Prescient Announces Release Of Visibility & Analytics Inventory Module
Prescient Applied Intelligence, Inc. recently announced the release of the Visibility & Analytics (V&A) Inventory Module. V&A Inventory expands upon the existing V&A application modules, and provides suppliers and retailers visibility into critical information they need to manage the flow of product and ensure the desired inventory is available on the shelf for the consumer at all times. Prescient is a leading provider of collaborative supply chain solutions for retailers and suppliers.
V&A is a web-based business intelligence solution, powered by Prescient's Demand Signal Repository. The Demand Signal Repository (DSR) is an intelligent data warehouse which manages point of sale and other transactional data from retailers and suppliers, and enables our customers to apply this data using our collaborative solutions.
V&A Inventory comes with a robust set of standard reports, but is also highly customizable, allowing users to configure their own reports based on data attributes that are most important to their decision-making process. It keeps track of in-store stock positions, as well as identifies the quantity of product on the shelf at any given time. And, with delivery information matched against point-of-sale (POS) data, suppliers can identify gaps in flow ratio and make proactive changes to ordering and delivery practices.
Customer Results
A long-time Prescient customer, a consumer products company, was experiencing in-store shrink approaching 17%. They saw the opportunity to become one of the first adopters of the V&A Inventory and Shrink modules as a way to combat this growing shrink problem. V&A provided them unparalleled visibility and actionable information from the item data spanning 7,500 stores and multiple retail partners. This insight was invaluable as they focused on shrink reduction and improved service levels at the store shelf.
The results the company gained from the V&A modules include a reduction of over $500,000 in inventory discrepancies and a 12% reduction in shrink. They have also reported a significant time savings in daily analysis and reporting through use of the V&A application.
Availability and Road Map
The V&A application, powered by the Demand Signal Repository, utilizes daily store-level data, as well as information from other enterprise applications, to create visibility into and analyze data around shrink, sales performance, inventory levels, and more. V&A also helps to identify root causes and highlights problems that need to be addressed. The Prescient V&A modules include:
- V&A Inventory: Provides visibility into in-store stock positions, stock position limits, and product flow.
- V&A Shrink: Designed specifically for DSD suppliers who are already conducting scan based trading with Prescient, this module analyzes shrink trends by partner, store, product, packaging, route, and time period.
- V&A Sales: Provides insight into trends by store and item, as well as year on year performance comparisons.
- V&A Performance Analysis: A scorecarding module that suppliers can configure to specific retailer requirements to track performance across service levels, overstocks, on-time shipments, and more.
Prescient's V&A Inventory, V&A Shrink and V&A Sales modules are available immediately. V&A Performance Analysis will be available in late-2008. V&A Supply Chain Analysis, V&A Promotion Performance and V&A Shelf Productivity are currently being designed.
Click here to see a demo of V&A Inventory from Prescient Webcast Express
SOURCE: Prescient Applied Intelligence, Inc