The New Science of Retailing: How Analytics Are Transforming the Supply Chain and Improving Performance

Marshall  Fisher; Ananth   Raman

Book | 2010

The New Science of Retailing: How Analytics Are Transforming the Supply Chain and Improving Performance

by Marshall Fisher and Ananth Raman

Abstract

Retailers today are drowning in data but lacking in insight: They have huge volumes of information at their disposal. But they're unsure of how to sort through it and use it to make smart decisions. The result? They're struggling with profit-sapping supply chain problems including stock-outs, overstock, and discounting. It doesn't have to be that way. In The New Science of Retailing, supply chain experts Marshall Fisher and Ananth Raman explain how to use analytics to better manage your inventory for faster turns, fewer discounted offerings, and fatter profit margins. Featuring case studies of retailing exemplars from around the world, this practical new book shows you how to accomplish the following: mine your sales data to identify "homerun" products you're missing; reinvent your forecasting and pricing strategies; build end-to-end agility into your supply chain; establish incentives that align your supply chain partners behind shared objectives; and extract maximum value from technologies such as point-of-sale scanners and customer loyalty cards. Highly readable and compelling, The New Science of Retailing is your playbook for turning all that data into a wellspring for new profits and unprecedented efficiency.

Keywords: Profit; Knowledge Use and Leverage; Logistics; Supply Chain Management; Mathematical Methods; Retail Industry;

Format: Print

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Fisher, Marshall, and Ananth Raman. The New Science of Retailing: How Analytics Are Transforming the Supply Chain and Improving Performance. Harvard Business Press, 2010.

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This paper introduces methods for increasing the efficiency of retail store liquidation, which we define as the time-constrained divestment of retail outlets through an in-store sale of inventory. The retail industry depends extensively on liquidation, not only as a means for investors to recover capital from failed ventures, but also to allow managers of going concerns to divest stores in efforts to enhance performance and to change strategy. The operations literature has examined product liquidation, but retail store liquidation differs significantly. This paper augments the literature by introducing techniques for improving operating decisions during retail store liquidations and by demonstrating the performance of these methods in the field.

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The New Science of Retailing: How Analytics Are Transforming the Supply Chain and Improving Performance

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