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The New Science of Retailing: How Analytics are Transforming the Supply Chain and Improving Performance

Book Description

Retailers today are drowning in data but lacking in insight: They have huge volumes of information at their disposal. But they're unsure of how to sort through it and use it to make smart decisions. The result? They're struggling with profit-sapping supply chain problems including stock-outs, overstock, and discounting.

It doesn't have to be that way. In The New Science of Retailing, supply chain experts Marshall Fisher and Ananth Raman explain how to use analytics to better manage your inventory for faster turns, fewer discounted offerings, and fatter profit margins.

Featuring case studies of retailing exemplars from around the world, this practical new book shows you how to:

· Mine your sales data to identify "homerun" products you're missing

· Reinvent your forecasting and pricing strategies

· Build end-to-end agility into your supply chain

· Establish incentives that align your supply chain partners behind shared objectives

· Extract maximum value from technologies such as point-of-sale scanners and customer loyalty cards

Highly readable and compelling, The New Science of Retailing is your playbook for turning all that data into a wellspring for new profits and unprecedented efficiency.

Table of Contents

  1. Title Page
  2. Copyright Page
  3. Table of Contents
  4. Acknowledgments
  5. Introduction
  6. CHAPTER ONE - Retail Valuation
    1. How Does Berman Use Inventory Information to Predict Stock Price?
    2. How—in Practice—Do Inventory Levels Affect a Retailer’s Valuation?
    3. Inventory Turns: A Commonly Used Benchmark for Evaluating a Retailer’s Inventory Level
    4. Explaining the Variation in Inventory Turns
    5. Plotting the Future: A Resurgence in the Importance of Inventory Turns
    6. Implications Going Forward for Retail Managers
  7. CHAPTER TWO - Assortment Planning
    1. Current Practice
    2. Real Experiences in Assortment Planning and Localization
    3. Conclusions
  8. CHAPTER THREE - Product Life Cycle Planning
    1. Launch
    2. Other Examples for Improving the Accuracy of Launch Forecasts
    3. Replenishment
    4. Exit
    5. Concluding Thoughts
  9. CHAPTER FOUR - Flexible Supply Chains
    1. A Mystery: Why Are There Such Big Differences in Lead Time Between Retailers?
    2. Flexibility 101: Flexibility and Inflexibility at National Bicycle
    3. Learning from Two Flexibility Champions: World and Zara
    4. Partnering with Suppliers: The Path to Flexibility If You Don’t Own Your Supply Chain
    5. Why Are Many Retailers So Inflexible?
    6. How Much Flexibility Do You Need?
  10. CHAPTER FIVE - Goal Alignment
    1. How Misaligned Incentives Affect Inventory Levels, Fill Rates, Sales, and Profit in a Supply Chain
    2. Some Principles for Aligning Incentives in Operations
    3. Solving Incentive Problems
    4. Conclusion—Some Guiding Principles
  11. CHAPTER SIX - Store-Level Execution
    1. What Most Impacts Sales and Satisfaction?
    2. Putting People First
    3. The Keys to Customers Finding What They Are Looking For
    4. Conclusion
  12. CHAPTER SEVEN - Technological Risk
    1. RFID: An Emerging Technology
    2. RFID Applications Outside of Retailing
    3. Potential Applications in Retailing
    4. Pilot Studies Applying RFID in Retailing
    5. Managing Emerging Technologies: Lessons from RFID and Other Technologies
    6. Conclusion
  13. CHAPTER EIGHT - Companywide Implementation
    1. The Challenges in Implementing and Sustaining Rocket Science Retailing
    2. Tactical Implementations of Rocket Science Retailing
    3. Using Structural and Cultural Changes to Implement Rocket Science Retailing
    4. Conclusion
  14. Conclusion - The Way Forward
  16. Notes
  17. Index
  18. About the Authors