RAPS Replenishment is a comprehensive inventory management and order optimization solution that leverages the power of Revionics integrated demand forecasting. The system is highly scalable, serving retailers of all sizes and lines of trade, and is offered on a Software-as-a-Service (SaaS) platform.
RAPS Replenishment can help retailers [image-nocss] find new ways to free up working capital trapped in non-value-adding inventory while simultaneously reducing out-of-stock situations, especially those situations tied to promotional activities, according to the company. Revionics' forecasting science is uniquely qualified to help retailers address both issues because the system accounts for demand-influencing factors such as every-day, promotional and markdown prices, seasonality, holidays, inventory supply and demand, cross-item product relationships, weather, competitor behavior, and more, the company said.
Retailers can expect to benefit from the RAPS Replenishment system with a reduction in store-level inventory by 20-30%, fewer lost sales due to out-of-stock incidents, lower shrink and spoils, while improving stock rotation.
The RAPS Replenishment system includes three primary components: Inventory Management: This component maintains store-level perpetual inventory. It offers a fully integrated receiving system capable of tracking inbound shipments from the warehouse or from direct store delivery (DSD) vendors. The solution also integrates with point-of-sale (POS) systems or back-office systems to monitor sales on either a trickle feed or periodic batch basis. RAPS Replenishment supports physical inventory counting as well as computer-directed cycle counting. Forecasting & Optimization: This component generates optimal order quantities based on integrated forecasting, inventory levels, and a real-time recognition of order status. Order Management: This component produces computer generated orders (CGO) or computer assisted orders (CAO) that allow the user to review and modify order quantities before submission. The system also supports manual order entry through customer-defined order templates. Retailers can consolidate or parse orders to separate vendors, track order status, and manage changes. In addition to the primary components listed above, the solution will enable retailers to manage, automate and optimize the following activities: Allocation from Distribution Centers: Retailers can plan and distribute orders to locations based on that store's ability to effectively sell the product. Vendor Order Optimization: Retailers can "buy in" on expiring promotions or in advance of vendor price increases. The system supports bracket purchasing, always balancing inventory needs with the financial incentive to buy and hold more inventory at store level. RAPS Replenishment can be deployed as a standalone suite or together with the Revionics' price, promotion and markdown optimization modules. It can also be integrated with other third-party modules that a retailer may already have installed.
"This new module is a natural extension and complement to our lifecycle price optimization capabilities. Our role in helping our customers is expanding beyond just defining the right price, promotion or markdown," said Todd P. Michaud, president and CEO of Revionics Inc. "We are now leveraging best-in-class integrated forecasting capabilities to help our retail clients better manage how much inventory they need on hand to satisfy consumer demand."
Revionics Inc., Roseville, Calif., delivers advanced predictive pricing, promotion, markdown and inventory optimization systems to retailers.
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