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