Stay in Sync
To stay in sync with their retail partners, our clients must develop a production forecast. The level of support varies retailer by retailer. The Total Retail analytics team has developed our own retailer-specific forecast tools to help ensure an accurate forecast. We have used this tool in conjunction with the retailer Planning and Replenishment teams to find mistakes and help manage production and inventory to keep factories optimized, costs low, and obsolete inventory from building up.
The Total Retail Group approach to forecasting starts with the view of the consumer, what will they buy and when. Our system automatically accounts for promotions and the lift from off-shelf placement and lower pricing. It also takes into account inventory in the channel and in client warehouses to translate the end-demand to a production and shipment forecast.
By developing a forecast in parallel to the retailer, we very frequently find mistakes and omissions in the retailer’s forecast that are likely to cause the retailer to significantly underorder. Total Retail’s knowledge of the retailers’ systems allows us to collaborate with the Replenishment team to adjust forecasts and parameters to quickly address the situation.
Hear it for Yourself
“The market research from Premium was absolutely essential to our successful launch at retail. Not only did it help us refine our approach to the market including pricing and packaging, the data was critical in convincing the merchant to move forward.”