, demographics, and performance metrics to ensure planning at a granular level.
4. OTB and Inventory planning
The Open-to-Buy (OTB) planning process helps businesses calculate the amount of additional merchandise needed as per current consumer demands while factoring in the desired inventory levels or budget constraints.
Access to inventory reports assists businesses in providing real-time data on managing inventory levels, which helps them make informed decisions on OTB planning.
Features of Maventic’s Retail Merchandising Planning Suite
- Comprehensive summary dashboard - Provides your business with crucial KPIs for a holistic overview of your organization's vital metrics, catering to both top-level management & middle-level managements
- Data and version management - Users can create public and private versions based on categories like forecast, budget, planning, and actual. It also supports the maintenance, creation and deletion of different versions across the planning tree.
- SAP integration - Our solution can seamlessly integrate data from various source systems such as SAP S/4HANA, SAP CAR, etc.
- Powered by SAC’s AI & ML tools - The planning workbooks also incorporate SAC’s built-in AI & ML capabilities for in-depth & self-service analytics and forecasting, enabling users to make data-driven decisions and optimize strategies effectively.
- Granular Planning - Allows detailed and precise financial planning at every organizational level & supports both top-down & bottom-up planning approaches.
Why choose Maventic’s Retail Merchandising Planning Suite?
With 70+ analytics experts who have worked across 20+ SAC projects, 10+ Non-SAP projects and 5+ Datasphere projects we offer analytics services covering multiple platforms including SAP ERP, CRM, SCM, CAR, and Non-SAP Data Sources.
We can help your business in implementation, support services, performance optimization ,and audit processes.
