Increasing Profits in Less than 90 Days – How We Keep Inventory Simple and Who We Are
As founder and CEO of Data Profits, welcome to the Data Profits Blog. Our goal is to provide you with meaningful insights into inventory management, helping you identify opportunities to improve your supply chain and increasing profits. Our solution, iKIS (“Internet’s Keeping Inventory Simple”) provides a SaaS-based solution that retailers trust with one of their largest investments — their inventory.
Data Profits’ BI tools deliver consumer insight and demand forecasting at new levels of detail and accuracy. Merging BI analytics, demand forecast and planning tools with vendor and buyer collaboration provides clear, accurate, and extensive knowledge of consumer buying habits allowing retailers to reduce inventories but stay in-stock with the right products at the right location, delivering increased sales for Data Profits’ customers.
One recent successful implementation with a top 100 retailer resulted in market leading outcomes:
- 25 percent inventory reduction
- More than 3 percent same store increase in sales and gross margin
- More than 90 percent forecast accuracy
All in less than 90 days.
Increasing Profits – The iKIS Difference
We provide leading wholesalers/distributors, suppliers, and mid-tier retailers with a short 30 day install and a typical 90 day return on investment resulting in:
- Better service to consumers
- Higher sales
- Lower inventory and operating costs
With an integrated and easy to customize forecasting solution, a unique sales data scrubbing tool and inventory optimization wizards, iKIS determines the most profitable time to place orders ensuring that the right inventory is available at the right location when a customer is ready to purchase.
Who We Are
My goal is for Data Profits to solve the real-world problem plaguing retailers today–the disjointed relationship between supply chain data, people and business goals. I know these problems first-hand through my work with E3 during their tremendous growth period in the 1990s, my executive work in replenishment and inventory for fashion chain giant Uptons Stores, and later as a consultant working with wholesalers like grocery giant Tree of Life, now KeHE and chains like Discovery Channel Stores, among many other retail and wholesale operations. We work closely with our distinguished advisors to provide our customers with an industry-leading solution.
Our Advisors Include:
Jeff Hoffman is a successful entrepreneur and innovator who provides a great knowledge base for marketing and selling unused inventory. He was a founder and CEO in the Priceline.com family of companies, where he held two CEO titles and led the development and launch of Priceline’s consumer company. Jeff also has been CEO of Ubid which specializes in the liquidation of excess inventory from major brand name companies, and serving on the board for some additional companies.
Clark Guilder is an Atlanta-based angel investor with extensive software industry experience who brings creativity and insight into the application of technology to business problems. He served as key lead at Microsoft in development of XP, Windows Server 2003 and their world marketing efforts. Currently, Clark is the COO of Apparity Inc. and serves on the boards of the Atlanta Technology Angels (ATA), Chairman of ZeeWise, and serving on the board of advisors for a number of Atlanta startups.
Thank you for visiting the blog and we look forward to providing you with insight to help you and your company “Tighten the Links in Your Chain.™”
Stuart graduated from Auburn University, with bachelor of science in business administration.
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- How to Avoid Carrying Cost Mistakes in Inventory Optimization - June 10, 2024
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