SPS Commerce

“Performing a unit-based rather than dollar-based analysis will ensure the appropriate stock levels are forecasted to meet the demand.” 💭 Insights from the experts! The quieter summer months are the perfect time to prepare for the upcoming busy holiday season. Utilizing data analytics helps identify trends, anticipate demand and optimize inventory levels to ensure readiness for peak shopping seasons. We asked Alison from our retail intelligence team for her expert advice on which data points to focus on to meet retailer demand and avoid stockouts during this critical time. “The most important data to analyze is the historical unit sales and unit inventory levels over the last three years for the same period. Performing a unit-based rather than dollar-based analysis will ensure the appropriate stock levels are forecasted to meet the demand. Breaking it down into week-over-week sales and inventory positions to understand the sales curves is important, along with determining the optimal flow of inventory receipts during the season. Identify any stock-out situations during those historical periods that need to be accounted for in the forecasts for the coming season. Creating a top-line unit-based sales forecast is key to capturing that total picture by averaging the sales over the last three years to smooth things over. The final rub is calibrating it up or down based on the current sales trends. If sales are up 20% versus last year, then apply a 20% lift to your forecasts. This will ensure the risk of lost sales is minimized.” Alison Tribus, Sr. Retail Intel Manager 💡 The takeaway? Data analytics are a must to make sure you have the right products, in the right place, at the right time. How are you preparing for the holiday season?

At SPS, we know that data fuels everything omnichannel, and the industry is taking note! Supply Chain Brain just posted an article from Nick Swalbach, Director of Product Management on #TeamSPS, detailing how data can drive experiences that customers will come back to again and again. Check out the link to learn more! https://bit.ly/3zMeiPi

🥇✅Last week we asked you about key priorities for the upcoming holiday rush, and the results are in! An overwhelming 56% of respondents said inventory and demand forecasting is top of mind, and if that was your answer too, there’s more to consider: 📈 If you’re not using historical data to forecast, you should be. 💻What tools are you using to ensure forecast efficiency? ❓What types of data are you using to forecast? 🤔 Do you trust the data you’re using? Need more tips to stay on top of what’s next? Check out our latest blog or connect with one of our experts now! ⬇️

Supply chain disruptions: usually a supplier’s worst nightmare. But what if the next one wasn’t so bad? 🌟 Here’s a hint: it’s better to be proactive than reactive. While you can’t control the future, you can prepare for it. With deeper insights, suppliers can gain a better understanding of what’s coming down the line and get prepared ahead of time. Dive into our recent blog to learn our tactics for a better outcome, no matter the disruption. Link in the comments!

💡Automation can lead to better employee retention. Wondering how that’s possible? Let us explain: In the supply chain industry, employees are often responsible for completing repetitive and tedious tasks around order entry and fulfillment. When these tasks take up most of the day, they’re unable to focus on their more strategic, growth-building tasks. What happens next? Burnout. Suppliers can’t expect their employees to stick around when the work feels menial and overwhelming. Read our article with Supply Chain Dive’s studio ID to learn how an automated solution makes it easier for employees to focus on more strategic tasks, leading to higher levels of retention. ⬇️ Link in the comments!

Today's brands face the challenge of managing multiple sales channels, from retail to eCommerce to marketplace and more. Juggling an omnichannel strategy doesn't have to feel overwhelming! With seamless EDI integration, you can manage all your sales channels in one place—your ERP system. This means simplified operations, greater efficiency and more time to focus on growing your business.

📦🚚 As Q3 begins, 3PLs are ramping up for the holiday rush. We're curious to know what you're prioritizing for a smooth and successful season.  Vote and share your insights in the comments! ⬇️ 

The event may be over, but we're still buzzing with excitement from our Analytics User Group 2024! We were thrilled to welcome representatives from 28 brands who joined us for two days filled with insightful group discussions, engaging customer panels and one-on-one chats with our experts. Together, we explored how to get the most value out of the SPS Analytics solution, learning innovative techniques and discovering new ways to leverage data for better insights, greater efficiency and increased confidence. One attendee perfectly captured the spirit of the day: "Being here helped me realize there is a lot available that I am not using to help make informed decisions about our business. Attending the user group this year has been the most insightful experience, and I am excited to dive deeper into my company’s business." Thank you to everyone who attended and contributed to making this event a huge success. Stay tuned for more exciting events in the future!!

Find out how SPS Commerce uses artificial intelligence to enhance retail supply chains and provide value-added service to customers – from generating demand forecasts to persona-based marketing. Check out the full Digital Commerce 360 article at the link in the comments! ⬇️

From all of us at #TeamSPS, have a happy and safe 4th of July! 🎆🎇🎉