Brochure: WorkMate Size and Pack OptimizationSource: ITR Software
ITR Software (ITR) has directed its efforts to developing tools that assist in the retailer buying process. Our solutions provide the ability to understand size trend data by analyzing sales data and identifying potential lost sales occurrences caused by incorrect size allocations to the stores. Utilization of our size and pack optimization tools increases the effectiveness of inventory, minimizes markdowns based on size imbalances, and reduces the need for store-to-store transfers. Our Lost Sales detection capability combines product attribute analysis with sales trend data to deliver the opportunity to achieve margins that are not reduced as a byproduct of out of stock conditions.
Recent published reports from retail industry analysts report that “the average retailer could increase same store sales by 3.7% by converting all perceived out-ofstocks into transactions. Specialty soft goods could have the biggest potential win: solving out-of-stocks would boost their same-store sales 7.1%, while department stores would see a 4.2% jump.”
What is WorkMate Size Optimization?
WSO is application software that is designed to provide retailers with the ability to improve the profitability of their merchandise investment through the identification of size selling trends by location and the generation of recommendations as to the purchasing and allocation of sized merchandise.
This approach is based upon the presumption that retail store locations seeded with merchandise assortments that best meet local demand will improve customer service and increase GMROI.