USA: Payless ShoeSource Manages Seasonal Merchandise With i2
Payless is one of North America's largest family footwear retailers and maintains an average of 800 different footwear styles and colours. But because most of its shoes are seasonal, the company needed a solution designed to quickly plan for and react to changing demand, allowing it to maximise revenue and achieve margin and clearance objectives.
To meet this need, Payless purchased i2 Demand Planner from the company's Supply Chain Management suite, and i2 Markdown Optimizer from i2 - Customer Relationship Management solutions.
i2 Demand Planner is designed to allow Payless to predict, manage and optimise future demand. This solution creates forecasts based on rate of sale and on-hand inventory. The information is then integrated into i2 Markdown Optimizer, which has been developed to examine product sales and inventory positions and determine the optimal markdown schedules for maximising revenues and minimising inventory write-offs. i2 Markdown Optimizer incorporates price elasticity of demand into the optimisation and supports what-if analysis to evaluate alternative markdown strategies.
Said Darrel Pavelka, senior vice president, merchandise planning and distribution, Payless ShoeSource: "Our current i2 solution, Merchandise Planning, is a critical part of our overall strategy for improving assortments in our stores. We anticipate that by expanding to Demand Planner and Markdown Optimizer, we will be able to derive significant value from the integration of i2's merchandising optimisation tools."
Payless believes that with these solutions in place, the company can impact margins and better meet customer demand for its products. It anticipates that the global implementation will be completed in the second quarter of 2002.
Companies: Payless ShoeSource Inc
Help test our new apparel sourcing tool.
Payless ShoeSource is launching a designer footwear collection, designed by Laura Poretzky, which will be unveiled at New York Fashion Week....
Footwear retailer Payless ShoeSource plans to open a second product replenishment facility in the western US....
The following is a general roundup of apparel and shoe chains' November sales results. The list will be updated as new results become available....
Family footwear retailer Payless ShoeSource said better sales and favourable pricing boosted its third-quarter profit to $21.9 million compared to earnings of $6.6m last year....
The following is a general roundup of apparel and shoe chains' October sales results. The list will be updated as new results become available....
The following is a general roundup of apparel and shoe chains' September sales results. The list will be updated as new results become available....
The following is a general roundup of apparel and shoe chains' July sales results. The list will be updated as new results become available....
Specialty family footwear retailer Payless ShoeSource Inc has completed its previously announced senior management succession....
- US apparel sector braces for potential cost hikes
- Trade Tracker – Trump's first weeks, Brexit agenda
- Vietnam grows share of US apparel imports in 2016
- Key trade issues facing US textiles and apparel
- Does a hard Brexit mean hard times for UK fashion?
- Bangladesh "high threat" for terrorist activity
- VF Corp sees Q4 and FY earnings tumble
- Sales at US clothing retailers jumped in January
- Ralph Lauren new execs to support Way Forward Plan
- US Q4 in brief – VF Corp, Kate Spade, Rocky Brands
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Outdoor performance apparel 2016: A broader perspective
- Technical textile markets: product developments and innovations, December 2016
- Global market review of lingerie – forecasts to 2022
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar