Our living standards are tailored to each of us, so that we can walk and create our own paths. There is no “one size fits all” method when it comes to how we live. We look at ourselves, we look at our significant other, we look at our neighbor and even a colleague of ours. However, everyone is looking for change.
That same theory still applies today, especially in supply chain management, especially when we are talking about fashion, which is the tangible barometer that tells us where we are in life and what is happening in the world around us.
Fashion is the revealing compass that allows us to know in which direction we are heading as a global society, and behind this curve it is never ideal. This goes for both the consumer and the retailer, as important for the latter. As a retailer, you want to have complete control over public demand. Public demand is the measure for you, as a retailer, to understand not only what is needed in your store, but also how much is needed. Both factors are equally important, both are dependent on each other, but it is understanding and knowing what and how to refuel.
DDR: the technology to supply on demand
Unfortunately, “forecasting” cannot come close to being able to capture data for retailers to continue to move products. For a very unstable industry such as fashion, it is imperative to adapt to a style / procedure that gives you the precision needed to understand how to refuel correctly. This is where DDR becomes real.
DDR is “Demand Driven Replanishmente”. Obtain true information that is not just factual, but proven, and use that information to assess exactly what is needed for the retailer.
The goal for this is to ensure that the retailer never has to worry about sales and / or excess inventory. Since this method is highly dependent and guarantees accuracy, the best practice to be followed with this would be artificial intelligence. Our world has been and continues to advance in a direction that celebrates progress and advancement; as stated earlier, fashion is the direct connection to symbolize the trajectory where we are going as a society.
Combining our progression with fashion, technology is the perfect X factor for these two entities to work well together. The DDR artificial intelligence concept is what makes this a strong reality.
The DDR aims to define what consumer behavior is or is changing. If it is changing, how much is it changing? While there is consistency in adjusting inventory according to this behavior, we can guarantee that the value of the promotion will be reduced, as we can guarantee that the customer will find what he is looking for. This is great for the customer and incredible for the retailer; ensuring that everyone involved is on the right side of change.
And Neogrid has this technology. Want to know better? Click on the banner below.
Author: Maurice D. Proffit