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Quantum Retail Technology: Leveraging Consumer Demand to help Retailers get the Maximum value from t
In the constantly evolving, consumer-driven retail landscape, an array of major changes have forced retailers to employ new strategies and advanced technologies to get the maximum value out of every sales opportunity. Headquartered in Minneapolis, Minnesota, Quantum Retail Technology offers many of the world’s most successful retailers demand-driven customer insights paired with the ability to take advantage of the anticipated consumer behavior.Quantum’s Q Allocation and Replenishment and Order Planning solutions offer retailers an unparalleled understanding of their consumer’s demand to ensure that the right products are available in the right locations/channels at the right time. Driving millions of decisions for clients every day, Quantum’s solutions analyse a variety of data points, maps those predictions to the business strategies of the retailer and then uses that information to make both store level and estate wide recommendations that the retailer can act on to maximize their overall profitability and performance.
Quantum Retail’s design as an add-on solution means that retailers can layer the solution on top of their existing supply chain, erp, or internal process systems. In an omnichannel environment, ‘Q’ is the underlying engine which predicts, where a particular item will sell next, allowing retailers to make intelligent decisions on how to meet customer demand from available stock. “While retailers are competing in both the brick and mortar, and online space, it is very important to understand the product’s potential in each location and make the best decision on where to serve the customer demand from. Our product provides granular and comprehensive predictions,” says Morgan Day, VP of Corporate and Account Strategy. Through a deep understanding of merchandise roles and goals, ‘Q’ helps, users determine the most profitable strategies for every product at every location, driving unprecedented value for retailers by maximizing top line sales. The entire ‘Q’ platform and solution suite can be run on dedicated hosted equipment and is designed for rapid and flexible deployment.
Quantum Retail also provides a variety of secure hosting and application management options that can reduce hardware investment and minimize involvement of client IT departments to connect and operate the system.
“‘Q’ is an automated solution which runs in the background with an easy to use interface. The system is both exception and workflow driven ensuring that retailers can benefit from both the rapid recommendations that the system produces combined with the assurance that exceptional circumstances can be examined more closely based on the retailer’s preferences,” explains Day. In a recent case study highlighting the ‘Q’ platforms’ efficiency , a client had the requirement to better balance inventory across stores to manage a complex range of products, ranging from fast selling low price merchandise that was getting regularly replenished, to very high price, slow selling specialty items. The solution enabled them to balance the inventory and offered better optimization on top of order allocation to improve the flow of merchandise. The planning solution facilitated a longrange view of projected demand, which enabled them to take a proactive approach to reduce the overall inventory imbalance. ‘Q’ is a profit maximizing solution proven to unlock unprecedented value for retailers contributing at least a 2 percent sales lift, 5 percent inventory reduction and 3 percent margin contribution in only a few months.
Quantum Retail works closely with retailers to make sure that they are making the right judgments on how they fulfill their customer’s demands. “We are heavily focusing on omnichannel solutions, to maximize the potential for every product to sell at the maximum value and capitalize on the customer demand across channels,” concludes Day.
‘Q’ platform helps to predict, where a particular item will sell next and to decide on where inventory should be pulled from
“‘Q’ is an automated solution which runs in the background with an easy to use interface. The system is both exception and workflow driven ensuring that retailers can benefit from both the rapid recommendations that the system produces combined with the assurance that exceptional circumstances can be examined more closely based on the retailer’s preferences,” explains Day. In a recent case study highlighting the ‘Q’ platforms’ efficiency , a client had the requirement to better balance inventory across stores to manage a complex range of products, ranging from fast selling low price merchandise that was getting regularly replenished, to very high price, slow selling specialty items. The solution enabled them to balance the inventory and offered better optimization on top of order allocation to improve the flow of merchandise. The planning solution facilitated a longrange view of projected demand, which enabled them to take a proactive approach to reduce the overall inventory imbalance. ‘Q’ is a profit maximizing solution proven to unlock unprecedented value for retailers contributing at least a 2 percent sales lift, 5 percent inventory reduction and 3 percent margin contribution in only a few months.
Quantum Retail works closely with retailers to make sure that they are making the right judgments on how they fulfill their customer’s demands. “We are heavily focusing on omnichannel solutions, to maximize the potential for every product to sell at the maximum value and capitalize on the customer demand across channels,” concludes Day.
