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Veranstaltung
Operating at the forefront of the North American book distribution industry, ReaderLink encountered a significant challenge with its new product forecasting, which directly impacted profitability. With a distribution network that introduces up to 100 new titles weekly, precise stock allocation was critical. Stock discrepancies led to both stockouts and overstocks, negatively influencing its bottom line.
In response to these challenges, ReaderLink sought the expertise of Blue Yonder, already a trusted partner for its space planning solutions across 100,000 retail locations and its attribute-based model. With the integration of Blue Yonder Demand and Fulfillment, the company leveraged powerful forecasting algorithms. This approach, centered around attribute-based forecasting models, enables a deeper understanding of demand dynamics.
Customization and precision at scale
ReaderLink's enhanced ability to customize assortments for its massive retailer network resulted in significantly reduced errors in forecasts. With a data-driven approach, the company transitioned from general to highly specific forecasting models, utilizing real-world sales data and product attributes.
Achieving better results consistently
By accurately forecasting demand, ReaderLink minimizes excess stock and reverse logistics, which were previously eroding profit margins. Blue Yonder's solution aligns inventory with customer demand, fostering satisfied retailers, customers, and a steadier financial outlook. This has resulted in improved forecast accuracy for new product introductions by up to 30% for some retailers and segments.
ReaderLink's journey with Blue Yonder's innovative solution exemplifies a successful leap from traditional forecasting to a precision-driven model, setting a new benchmark for efficiency and profitability in the book distribution landscape.
