A retail store chain having 100+ stores wanted to transform into data driven organization to make strategic decisions for:
- Brand and vendor selection
- Store operations, inventory and staff management
- Product layout optimizations and resource management
- What will be estimated Revenue for next 3 years?
- How can we maximize cross selling?
- How to improve our stocks to avoid overstocking or under stocking?
- What is our current logistic cost and how can we optimize it?
- What are the key improvement areas in processes & operations to reduce leakages?
- Where do we need to allocate more budget to improve efficiency?
- How can we reduce or stop shoplifting?
- How effective is our surveillance system?
- How to maximize existing infra utilization?
Volansys provided analytics solution to track real time inventory and notification for products expiration date. Distributed ware house, Geo location based local Vendor selection helped in store capacity changed dynamics of supply chain logistics and reduced on transportation cost. Product display on self selection to floor planning adjusted to CCTV coverage reduced shoplifting and increased cross selling of products.
About 15 GB of data for last 3 years
- Billing data
- Customer Information
- Inventory & Purchase data
- Staff Information
- Vendor Information
- Products Information
- Promotional offers
- Marketing Data
- Surveillance Data
- Social media camping, Enrolment and Surveys
- Customer baying pattern matching from billing and customer information
- Product wastage pattern due to expiration or damage in packing
- Vendor route selection and traffic condition using GPS-enabled big data telematics
- Shoplifting issues using video analysis and peak hours staffing enrolment and efficiency
- Revenue growth for next 2 years using billing history and banding of products
- 10% increase in transportation cost and store maintenance according to existing methods of operations
- Store self layout to adjust cross selling and easy to access most frequently used products
- Regular maintenance of billing system to avoid bad systems or errors which is issue currently
- Staff training to educate importance of cross selling and upselling and its impact on sales and revenue
- Cross selling is about 2% which is very less and up selling is also very less which leads to better training in staff and placement of senior staff according to cross selling self locations
- Shoplifting cases generally happened at noon when there was less staff and products that were shoplifted were mainly miniature and immediate consumables placed in the corner or at the back side of the store
- Unbalanced staffing during productive and non productive days cause unnecessary traffic in billing causing loss in revenue about 1%
- Move miniature and immediate consumables items in front rows and open area instead of keeping them at back or at corner of stores
- Replacement of CCTV cameras to cover areas that have maximum possibility of shoplifting
- Provided Store staff recruitment recommendations for full and part-time job depending on the analyzed visitors traffic in store
- 4% average revenue growth estimated for next 2 years