7thOnline drives optimal localized assortments with CMM Version 3.0
7thOnline Inc., a leading provider of assortment planning and optimization solutions to the retail industry, launched 7thOnline Continuous Merchandise Management (CMM) Version 3.0, a suite of solutions that enables retailers to effectively plan, execute, and track optimal localized assortments.
In order to maximize profitability, retailers must deliver the right styles, colors, sizes and quantities of merchandise to each store to match local demand. They must continuously reevaluate this merchandise mix as demand and supply factors change. This entails not only intelligent historical performance assessment but also accurate forecasting of what lies ahead.
This is no small feat considering the volume, complexity, and inaccessibility of relevant data as well as the fast-paced nature of the business. Merchants need a way to interpret dynamic demand, supply, and planning information in real-time, and from a single access point.
7thOnline addresses these challenges with 7thOnline CMM, a suite of solutions encompassing visual and analytical assortment planning, in-season merchandise management, order execution, and powerful optimization, forecasting, and collaboration engines.
With the visibility and decision support provided, merchants are able to perform their art of producing optimal assortments driven by current trends, historical performance, financial plans, local demand patterns, and supply constraints.Management can be confident that strategic and financial objectives are met and that they are investing in a merchandise mix that maximizes profit potential.
7thOnline CMM solutions and services can be implemented individually or as an integrated package, depending on business requirements:
Retail Assortment Planning
Build and analyze optimized assortment plans – styles, colors, sizes, and quantities by store – to meet local demand and satisfy business objectives. The system enables the merchant to intelligently seed assortments based on defined drivers, historical performance and product/location attributes.
Retail Assortment Execution
Execute assortment plans from product selection through order placement, supported by comprehensive industry-specific reporting. Collaborate both internally and with trading partners on product data and assortment plans.
Retail In-Season Assortment Management
Track in-season performance (actual and forecasted) vs. plan in one integrated solution.
7thOnline Optimization Services
Determine profit-maximizing assortments for each store with proven optimization engines for sizing, floor space, distribution, and assortment breadth and depth.
"7thOnline CMM enables merchants to work more intelligently and efficiently at each stage of localized planning and execution, from plan creation through ordering through in-season tracking and forecasting. The solutions provide the number crunching and intelligent recommendations so that the merchant can focus on their art," stated Max Ma, CEO of 7thOnline.
"We incorporated input from a number of industry-leading retailers to ensure process compatibility, user-friendliness and end-user adoption," stated Peter Grimando, VP Sales & Services at 7thOnline. "Additionally, the solutions can be implemented with a phased approach as business needs dictate, essentially shortening time-to-benefit and lowering risk."