Introduction to Space Planning

[Audio] ABC is a retail store. A critical asset for the retailers is the physical space in their stores to provide offers for the customers. ABC made poor use of space in the stores which led to increase in overstock, decreasing customer satisfaction, increase in inventory ultimately leading to failures in sales growth. Hence ABC retailer decided to use BlueYonder space planning tool to solve these issues and achieve ultimate benefits.

[Audio] Space planning helps retailers and suppliers construct, manage, and optimize detailed planograms to optimize product space allocations and efficiently execute demand-driven category and assortment management plans. Retailers and Suppliers can collaborate to determine and manage: The products to display in range The space required for each product on shelf The frequency of replenishing the shelf with products.

[Audio] Benefits of Space Planning: Reduced out of stock - Resulting in increased revenue and customer satisfaction Optimized inventory - Balance between on-shelf stock and customer demand thereby lowering costs Optimized shelf space - Shelf layout that reflects and stimulates customer behavior Greater returns - Assurance of greater returns on valuable retail space Consistent message - A consistent category and marketing message store Increased staff efficiency - Staff efficiencies in store during shelf resets.

[Audio] Hence optimizing store space at layout level and shelf level improved ABC customer insights, streamline business process, ultimately help performance of sales goals.