NEW YORK CITY — January 11, 2019 — NRF 2019 – Retail’s Big Show, Booth #1125 – Lucky Brand will share its experience working with Celect to optimize inventories at NRF 2019: Retail’s Big Show in a session titled, “How Lucky Brand Optimized Allocation and Store Fulfillment With Advanced Analytics.”
“As we diversify Lucky Brand’s denim apparel roots to manage a vibrant collection of lifestyle products, we are aggressively growing our multi-channel distribution network and building a complex e-commerce network,” noted Mike Relich, COO, Lucky Brand. “We view optimizing inventories as a key component to improving profitability; working with Celect has allowed us to deliver better margins, increase service levels and improve inventory turnover.”
On Monday, January 14 at 4 p.m. in Expo Hall Level 3, Stage 6, Lucky Brand COO Mike Relich and Celect executives will discuss:
- Why previous allocation and fulfillment processes were inefficient and the need to integrate disparate processes;
- How Lucky Brand was able to rethink style allocation and predict localized demand;
- Ways Lucky Brand changed its fulfillment approach to pull inventory from slow-turn stores and speed order delivery; and
- The operational impact of inventory optimization — avoiding markdowns, minimizing sellouts, increasing full-price sales and maximizing gross margins.
“We had high expectations for Celect and have been absolutely floored by the results. Our team readily embraced the new system and has been able to work smarter and faster than ever before,” added Relich. “We can now not only confidently predict which styles should go to which stores and put our inventory in the right place, but also readily pull from stores for order fulfillment while avoiding out-of-stocks and excess inventory. Our stores have even been providing extremely positive feedback about how using Celect has improved dynamic inventory replenishment for their customers.”
Celect, a market leader in predictive analytics and inventory optimization, helps retailers overcome longstanding inventory obstacles while driving revenue and improving the shopper experience. With the Celect Inventory Optimization Suite, Lucky Brand has been able to make accurate demand predictions that optimize retail inventories throughout the entire product lifecycle—from reducing markdowns and increasing full-price sell through, to improving in-store conversions and minimizing stockouts.
“It is time for retailers to eliminate inventory guesswork so they can make better, more profitable merchandising, allocation and fulfillment decisions. Celect empowers technology-savvy retailers like Lucky Brand to predict future buying patterns and boost their bottom-line – both online and in-store,” noted Celect CEO John Andrews, who will join the session at NRF.
Posted January 11, 2019
Source: Celect
