ToolsGroup® Announces JustEnough® Real-Time Retail, the Only Retail Planning and Execution Solution That Responds to Shopping Behavior in the Moment
Boston, MA and New York, NY - NRF 2023 Retail's Big Show
|
January 16, 2023 07:00 AM Eastern Standard Time
ToolsGroup, a global leader in retail and supply chain planning optimization software, today announced the launch of Real-Time Retail, the only retail planning and execution solution that leverages up-to-the minute supply and demand data to respond faster and more effectively to changes in the marketplace in order to lower inventory, ensure product availability, and improve customer satisfaction across channels.
“Over the past 24 months, many retailers were caught between the dual forces of fast changes in consumer demand and supply chain disruptions. Being able to pivot quickly prevents unplanned discounting and margin erosion,” noted Inna Kuznetsova, CEO of ToolsGroup. “Leaders in the retail space understand the value of moving from static to dynamic planning and require a new generation of planning and execution technology to respond to changes faster. We’re excited to launch a new era in retail planning, one that will benefit consumers, businesses, and even the environment by leveraging AI-powered capabilities coupled with real-time data to put the customer first without sacrificing profitability.”
Real-Time Retail connects the JustEnough planning and execution solution with Inventory Hub® - a dynamic data unification platform – to collect near-live data from siloed systems and serve that information immediately to Allocation, Replenishment and Fulfillment applications to:
- Track events and changes to inventory across selling channels
- Serve information to planning applications in real-time
- Evaluate the impact of these events and changes
- Respond by adjusting where inventory is placed or fulfilled
Allocation and Replenishment leverages real-time Inventory Hub data to evaluate the impact of each supply and demand event on the inventory plan and automatically recalculates and recommends purchase and allocation orders and transfers giving retailers the power to respond immediately to changing market dynamics.
Dynamic Fulfillment, integrated with third party OMS systems, leverages Inventory Hub data for better store-based fulfillment. With real-time supply, demand, and operational intelligence, it adjusts according to store demand and distribution center or store capacity. For example, the system calculates the impact of a return on real-world inventory costs and performance, based on the item’s location and demand. It then adapts fulfillment strategies to compensate for out of balance inventory, lowering fulfillment costs and reducing markdowns.
Real-Time Retail enables companies to:
- Plan and execute at web speed, anticipating and reacting to changes in shopper behavior instantaneously
- Navigate and adapt to market changes while properly allocating resources and working capital
- Eliminate excess inventory, reducing waste and minimizing environmental impact
- Improve cash flow and profitability
Adds Kuznetsova, “The payoff of such a system has the power to transform the future of global retail supply chains, enabling companies to adopt unified commerce models and improve customer experiences.”
ToolsGroup’s innovative AI-powered solutions enable retailers, manufacturers, and distributors to navigate through supply chain uncertainty. Our retail and supply chain planning suites empower a new level of intelligent decision making, and unlock powerful business improvements in forecast accuracy, service levels, and inventory - delighting customers and achieving financial and ESG KPIs. Stay in touch with ToolsGroup on LinkedIn, Twitter, YouTube, or visit www.toolsgroup.com.
Contact Details
Meir Kahtan
+1 917-864-0800
Company Website
