Canadian Retailer - The Supply Chain & Logistics Issue - 24
PARTNER MESSAGE PRINCESS AUTO LTD.
FLOWCASTING: IN-STOCK-
WHENEVER, WHEREVER
How Princess Auto Ltd. is using the Flowcasting planning process to
significantly improve in-stocks and profits while unleashing a new
omnichannel fulfilment model.
BY MIKE DOHERTY, Co-Founder, Demand Clarity Inc., and KEN LARSON, Senior Vice President,
Customer Experience at Princess Auto Ltd.
Background
Princess Auto Limited (PAL) is a national hard
goods retailer with 45 stores located from coast-tocoast, selling a wide variety of products, targeted
to help their customers-the "figure-it-outers"- do,
fix and make things. For anyone who's shopped
at PAL, customer service is legendary-based
on a set of principles entitled "Royal Service" in
which, among other axioms, "no sale is final".
In keeping with Royal Service, members of the
leadership team, led by CEO Geoff Frodsham and
Senior Vice President Customer Experience Ken
Larson, realized that to compete and grow in the
rapidly changing retail environment, they would
need to improve their supply chain performance;
specifically in-stock and inventory productivity.
Retail out-of-stocks have been a burden and
a major source of customer dissatisfaction, with
many industry surveys confirming that retail out
of stocks average 8 per cent during regular business periods and climb to more than 15 per cent
during promotional periods. What's worse is that
these numbers have not changed for decades. At
the outset, Princess Auto was not immune to the
malaise plaguing the retail industry as a whole.
Implementing the flowcasting process
To address these challenges with out-of-stocks,
the company became one of the first retailers to
manage their business using the flowcasting process and supporting solution (from JDA Software).
Flowcasting is a planning process that utilizes
store level time-phased forecasts of consumer demand (e.g. how much you will sell and when, by
item) over a 52-week planning horizon and then
calculates resulting upstream replenishment, purchasing, and supply plans over the same horizon,
as depicted below:
UNDERSTANDING CONSUMER DEMAND
Retail Store
Retail Distribution
Centre
Manufacturer
Distribution Centre
Forecast
24 |
CANADIAN RETAILER
CALCULATE
| THE SUPPLY CHAIN & LOGISTICS ISSUE
Manufacturer
Plant
Raw Material
Supplier
Table of Contents for the Digital Edition of Canadian Retailer - The Supply Chain & Logistics Issue
Editor’s Note
Retail Currents
Under the Banner
Retail Logistics—It’s More Than Moving Boxes
Association News
Payments Moving Toward a Mobile Tipping Point?
Diane’s Corner
Embracing the Revolution
Ten Things Retailers Need to Know About APIS
Flowcasting: In-Stock—Whenever, Wherever
Retail and the Robotics Revolution
The Demands on Supply
Better Pick-Up and Delivery Options
Reimagining the Last Mile
On the Road Toward a More Responsible Supply Chain
Growth Reverberated
Advertisers’ Index
Canadian Retailer - The Supply Chain & Logistics Issue - cover1
Canadian Retailer - The Supply Chain & Logistics Issue - cover2
Canadian Retailer - The Supply Chain & Logistics Issue - 3
Canadian Retailer - The Supply Chain & Logistics Issue - Editor’s Note
Canadian Retailer - The Supply Chain & Logistics Issue - 5
Canadian Retailer - The Supply Chain & Logistics Issue - Retail Currents
Canadian Retailer - The Supply Chain & Logistics Issue - 7
Canadian Retailer - The Supply Chain & Logistics Issue - Under the Banner
Canadian Retailer - The Supply Chain & Logistics Issue - Retail Logistics—It’s More Than Moving Boxes
Canadian Retailer - The Supply Chain & Logistics Issue - Association News
Canadian Retailer - The Supply Chain & Logistics Issue - 11
Canadian Retailer - The Supply Chain & Logistics Issue - Payments Moving Toward a Mobile Tipping Point?
Canadian Retailer - The Supply Chain & Logistics Issue - 13
Canadian Retailer - The Supply Chain & Logistics Issue - Diane’s Corner
Canadian Retailer - The Supply Chain & Logistics Issue - 15
Canadian Retailer - The Supply Chain & Logistics Issue - Embracing the Revolution
Canadian Retailer - The Supply Chain & Logistics Issue - 17
Canadian Retailer - The Supply Chain & Logistics Issue - 18
Canadian Retailer - The Supply Chain & Logistics Issue - 19
Canadian Retailer - The Supply Chain & Logistics Issue - Ten Things Retailers Need to Know About APIS
Canadian Retailer - The Supply Chain & Logistics Issue - 21
Canadian Retailer - The Supply Chain & Logistics Issue - 22
Canadian Retailer - The Supply Chain & Logistics Issue - 23
Canadian Retailer - The Supply Chain & Logistics Issue - Flowcasting: In-Stock—Whenever, Wherever
Canadian Retailer - The Supply Chain & Logistics Issue - 25
Canadian Retailer - The Supply Chain & Logistics Issue - 26
Canadian Retailer - The Supply Chain & Logistics Issue - 27
Canadian Retailer - The Supply Chain & Logistics Issue - Retail and the Robotics Revolution
Canadian Retailer - The Supply Chain & Logistics Issue - 29
Canadian Retailer - The Supply Chain & Logistics Issue - 30
Canadian Retailer - The Supply Chain & Logistics Issue - The Demands on Supply
Canadian Retailer - The Supply Chain & Logistics Issue - 32
Canadian Retailer - The Supply Chain & Logistics Issue - 33
Canadian Retailer - The Supply Chain & Logistics Issue - Better Pick-Up and Delivery Options
Canadian Retailer - The Supply Chain & Logistics Issue - 35
Canadian Retailer - The Supply Chain & Logistics Issue - Reimagining the Last Mile
Canadian Retailer - The Supply Chain & Logistics Issue - 37
Canadian Retailer - The Supply Chain & Logistics Issue - 38
Canadian Retailer - The Supply Chain & Logistics Issue - 39
Canadian Retailer - The Supply Chain & Logistics Issue - On the Road Toward a More Responsible Supply Chain
Canadian Retailer - The Supply Chain & Logistics Issue - 41
Canadian Retailer - The Supply Chain & Logistics Issue - 42
Canadian Retailer - The Supply Chain & Logistics Issue - 43
Canadian Retailer - The Supply Chain & Logistics Issue - Growth Reverberated
Canadian Retailer - The Supply Chain & Logistics Issue - 45
Canadian Retailer - The Supply Chain & Logistics Issue - Advertisers’ Index
Canadian Retailer - The Supply Chain & Logistics Issue - cover3
Canadian Retailer - The Supply Chain & Logistics Issue - cover4
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