Create a consistent, integrated view of product data
Managing product information with static systems is a big expense. Multi-database-dependent processes create errors with widespread duplicate item creation. Retailers require a single referential system for their product information.
With the Merchandising and Product Management solution, retailers can have a trusted, central repository of information that synthesizes market, product, and financial data. With this level of visibility, you can accurately analyze your results and use tangible data when planning merchandising strategies.
What IBM offers
The Merchandising and Product Management solution contains integrated applications and projects in these essential retail areas. Select your highest priority projects and add others as you need them.
Merchandise Financial Planning
Collaborative planning for finance and merchandising teams to break down the overall sales and gross profit plan into successively smaller allocations. Establish sales and gross margin targets. Create a detailed merchandise assortment and allocation that supports the financial allocations.
Monitor sales and gross profits for multiple divisions and channels. Plan for the impact of markdowns, returns, and promotions. Evaluate true merchandise performance by analyzing planned versus actual sales by division, category, or channel.
Master Product Information Management
Optimize product information management with a master data strategy and a central repository of product information. Keep product information in sync to prioritize new opportunities.
Advanced Predictive Analytics
Predictive analysis automatically lets you present product combinations that customers are most likely to buy.
Increase variety in your assortments, localize assortments, and make tactical substitutions based on the customer that shop in your store.
Provide consumers with the products they want, when they want them while effectively managing inventory and gross margins.
Initial Price Optimization
Build consumer demand models based on shopper purchase history to understand the underlying drivers of demand and set initial price.
Optimize the timing and depth of markdowns by chain, zone or store location.
Promotion Price Optimization
Understand the real effects of price changes and chose the best promotional tactics to set appropriate promotional prices.
Promotional Planning and Management
Increase sales and customer satisfaction by planning and synchronizing the rollout of promotions to store and online channels.
Benefits of the Merchandising and Product Management solution
Smarter retail success story – Data synchronization of a global company
Data quality was a major challenge for Carrefour, a global supermarket retailer headquartered in France. To maintain competitiveness, Carrefour needed to consolidate product information in a standardized way to increase their data quality and improve the results of data analysis. Using IBM WebSphere software products for data synchronization, Carrefour reduced costs and improved employee productivity. The benefits of high-quality data also affect other areas such as customer service, customer loyalty, better management of channel relationships, and increased collaboration with suppliers.
IBM builds the key requirements of smarter retailing into the IBM Retail Industry Framework to help you achieve your business imperatives:
Key software for Merchandising and Product Management
IBM has proven enterprise software products for Merchandising and Product Management, which are used by leading retailers worldwide:
To learn more about how IBM Retail Industry solutions can help your business grow, contact your IBM representative or IBM Business Partner.
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