Client Objective
What’s the price tag on trust? A worldwide clothing and accessories retailer wanted to optimize its inventory in its stores to maximize revenue and profitability. The team needed reliable models that they could trust.
Unique Challenge
Old and overstocked. Their original forecasting models were antiquated, and most employees didn’t know how to modify them. This led to inaccuracies and mistrust of results. With low reliability and adaptability, the client was left with excess inventory in some cases and a loss of revenue in others.
Bespoke Solution
Innovation is not one-size-fits-all. The Unify data science team provided expertise that pinpointed challenges with existing product sales forecasting and pricing models and solutions to modernize and improve performance. Unify’s new machine learning models helped determine more optimal pricing and promotional discounts as well as the effects of discounts vs. the impacts of seasonal buying trends. The Unifiers also build subsequent models to predict the right assortment of products and sizes at each store.
Proven Impact
A confident trend to follow. The new platform allowed for more efficient workflow and automation – shortening process time from several hours to a matter of minutes. Validation testing improved model performance with significant error reduction. The client was able to improve their demand forecasting of products and sizes for each store. When coupled with prescriptive guidance on pricing, they were able to make major improvements in sales revenue and reduce inventory costs. Proving that good results are always in fashion.
To learn more about Unify’s proven impact and custom solutions, contact us today.
