If you could ask your customers to review your proposed range before you placed your buy, would you? If you could then map their responses to your operational matrix to generate precise demand forecasts for any given item you could minimize overbuys and significantly reduce discounting.
From simple range rationalization/optimization to granular demand prediction for new products at any proposed MRP/RRP, SoundOut can help. In the fast evolving world of fashion and general retail, granular demand forecasting of every SKU at any given price point is becoming critically important.
SoundOut uses the real time input from millions of consumers on proposed new items and combines this with historic operational data to build category specific prediction models, generating significant improvements in ranging and buying accuracy. This is achieved by applying leading edge machine learning technologies that self-learn and evolve over time to also include additional factors such as trend, weather, and seasonality.
We are the leaders in this field and work with some of the largest online and traditional fashion and other retailers in the US, Germany and the UK to materially improve demand prediction and reduce levels of discounting across their businesses by taking the consumer to the heart of their buying and merchandizing processes in an automated, scalable, frictionless and cost-effective way.
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