Development of BI Solution for a Garment Retailers
Customer: The customer is a leading Men’s Readymade Garment Retail Company operating across India
Technologies: QlikView, Toad for Oracle
Challenge:
- The customer aimed to gain insight into the obstacles pertaining to various aspects of their business such as product line, pricing strategy, customer service, inventory stock updates, and other relevant areas by conducting a comprehensive data analysis.
Solution:
During the project’s timeline, a proficient team of Business Intelligence (BI) experts, comprising adept database developer and proficient BI developer, worked together diligently and achieved remarkable outcomes. The project deliverables encompassed the following:
- Cataloguing of data sources and evaluation of existing data management processes.
- Definition of BI solution features, encompassing data processing and analytics functionalities.
- Design of the solution’s architecture, along with its integrations with various on-premises data sources.
- Creation of a comprehensive project implementation roadmap, complete with estimated costs, timelines, and required resources.
- Developed dashboards and reports to track major KPI’s and in-depth analysis of the below:
- Inventory Management: The implementation of a robust inventory management system helped the company keep track of its stock levels and make informed purchasing decisions. The system included real-time updates on stock levels, sales data, and forecasts of demand. This helped the company avoid stockouts and overstocking, which could have led to revenue losses and excess inventory costs.
- Analysis of Previous Year Data: The analysis of sales data from the previous year provided insights into customer behaviour and helped the company make data-driven decisions. This included identifying the most popular products, analyzing sales patterns, and identifying trends in customer preferences. The information was used to inform purchasing decisions, optimize inventory levels, and plan marketing campaigns.
- Seasonal Planning: Seasonal planning helped the company anticipate demand for certain products and adjust its inventory levels accordingly. For example, the company stocked up on winter clothing in the fall to prepare for the winter season. The analysis of previous year’s data helped the company identify which products tended to sell well during specific seasons and plan inventory levels accordingly.
- Supplier Relationship Management: Establishing robust relationships with suppliers helped the company secure reliable and cost-effective inventory. The company also opted to work with multiple suppliers to diversify its supply chain and mitigate the risks of supply chain disruptions.
Value Delivered:
Technoforte created a robust and scalable BI solution that enables data collection and analysis for the required business areas.
- The cataloguing of data sources and evaluation of existing data management processes enabled the company to gain a deeper insight into its data sources and identify areas where data management processes could be enhanced.
- The development of dashboards and reports to track major KPIs provided the company with the ability to monitor and analyze its business performance.
- The comparison of current and previous year’s sales data provided the company with insights into customer behaviour, which was used to inform purchasing decisions, optimize inventory levels, and plan marketing campaigns.
- By implementing season wise planning, the company was able to forecast demand for specific products and make necessary adjustments to its inventory levels, resulting in the avoidance of excess inventory costs and revenue losses.
- The company’s ability to establish strong relationships with suppliers enabled it to procure dependable and economical inventory. Additionally, partnering with multiple suppliers aided in diversifying the supply chain and reducing the likelihood of disruptions in the supply chain.
