AI in Retail Excess Inventory Management

Global Brand Partners with Vue.ai’s INTURN tool to Streamline Workflows3 min read

January 23, 2024   |   2 min read

Global Brand Partners with Vue.ai’s INTURN tool to Streamline Workflows3 min read

Reading Time: 2 minutes

Company Profile

One of the world’s largest contemporary brands partnered with Vue.ai’s INTURN tool to streamline their workflows. This men’s and women’s modern fashion label with 400+ stores worldwide and over $600 Million in global sales saw striking results in their off-price business by leveraging Vue.ai’s INTURN tool to optimize its go-to-market process.

Challenge

Historically, the brand was unable to enhance its liquidation strategy due to a lack of data insights and automated tools to streamline the planning process. This challenge resulted from three root causes:

  1. Inefficient planning and subjective decision-making
    Manual offer comparisons and margin calculations combined with a lack of historical sales data resulted in an efficient planning process. The brand’s off-price team had limited facts on which to base go-to-market decisions.
  2. Lack of legacy production information
    The fashion label was stuck with mounting amounts of legacy inventory and was unable to liquidate due to extreme difficulty in sourcing product images and information. This lack of information created a holding pattern for the brand when it came to off-price sales.
  3. Inability to curate relevant offers
    Offer creation was time-consuming and error-prone since the brand was manually allocating products to each retailer via Excel. The lack of legacy product information also prevented the brand from creating specific offers relevant to each buyer.

Solution

Using Vue.ai’s INTURN tool as a centralized system of record, the brand was able to start planning its off-price business more strategically, create content-rich offers, and go to market faster. The brand achieved this outcome via three different solutions:

  1. Actionable insights to enable rapid decision-making
    The brand leveraged offer analytics at each step of the negotiation process to make informed business decisions, which resulted in higher sell-through rates.
  2. Content-rich data compilation to drive increased sales
    Vue.ai’s INTURN tool enabled the brand to seamlessly sync product data and images together to create an elevated offer experience for buyers, which led to new opportunities for the brand to monetize aged inventory.
  3. Curated offers for buyers to allow for faster go-to-market timing
    The brand crafted relevant inventory assortments for various retailers using the INTURN platform’s Allocation tool, which allowed for a faster go-to-market process.

Results

Overall, by partnering with Vue.ai’s INTURN tool to solve their off-price challenges, this contemporary fashion label achieved the following staggering results:

  1. Rapid Decision-Making: 94% faster internal review times
  2. Increased Sales: $2.5 Million in incremental sales of aged inventory
  3. Faster Go-to-Market Process: 220+ hour reduction in annual labor

What business challenges in your off-price process could Vue.ai’s INTURN tool help solve? Get in touch here.

ABOUT THE AUTHOR

Vue.ai

Vue.ai engineers bespoke AI transformation roadmaps for enterprises across industries. Retailers to resellers, auto-extracting data from files to extrapolating fashion styles, 150+ conglomerates in five continents recruit Vue.ai. How can we help yours?