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We have some fresh-of-the-press updates in Madden Analytics coming your way. Analyzing and following up on your inventory planning and replenishment will never be the same!
We have introduced a new tab in the Planning module where you can analyze your purchase plan before committing POs.
With Purchase Analysis, you can easily visualize how your purchase plan is distributed across categories, collections, departments, etc, in regard to style count, average price, depth of purchase, and other key metrics. It also provides valuable insights into how these metrics compare with your historical purchasing data.
This feature helps you determine whether the purchase plan aligns with your overall assortment strategy and ambitions, which is crucial information to have before committing your POs to your suppliers.
Although you may plan your POs for the brand as a whole, you may still prefer to split up the PO deliveries to your different warehouses or stores to minimize the number of internal orders. In the Purchase Order module in Madden, you can now make a data-driven initial allocation with a few clicks. Click Edit info, select what locations should get allocation, and we will calculate a suggested allocation that takes a wide range of parameters into account.
We have recently improved the Follow-Up tab in Planning to make it easier to continuously track your sales performance against the plans you’ve set up. This upgrade enables you to quickly identify which items are over-performing or under-performing so that you can proactively adjust your plans and make informed decisions.
There is now a Changelog feature in the Planning module. This log will display your past activities, allowing you to review which logic was applied and when the most recent update took place. With this feature, you can easily track and verify changes made to your plans.
We have improved the flexibility of stock re-allocation and re-stocks by grouping allocations according to the source and destination warehouses. Now you can easily toggle allocation options and edit recommended quantities directly within the interface. Once fine-tuned, you will have order-ready data that can be exported to Excel or pushed directly to your ERP system.
We have added Desired stockout date as an input data point to the Products data table to improve re-stock recommendations. This date refers to when you want an article to run out of stock, e.g. end-of-season. If stated, we refer to this data point to improve what items are recommended for re-stocks and when.
It is now easier to create Placeholder products for articles that you want to set a plan for but are not yet fully defined in your systems. These articles might still be in the idea stage or their production is uncertain, but in the meantime they should still be accounted for to get your purchase plan together. Once the real article is created, you can simply replace the placeholder.
To add a Placeholder product, just click the pen button in Planning and give it a name.
Want to learn more about how Madden can support you with sales forecasting and inventory planning? Leave us your details and we'll get in touch!