EVE is a brand in cosmetic retail with over 100 stores. As a brand with primary corporate aims to become the largest personal and beauty care chain store in Turkey they know it’s only possible through the use of advanced technologies and next generation retail innovation.
One of the issues for most retailers, including EVE, involve making accurate, demand-driven recommendations about new products for which there is no historical sales or stock data. In the search for solutions EVE found mostly expensive and time consuming options before Getron offered a cost-free pilot of the solution Getron Advisor that could be deployed in just few days.
Getron Advisor is an AI-Powered tool for product and inventory management.
Advisor plugs into clients’ SKU and location data, then uses advanced Machine Learning algorithms to generate recommendations for everything from allocation and reordering to delisting and discounting. By replacing instinct and impulse with state-of-the art time series forecasting, Advisor can drastically (and rapidly) streamline operations and maximize revenue for companies across a variety of industries.
If you have a retail chain, like EVE, then you could have gained inventory turnover by 33% and reduced lost revenue by 70,5% by using Getron Advisor.
Decrease lost revenue by 70,5%
Increase operational efficiency by 70%
Increase in-store inventory turnover by 33%
Increase in sales-to-stock by 24,6%
„We started using Getron Advisor in April of 2016. Before running Advisor, the sales to stock ratio of our products was 69. Today that ratio is 86. Within two years of using Getron Advisor, we opened over 60 new stores, saw a significant increase in revenue overall, and experienced 33% drop in inventory turnover. Additionally, lost revenue has decreased to 1,14% from 3,87%. Our company has achieved a critical 70% increase overall performance.“
ALİ AKÇAY, Supply Chain Manager
EVE
