CHALLENGE: Modernize Internal Planning and Fulfillment Systems at 130-Year Old Company
Belk, a leading retail department store with almost 300 stores and an online storefront wanted to build a predictive analytics capability to ultimately yield accurate financial forecasts, allowing merchandisers to plan future product purchases and allocate the appropriate amount of product to each store.
SOLUTION: Integrated Forecasting Solution (IFS)
Prognos, an Antuit company, leveraged its proprietary Integrated Forecasting Solution (IFS). When integrated with Belk's ERP and other planning system, IFS was able to:
- Generate an accurate enterprise demand signal feeding into all business functions
- Account for seasonality, promotions, events and other relevant variables
- Drive improved planning and fulfillment at the SKU level across the entire organization
Outcome: Improved Topline Growth and Gross Margin
With the predictive insights from Prognos’ IFS solution, Belk can now accurately forecast, plan and manage inventory in a way that contributes more dollars to the bottom line.