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Historically, when selling excess inventory, Excel becomes your best friend – and your worst enemy. Excel is a powerful tool but going through the product line by line can be tedious and lead to errors.
On top of that, for anyone who isn’t an Excel Guru, it eats up hours you could have used building strategy, and growing the business (or just simply having fun :)).
This is where Vue.ai’s INTURN tool comes in – the tool gives users a comprehensive view of their excess inventory and allows you to efficiently sell it to your off-price retailers. Hence, you can sustainably clear the excess inventory without diluting prices for too many buyers.
As we spoke to more of our customers, we understood that selling excess inventory in off-price can be quite intimidating. When you go too low, you risk losing out on profits and when you go too high, no retailers want to buy it. Finding that sweet spot for pricing that goes out in the offer can be daunting.
The straightforward answer is relying on data – especially the historical kind – to see how similar offers were made in the past, price points picked, quantities sold, and the retailers it was sent to. However, it isn’t that simple when you have to rummage through multiple tabs, each with different documents, invoices, offers, and sheets to put data points together. It gets even tougher when said data lies with different people in different teams and there are hundreds of thousands of lines of it.
INTURN’s latest feature solves exactly that.
The inLine Analytics feature provides immediate access to historical sales data right within the line sheet, enabling the creation of more intelligent and personalized offers within minutes. You won’t need to revisit previous offers, emails, or sell sheets to gather historical pricing and sales volume information anymore!
This feature empowers users to leverage data by embedding historical Quantity and Price values within the Offer Linesheet, which can also be applied to your current offer if you so choose. This, in turn (pun intended), also enables users to create smarter offers quicker than ever before. It ties together well with our mission to help you sell through more of your excess inventory, faster, with the best possible recovery.
Now with insightful data and analytics, deciding on pricing for new offers has become seamless. By incorporating these findings into pricing strategies or product selections, you can optimize offers to align with market demands, consumer preferences, and competitive pricing. This enriched understanding enables you to craft more compelling and competitive offers that stand out in the market, appealing directly to your target audience and maximizing the potential for sales success.
Ultimately, integrating this data into curated offers empowers you to make informed decisions that drive better results.
This is just the beginning! INTURN’s intelligent layer – AIONA (the AI Offer and Negotiation Assistant) will be launching soon, giving brands the ability to generate smart offers based on historical sales information and market trends at the push of a button (while ensuring users have the final say over the offer). AIONA will add to an extraordinary range of Vue.ai’s INTURN tool that will positively impact the supply chain management and inventory business.
Sign up or reach out for a personalized demo and embark on a data-driven journey with Inturn tool’s inLine Analytics!
Team Vue.ai
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