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Boyner case study - How invent.ai’s transfer optimization solution helped increase sales by 5%

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Invent.ai helped Boyner, a leading department store retailer, transform its business with store & DC replenishment and transfer optimization. Invent.ai empowered the retailer to increase in-stock availability and sell-through, reduce out-of-stock and ultimately boost sales.

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Boyner is a large department store chain serving its customers with large multi-brand department stores in various retailing concepts. Boyner’s department stores houses hundreds of brands and various product lines. The range of products Boyner offers - including its own labels - range from cutting-edge fashion, jewelry, accessories, and cosmetics to home decoration.
 

“Better inventory management, flexibility, and adaptability will be essential in a customer-centric future. Invent.ai's strong support and innovation are critical in maintaining our competitive edge in a rapidly shifting environment. By focusing our efforts on creating measurable financial impact, invent.ai walks with us on the path to delivering significant value today and tomorrow.”

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Eren Camurdan, General Manager, Boyner

The goal of improving inventory optimization capabilities

Boyner aimed to maximize inventory turns and availability with profit-optimized inventory decisions. To bring this goal to life, Boyner needed to enhance its ability to forecast Store-SKU level demand more accurately and replenish in a profit-optimal manner.

However, due to working with hundreds of global brands and having a multi-brand operating model, Boyner has different unique constraints to its business dynamics. 

For example, long-horizon buy plans, long lead times for repeat orders, and large store capacities require Boyner to have high initial allocation quantities. Thus, Boyner also wanted to increase its inventory productivity by rebalancing the inventory across locations with Store & DC Transfer Optimization. The company wanted to be highly proactive and optimize store transfers to prevent overstock, lost sales and unnecessary markdowns. These goals were the key driver in the company's decision to move to more data-driven inventory planning processes and implement more sophisticated replenishment and transfer optimization technologies.

boyner store as part of transfer optimization

Why did Boyner select invent.ai?

AI and advanced planning capabilities I Tailor-fit solutions I Continuous support

To maintain the company’s position as a leading department store retailer and better meet its customers’ demands for product availability, Boyner decided to leverage the power of AI and data to enhance its inventory management capabilities. For this transformational inventory optimization project, the retailer selected invent.ai based on its technological expertise and advanced scientific know-how in the retail industry.

“We wanted to work with a solution provider that can add value by bringing advanced capabilities,” explains Eren Camurdan, General Manager at Boyner. “Invent.ai was the only company that provided a tailor-fit solution that would adapt to our changing business needs. Their deep analytics capabilities and the collaborative approach to delivering value hold the key to fulfilling our expectations to the fullest.”

How invent.ai helped Boyner take dynamic inventory optimization to the next level

One key element of Boyner’s customer-centric approach was to ensure customers could find the products they wanted and have the right sizes available for immediate purchase. This core need is integral to the invent.ai AI-Decisioning Platform. As such, Boyner first deployed invent.ai Replenishment and fully automated processes at all its stores. The robust solution helped Boyner position inventory smartly and reduce overall lost sales.

“Before invent.ai, our old transfer planning system wasn’t effectively rebalancing inventory across locations for maximum efficiency. Our goal was to make better decisions on moving products from underperforming locations to other locations where demand is higher.”

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Arda Sirin, Supply Chain & Merchandising Planning Director, Boyner


The Results

Invent.ai delivered new capabilities for Boyner in four key areas in just four months.

1. Enhanced replenishment capabilities

“Invent.ai dramatically simplified a very complex process for us. Today, replenishment is just an email that we receive every morning from invent.ai,” says Arda Sirin. “The solution empowered us to increase inventory turns and improve in-store availability in a very short time.”

2. Faster transfer decisions minimized lost sales

Before the rollout of Transfer Optimization, it would take Boyner a couple of days to make the transfer decisions. By creating an optimum transfer plan using a profit-maximizing optimization model, invent.ai enabled the retailer to make the transfers within an hour. Accurate transfer orders help Boyner consolidate the right inventory at the right stores. This new process minimizes lost sales and markdown losses by reducing broken assortment and creating efficiency by transferring inventory from stores approaching season-end to stores that are still in high season.

3. Store-to-store transfers based on the probability of sales at Store-SKU-week level

With invent.ai, Boyner can address the costly problem of transferring inventory between stores while still focusing on increasing profitability.

Today, the comprehensive Transfer Optimization solution behind the profit-maximizing transfer plan identifies transfer pairs with the highest revenue impact and lowest transfer costs. By moving products from underperforming stores to locations where the same product sells faster, Boyner achieves maximum sales uplift with minimum logistics and operational costs.

4. Achieving 4.8% incremental sales with Transfer Optimization

Redesigned and streamlined transfer optimization has contributed to a 4.8% increase in Boyner’s sales. Arda Sirin from Boyner says, “With invent.ai's Transfer Optimization solution, we’ve seen a significant increase in turnover. Invent.ai helped us reach beyond optimizing KPIs to boosting our financial performance.”

 

Providing continuous support every day

Throughout this transformational project, the invent.ai team understood the challenges Boyner faced and applied proven methodologies and advanced capabilities in inventory optimization to work for them. Invent.ai is working hand-in-hand with Boyner to accurately understand its changing needs and build solutions to take the retailer’s business forward.

“In the customer-centric future, the requirements for better inventory management, flexibility and adaptability will increase. For us, the strong support and innovation from invent.ai play a critical role in maintaining our competitive edge in a rapidly shifting environment.” says Eren Camurdan from Boyner. “By focusing our efforts to create measurable financial impact, invent.ai walks with us on the path of delivering significant value today and tomorrow.”

You might also be interested in reading Academy Sports + Outdoors Drives Profitable Growth with invent.ai.

Ready to learn more?
Read our case studies to learn how we've helped our clients profit-optimize their inventory planning and stay at the top of the ever-changing retail industry. Get in touch with an invent.ai team member to continue the conversation.