We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
  • ::COVID-19 COVERAGE::
  • INDUSTRY PRESS ROOM
  • SUBMISSIONS
  • MEDIA FILE
  • Create Account
  • Sign In
  • Sign Out
  • My Account
Free Newsletters
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
  • STRATEGY
  • GLOBAL
  • LOGISTICS
  • MANUFACTURING
  • PROCUREMENT
  • VIDEO
    • News & Exclusives
    • Viewer Contributed
    • Upload your video
  • PODCAST ETC
    • Podcast
    • White Papers
    • Webcasts
    • Events
    • Blogs
      • Reflections
      • SCQ Forum
    • Mobile Apps
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
  • STRATEGY
  • GLOBAL
  • LOGISTICS
  • MANUFACTURING
  • PROCUREMENT
  • VIDEO
    • News & Exclusives
    • Viewer Contributed
    • Upload your video
  • PODCAST ETC
    • Podcast
    • White Papers
    • Webcasts
    • Events
    • Blogs
      • Reflections
      • SCQ Forum
    • Mobile Apps
Home » Retailing is rocket science
Forward Thinking

Retailing is rocket science

September 22, 2010
Supply Chain Quarterly Staff
No Comments

Rocket-science retailing? That's what retailers need to practice these days in order to reduce costs and drive revenue, according to the authors of the book The New Science of Retailing: How Analytics Are Transforming the Supply Chain and Improving Performance.

Rocket-science retailing involves mining retailers' "treasure trove" of customer transaction data and then using analytics to make smarter business decisions, according to authors Marshall Fisher of the Wharton School at the University of Pennsylvania and Ananth Raman of the Harvard Business School. By using analytical data, retailers can better decide how much inventory to carry for each product in their stores. They can also use that data to craft a more profitable way to deal with markdowns and create a flexible supply chain that responds quickly to demand signals. In addition, the authors argue that this data analysis can be used to improve retail forecasts and develop new practices for dealing with retail management challenges.

The book spotlights a number of international companies that are using retail analytics to create more flexible supply chains, including Spanish clothing retailer Zara, Japanese retailer World, and Japanese manufacturer National Bicycle.

The authors themselves have a history of working on analytic projects, having co-founded 4R Systems Inc., a software and consulting firm that provides analytics services.

Published by Harvard Business Press, The New Science of Retailing: How Analytics Are Transforming the Supply Chain and Improving Performance sells for US $29.95.

  • Related Articles

    Companies struggle to find profits from omnichannel retailing

    National Science Foundation awards grant to study multi-echelon inventory optimization

    Why "big data" is proving elusive in retail supply chains

Recent Articles by Supply Chain Quarterly Staff

J.B. Hunt trials self-driving trucks in Texas pilot

Survey: 70% of U.S. businesses eye reshoring and nearshoring plans

Packaging industry reprioritizes amid inflation, supply chain disruption

You must login or register in order to post a comment.

Report Abusive Comment

Most Popular Articles

  • How to resolve your inventory dilemma

  • Container prices continue to drop

  • Regionalized supply chains: the key to resilience

  • Warehouse vacancy rates sink to 27-year low

  • Empty shipping containers stack up at U.S. port depots

Featured Video

Cccb7d13 710a 4473 8132 da8b6cc286f1

The Sportsman's Guide Case study: Increasing Accuracy & Productivity

Viewer Contributed
Thanks to the Lucas Warehouse Optimization Suite, The Sportsman's Guide has increased productivity, reduced training time, and experienced a boost in accuracy for both full-time staff and seasonal employees. Want to learn how Lucas can help your DC be more efficient, accurate, and safe while reducing labor costs?...

FEATURED WHITE PAPERS

  • Case Study: Peak Teams helps boost headcount quickly on a short-term project

  • Breaking Bad: Conducting Full Truckload RFPs in the Age of Digital Freight Procurement

  • Omnitracs One – Last Mile Solutions

  • The enterprise shipper's guide to building a smarter truckload RFP

View More

Subscribe to Supply Chain Quarterly

Get Your Subscription
  • SUBSCRIBE
  • E-NEWSLETTERS
  • ADVERTISING
  • CUSTOMER CARE
  • CONTACT
  • ABOUT
  • STAFF
  • PRIVACY POLICY

Copyright ©2022. All Rights ReservedDesign, CMS, Hosting & Web Development :: ePublishing