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Retail Technology, Retail technology News

Torex packages up merchandise planning tools

Thursday January 14 2010

Three separate modules launched, designed offer retailer a simple, low-cost way of adding new functions, says the retail IT vendor  

Three separate modules launched, designed offer retailer a simple, low-cost way of adding new functions, says the retail IT vendor

 

At the National Retail Federation’s (NRF) Annual Convention & Expo, held this week in New York, Torex has announced the availability of its merchandise planning systems as three individual packages.

 

It said that retailers looking to benefit from the features offered by merchandise planning can now opt for one or more of the following packs: In-season Weekly Stock, Sales & Intake (WSSI) re-forecasting; Pre-season planning & clustering; and Assortment planning.

 

The Torex Merchandise Planning packaged solution has been designed to make it easier for retailers to implement the features that will benefit their business the most. The smaller size of each implementation means that retailers are now able to expand their merchandising functions without having to commit the same level of time, money and resources as with previous deployments.

 

Each module can now be deployed in the space of four to five months, allowing retailers to see a quicker return on investment. The lower costs involved also reduce the risk and cost of ownership for retailers.

 

Taking the pain of merchandising IT deployment

 

The three merchandise planning packages enable retailers to introduce best-practice business processes into their operations. With years of experience helping fashion retailers improve their merchandising systems, Torex said it has been able to incorporate many of these advancements into the solution. Pre-season planning and Assortment planning can help retailers develop an effective trend strategy, determining which stock to allocate to particular types of store and the necessary quantities required. Additionally, the In-season WSSI forecasting package provides an ongoing analysis of stock, sales and intake to help optimise the availability of items in-store, whilst reducing the costs associated with handling excess stock.

 

Torex said the merchandise planning modules have been successfully implemented by a number of fashion retailers, including Slaters, Conbipel and L-Fashion. Charlie Brophy, head of merchandising at Slater Menswear commented: “With the speed of information we get with Torex Merchandise Planning, Slaters have been able to increase stock turns, plan their intakes better and ultimately allow the stores to look better.”

 

Charlotte Kula-Przezwanski, enterprise product manager at Torex added: “By offering Torex Merchandise Planning in a modular format, we hope to make it as easy as possible for retailers to improve their merchandising processes. We know that it can sometimes be a difficult decision for a retailer to commit to a full-scale systems upgrade. With the Merchandise Planning packaged solution, the risk involved in the implementation stage is significantly decreased, and the reduced time-frame for deployment enables stores to begin seeing the benefits and return-on-investment much earlier.”