This novel solution enables e-commerce brands to intelligently translate deep insights into concrete action points, thereby helping them determine the demand-wise distribution of stock across the country. Moreover, the regional utilisation module delivers four key additional benefits that enable brands to allocate inventory smartly;
* Faster deliveries for higher marketplace conversions: Efficient management of inventory in the warehouses ensures that the products are kept closer to the customers. This helps the brands ensure faster delivery cycles i.e. within 1-2 days, resulting in greater customer satisfaction, higher seller rating, and enhanced brand loyalty.
* Low rate of returns: By optimally allocating SKUs to the required number of warehouses, in proportion to the regional demand, Iris RU allows great order fulfillment within SLA. Agile service results in a low rate of returns and quicker order realization.
* Smart inventory split across multiple warehouses: This end-to-end merchandise planning tool ensures that demand is fulfilled by the nearest warehouse, resulting in better brand visibility and higher conversion on marketplaces.
Significant savings on logistics costs: Built on cutting-edge technology, the Iris RU algorithm runs in less than two minutes, individually analyzing each warehouse. Furthermore, the tool suggests new SKUs based on various metrics such as attribute group performance, seasonality, warehouse capacity, etc. that leads to significant savings on logistics costs.
'With the increased focus on digitalization, a well-designed technology-led approach has become the need for e-commerce players to efficiently manage their inventory and warehouse, to tackle the uneven demand-supply dynamics. Increff's Iris Regional Utilization (RU) module was strategically designed for brands to reduce additional logistic costs and deliver a smooth online delivery journey. We will continue to bring innovative technology tools for brands to help them improve customer experience and enhance their profitability, says Rajul Jain, CEO & Co-Founder, Increff.'
In the year 2020, Increff saw an uptick in the number of B2B and B2C orders as the demand for merchandise and inventory management technology platforms doubled. In the post-Covid months, the company registered a revenue growth of 75 per cent, and both products: Iris and Assure, showed tremendous growth of 200 per cent and 100 per cent respectively. In fact, its cloud-based warehousing demand too has gone up by 50 per cent as compared to the pre-Covid phase. Increff services a strong portfolio of customers in the retail sector, e-commerce, fashion and accessory industries such as Reliance Trends, Soch, Pepe Jeans, Tommy, CK, Myntra, Mango, Blackberrys, Libas, Levi's Hummel, Celio, PUMA. etc.
( With inputs from IANS )
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