Boomerang Commerce shows new LPM app at ShopTalk

27 Mar '17

2 min read

Boomerang Commerce, the leading retail performance management solution provider, has released its new Lifecycle Performance Management application (LPM) at the recent ShopTalk retail event in Las Vegas, in booth 624. LPM gives customer performance data, blended with external market data, to predict future challenges and forecast demand and performance.

Utilising artificial intelligence, LPM recommends actions to mitigate performance risks and lets merchants and planners see the predicted outcome of their actions. As a result, retailers are able to increase sales, drive profitability, and improve sell-through.

Merchant planners are under increasing pressure to hit aggressive sales targets without sacrificing margins. This requires more accurate forecasting, optimal inventory allocations, and optimal timing of markdown prices. Boomerang’s LPM application leverages machine learning to monitor performance, inventory levels, and competitors to identify opportunities to improve performance and mitigate risk weeks before they become larger problems. The system saves significant time in analysis, prevents last-minute fire drills, and minimises opportunity cost due to ineffective actions.

The application’s features include digital merchant assistant, which constantly analyses catalogue, performance, and market data to guide planners with suggested actions to drive higher footfall, greater online traffic and increased sell-through while optimising for improved margins.

This solution identifies opportunities and risks that planners can address before they turn into performance problems, guides product lifecycle decision making at the cadence of merchant operations, recommends multiple decision options to illustrate tradeoffs between various performance metrics, and offers a streamlined user interface that is designed for merchants and planners.

The app also provides forecasts and simulations for store and online channels to help planners drive revenue and margin performance across the lifecycles of their products, achieve optimal sell-through against their plan, and foresee inventory and allocation issues before they happen.

Designed to make a planner’s life better, Boomerang has created the first machine learning-enabled merchant assistant to help planners focus their efforts on actions that can positively impact the business or avert performance issues before they strike across the entire product lifecycle.

Fibre2Fashion News Desk – India

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