Nisum Helps Save 10% in Inventory Costs with Improved Supply Chain Visibility

By Nisum
 

 

Results:
New supply chain features improved inventory flow, resulting in:

  • +50 basis points increase in sales
  • ~30% decrease in data-related costs 
  • 2x improvement in customer experience using Net Promoter Score and Customer Satisfaction

Business Challenge:
A Fortune 500 retail client had no real-time visibility to track the fulfillment process and online out-of-stock inventory that was available in store but unavailable for shipping, and they also had increased technology costs associated with stores opening and closing, leading to:

  • Loss of revenue
  • Frustrated customers from poor customer experience
  • Increased inventory management costs 
  • Increased data related costs with opening new stores instead of re-opening existing stores

Approach/Solution:
Nisum implemented multiple features in the supply chain, achieved by:

  • Building a near-real-time end-to-end supply chain view focused on estimating the inventory demand across all digital and physical retail touchpoints, using:
    • Power BI (a tool used to create reports and dashboards) for the view UI and Spring Boot and Azure SQL database on the backend, along with Azure tools
  • Providing customers with an alternate option when items are out of stock by analyzing the data of each day
  • Providing better inventory visibility and management to identify the right products to be stocked at the right store at the right time period
  • Re-using the operational location numbers of the closed stores to another location without breaking online, retail, and Omni BI applications (reads, analyzes, and reports multi-channel data)

Feel free to contact us for more information on how Nisum can drive results for your company.

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