ATLANTA, July 17, 2012 /PRNewswire/ -- Data Profits (www.data-profits.com), developer of the iKIS™ solution, which delivers demand forecasting, inventory management, and collaboration tools to leading wholesalers/distributors, suppliers, and mid-tier retailers, announced today continued success with its iKIS Lead Time Forecasting Engine which provided a return on investment in less than 90 days for a Top 100 North American Retailer. The Data Profits iKIS solution allowed a retailer to negate more than a million dollar inaccuracy in lead time planning by accurately forecasting when product would arrive at their distribution warehouse.
"The retailer's losses were caused by missed sales due to inaccurate lead times. Their inventory planning and vendor compliance systems were not able to quickly react to the dynamic marketplace," said Stuart Dunkin, CEO of Data Profits. "The Data Profits iKIS solution tracks real time changes to purchase orders and lead time to quickly adjust order amounts to meet fulfillment goals. As part of the process, vendors and buyers were automatically alerted to changes, vendor behavior, associated costs and the iKIS system updates based on proprietary business intelligence (BI) tools and forecasting algorithms."
Lower Costs and Higher Profitability
Companies cannot sell products that are not in the stores or warehouse. Data Profits iKIS vendor lead time forecasting removes the impact of expected versus actual lead time variations. The iKIS solution tracks every purchase order, every line across multiple distribution points. Analysis includes several data points beyond the basic order date including ready date and receipt date. The multi-layered iKIS Lead Time solution delivers real time lead time forecasting which allows retailers to visually see when and what POs are adversely affecting the vendor lead time.
iKIS customizable exception management and reporting tools provide retailers a way to message their team when vendor lead times change based on actual or percent change in carrying cost days, units or dollars. Retailers can also run a "what-if" scenario to see if the import price and resulting gross margin are actually more profitable than a higher priced product bought locally that has short lead times.
About Data Profits:
Data Profits, Inc. developed iKIS, "Internet's Keeping Inventory Simple," a suite of solutions delivered via Software as a Service (SaaS). Data Profits' iKIS provides the first collaborative-based, industry-wide view of the retail supply chain for the thousands of mid-market wholesalers and retailers with annual sales of $50 million to $15 billion. iKIS solutions provide unified demand forecasting, inventory replenishment, inventory optimization, purchase order management, demand planning, allocation, custom alerts and messaging in a user customizable format. The iKIS cloud-based software solution works seamlessly with existing legacy systems, saving retailers considerable time and money with their rapid results of 30 days installation and 90 days ROI. At 1/10th the cost of competing software and no hardware cost, the ROI provides unique opportunities for each customer to "Tighten the Links in their Chain™."
For More Information:
Deanna Anderson, APR
Ph# (404) 759-1890
This press release was issued through eReleases® Press Release Distribution. For more information, visit http://www.ereleases.com.
SOURCE Data Profits, Inc.