Regional Sales Executive
CurrentThe fashion market is dynamic and fast-moving, the uncertainties and higher complexity challenges all of us - while everything gets less predictable. Many events and problems in the world filter into the fashion industry and make it difficult when it comes to the flow of merchandise.Teams need to mitigate risks that impact business and adapt to the changes.At the same time the number of influencing factors on merchandising decisions is exploding, there are too many to consider, and this cannot be managed in traditional ways. It can no longer be handled by humans only.While this is happening, many businesses are making these decisions around merchandising flow (pricing and allocating stock) on very traditional, out-of-date ways:• Gut work and pure intuition - this isn't reflective of how fast-moving the fashion industry is.• Lack of influencing factors - the number of influencing factors is exploding and cannot be handled in traditional ways (these might include original price, cost, sales price, markdown, time of day, channel, placement, seasonality, material, competitors, inventory, weather, traffic, events, promotions, holidays etc)• Manual spreadsheets - handling this for 1000s of SKUs is error prone and time consuming. Many businesses might know the price, and the price of competitors for a handful of key products, and which channel is the most popular for that item, but knowing the optimal price and inventory level for 1000s of products across various collections is too difficult.• Limited price and inventory optimization - without taking influencing factors into account, price too high and alienate customers, too low and lose out on money or order too deep for products that might not sell that well or under order popular items. Without Al tools there is no way to gather insights for 1000s of product SKUs and mountains of data. It only allows teams to be reactive but not to make strategic business decisions.
