Delivering the spring collection to the stores is in full swing, but how do you, as a fashion brand, keep abreast of store stocks and maximize the sale of your collection?
Vendor Managed Inventory (VMI) comes in handy for this. This module in Itsperfect is quite popular, and for a good reason. After two years of uncertainty and store closures, you notice that stores purchase less in advance, so that the stock risk lies with the fashion brands. With VMI you can easily record stock and price agreements between brand and store. Besides that store stocks are automatically replenished and as a brand you have insight into the sales and best running items per store. Win-win for brand and retailer, because it reduces risks and increases insight and turnover.
How exactly does the Vendor Managed Inventory module work?
With the VMI module in Itsperfect, you (as a brand) manage the stocks in the store yourself. Like it’s your own store. You make fixed agreements with the retailer about the price and the minimum stock of each item in the store. The retailer ensures that the sales data is sent via EDI, or manually via Excel. Based on this sales data, the numbers of items are automatically supplemented to the agreed minimum stock. As a brand, you have continuous insight into sales and current stock levels in the stores. And as a retailer it reduces the chance that you have to sell ‘no’.
The advantages of VMI at a glance
- Insight into the sales of your collection per store
- Automatic new sales orders
- Despite less presale, there is still commitment from retailers
- Better respond to best running items per location
- Increase in turnover for brand and retailer