InTRANSFER

Take a Proactive Approach to Rebalance Inventory
Across Locations

Invent’s inter-store transfer optimization system InTransfer 
offers an integrated solution to the costly problem of transferring inventory between stores to minimize the inventory imbalance across the store network. Retailers can minimize lost sales and increase inventory productivity by moving products from slower stores to locations where the same product has been selling at a faster pace. Optimal transferring of products within the network is a complex problem as the number of potential transfers can be overwhelmingly large depending on the number of source and destination stores. InTransfer creates a profit maximizing transfer plan with a sophisticated optimization model, which identifies transfer pairs with highest revenue impact and lowest transfer costs.

ACCURATE FORECASTING

InTransfer generates demand forecasts for every single SKU at each location given the sales history.

Big Data In addition to historical sales data, Transfer utilizes publicly available data (such as weather forecasts) and customer-specific data such as marketing calendar and product features.

Product Segmentation Segment your products by volume, demand and lifecycle stage and manage its forecasting and replenishment tailored for each segment.

Lost Sales Correction Monitors and reports lost sales and stock-outs; incorporates this information into demand forecasting for more accurate estimates of future demand.

Promotions and Seasonality Transfer analyzes how different promotion types affect SKU/store pairs and adjusts estimates of future demand accordingly. The system determines product seasonality footprint and reacts accordingly in order to increase accuracy of future-demand.

Robust Forecasting Transfer generates demand forecast at SKU/store level while taking care of outlier detections and effects of one-time events for robust and reliable forecasts. System learns from its past performance and improves its accuracy every day.

 

INTER-STORE TRANSFER OPTIMIZATION

InTransfer determines for each product the potential sources and the destination stores, i.e., the stores that have a low probability of selling that product and those with a higher chance of selling a product. The system computes the expected benefit of each transfer pair and solves for the optimal transfer plan to achieve maximum sales lift with minimum logistics cost.

Customized Solution System features are customized to fit the unique needs and business rules of each retailer.

Data-driven store selection The system suggests source and destination stores automatically based on sales and inventory performance for each product.

Smart transfers Minimizes excess logistics costs by consolidating transfers across products to source-destination store pairs by minimizing the number of shipments and the total shipping costs.

Integration with Replenishment Replenishment Solution Invent DR.X and InTransfer are an integrated solution. Transfers between stores can potentially be optimal even when there is some inventory at the warehouse.

 

LIVE SCIENTIFIC TESTS AND CONTINUOUS LEARNING

InTransfer implementation results are tested using Invent’s proprietary testing methodology. Fully controlled scientific experiments are conducted to measure the impact of InTransfer on net profit and other KPIs and compare it with the legacy system. The forecasting and optimization algorithms continuously learn from system performance and tailor the system parameters by location, product, and customer to create maximum impact.

INTRANSFER CHECKLIST

  • • Optimized inventory for maximum profit
  • • Higher sales
  • • Lower average stocks
  • • Lower markdowns
  • • Higher GMROI
  • • Higher inventory turnover
  • • Fewer expired products
  • • A simpler workflow to enable companies to deploy consistent strategy across categories and business units

SYSTEM FEATURES

Cloud InTransfer leverages cloud for agility, flexibility and return on investment. InTransfer requires no IT investment and is offered as a pay-as-you go plan.

Smart Reports on Tableau InTransfer provides the users with customizable Tableau reports on product’s lifecycle to monitor performance and provide insight.

Compatible InTransfer can be integrated with all ERP systems seamlessly. The user interface can be accessed from any HTML5 compatible device.