Data Profits Releases iKIS 5.2; Completes Successful Software Trial with Tier 1 Retailer
More than $1 million in savings realized
ATLANTA, GA (August 25, 2010) — Data Profits, a national SaaS-based company focused on the sales and supply chain space, announced today the release of the next version of its award-winning iKIS software solution.
Already companies are experiencing tremendous cost and time savings, utilizing Data Profits’ iKIS 5.2 software, which is the only solution on the market today that allows for near real-time collaboration. A Midwest Tier 1 retailer with over 200 stores experienced more than $1 million in savings upon completion of its pilot project using iKIS version 5.2. In fact, the iKIS 5.2 solution reduced the Tier 1 retailer’s working capital by almost one week of inventory while increasing “in stock” performance by two percent.
“The pilot project took place during the hectic eight weeks of the 2009 pre-Christmas holiday inventory surge,” said Stuart Dunkin, founder and CEO of Data Profits. “The savings from the pilot test alone paid for iKIS 5.2 to be deployed throughout the retailer’s entire supply chain. And as of today, we’re on track of seeing savings amount to about $1 million annually for this client, which is a typical result.”
Retailers utilizing iKIS 5.2 increase vendor collaboration, improve in-store performance yielding higher sales, and generate positive customer satisfaction. The SaaS model allows iKIS to operate with low set-up costs, no per-user fees, no hardware costs, and rapid implementation enabling faster payback via reduced inventory and improved “in stock” service.
“The results of the Data Profit iKIS pilot are outstanding and exceeded my expectation,” said the Midwest Tier 1 retailers’ Director in charge of the supply chain. “Using iKIS, I can see my forecast and where things are going well or where improvements need to be made based on company directives using the Action Alerts custom wizard.”
A recent survey of retailers by the Global Supply Chain Council documented the need for iKIS type solutions by identifying the biggest supply chain challenge for 2010 as a “Lack of visibility and poor forecasting” by more than a two-to-one margin.
A study posted in the December 28, 2009 edition of RIS titled “Fearless Retail Predictions? demonstrates the need for this product: New investments in BI [business intelligence] are becoming critical for retailers to understand how best to target assortment, price, promo and services, as well as optimize operational processes to redirect efforts toward a more localized service and selection.
Data Profits’ SaaS model eliminates the traditional time and costs for hardware, software licenses, and in-house IT support. The iKIS 5.2 solution focuses on the inventory and supply chain professionals, providing ease of use with seamless integration. iKIS 5.2 allows department planners to utilize and link together disparate data sources such as actual sales, current inventory stock levels and warehouse and logistics capabilities– along with suppliers– into one system to analyze, forecast and recommend actions needed, while monitoring events. iKIS 5.2 provides direct visualization of the forecast for in-stock, service-attained, lost sales and promotional affects on the market while enabling various “what-if” conditions to be evaluated and easily adjusted by the user.
The unique iKIS 5.2 customization and collaboration features allow the right mix of user and computer to be applied to inventory management problems. This allows the planner to place the forecasting display in a chosen location on the iKIS 5.2 webpage. The Action & Alerts business rule and workflow system allow the retailer to set event exceptions on sales and inventory to measure accuracy and goals, keeping attention on the important “payback” events without getting lost in 1000s of SKUs.
About Data Profits
Data Profits, Inc. provides business intelligence and supply chain collaboration software delivered as a web service to retailers, wholesalers, and their supply chain members and partners. Its flagship product, iKIS 5.2, delivers management dashboards providing scorecards, user customized sales and inventory forecasting tools, planning, allocation, cross dock, seasonal sales indexing, along with custom business rules with workflow actions and exception management. iKIS provides recommendations by analyzing and tracking sales, lost sales, in stock service, inventory, day of week sales, and promotion filtering and analysis. The Data Profits iKIS 5.2 delivers results to retail and wholesale operations via fast set up, low cost, and use of leading inventory management algorithms. Data Profits? vision is to enable customers to find profit in their data by tightening the unwieldy supply chain.
Contact: Jean Creech Avent
770-574-4100 x 220
- Lead Time Forecasting - February 7, 2019
- Data Profits in Gartner’s 2017 Retail Replenishment and Forecasting Software Guide for the Sixth Year - February 13, 2018
- Data Profits Releases 4 Easy Replenishment Ideas that Adapt to the Digital Age - July 20, 2017