In years past, inventory planners relied heavily on market savvy and economic indicators. More recently, advanced data and analytics capabilities have added more science and precision to the equation. In our latest blog post, we’re discussing demand forecasting as a foundational business process and how retailers can overcome potential weaknesses within the process to achieve a competitive advantage. Check it out: https://lnkd.in/gpQCZvpc #inventoryoptimization #dropit #demandforecasting
About us
Dropit revolutionizes operations by seamlessly integrating historical and real-time data from existing technology stacks, including ERP, OMS, POS, and CRM systems. Our innovative technology empowers retailers to streamline operations and optimize inventory management without disrupting current setups. Leveraging machine learning models and simulations, Dropit automates decisions and integrates corrective actions into retailers' systems, improving operational efficiency. Our solutions offer fulfillment capabilities and AI analytics, driving improved inventory turns and cost reductions. Committed to delivering operational excellence, Dropit unlocks growth opportunities for retailers in today's complex retail landscape. OUR STORY We got our start on the London High Street, enhancing top brands’ omnichannel capabilities. As we expanded, we learned brands were investing in inventory and fulfillment technologies that could only deliver the full benefits of omnichannel with the help of additional data aggregation and processing power. That’s why we developed a retail technology platform that adapts to any retail tech stack to help it work smarter - not harder - so retailers can finally achieve a level of performance, operational efficiency, and service that’s as great as their products. OUR VALUES Retail has been a force for expression, exchange, and opportunity for centuries, and we’d like to keep it that way. That’s why we keep our company values at the center of everything we do. People We’re committed to developing technologies that benefit all stakeholders in the retail ecosystem. Innovation We’re committed to developing technologies that enhance retailers’ efficiency & service without disrupting operational infrastructure. Sustainability We’re committed to developing technologies that safeguard retail’s future by promoting sustainable practices.
- Website
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https://www.dropit.shop/
External link for Dropit
- Industry
- Software Development
- Company size
- 51-200 employees
- Headquarters
- United Kingdom
- Type
- Privately Held
- Founded
- 2016
- Specialties
- Fulfillment Optimization, Omnichannel Retail, Automation, Retail AI, Data Aggregation, Store fulfillment, Omnichannel Fulfillment, Returns Management, Retail Operations, Inventory, Supply Chain, Rule Engine Customization, Sustainability, Inventory Visibility, Inventory Management, Retail Innovation, Omnichannel Efficiency, and Advanced Analytics
Locations
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Primary
Regent Street
United Kingdom , GB
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Tel Aviv , 6801294 , IL
Employees at Dropit
Updates
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The clothing rental industry continues to evolve and develop as a sustainable fashion service. However, despite its popularity and growth, profitability remains a challenge. Liz Young's recent article explores the approach taken by Nuuly, launched by Urban Outfitters. Nuuly is not only leveraging their parent company’s buying power and brands but looking acutely at every operational touch. Nuuly is even forecasting profitability by next year, highlighting the importance of operational and inventory visibility. At Dropit, we aim to empower brands to address the small issues that can drive significant change across their landscape, giving them ability to zero in on operational inefficiencies leveraging advanced models for overall costs reductions. https://lnkd.in/eQ2C-34H #sustainablefashion #dropit #nuuly #clothingrental #retailindustry #apparel
Here’s How One Retailer Is Finding Profits in Borrowed Clothing
wsj.com
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A lack of real-time data visibility prevents retailers from achieving optimized inventory allocation. From our latest blog post: “...This in turn has slowed inventory velocity, putting turn ratios out of kilter and causing overstocks that add costs, limit full-price sales, and kill margins.” What’s needed is to connect ERP, OMS, POS, and CRM systems to create a centralized data lake, then leverage machine learning algorithms to do the heavy lifting for better informed decisions. Read more at https://lnkd.in/ex2K4tiG #retailindustry #inventoryoptimization #dropit
How Data Sync Powers Better Inventory Allocation, Inventory Velocity
dropit.shop
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Dead stock is in the crosshairs. “Hasbro has made efforts to improve its end-to-end planning capabilities, bringing aged inventory down to ‘historic lows.’” EVP and CFO Gina Goetter says Hasbro can now “better determine where to source inventory according to customer demand.” https://lnkd.in/eWZDhuvq Just as Hasbro has realized the potential of optimized inventory management, Dropit is similarly helping retailers achieve this same thing with our system-agnostic, AI-powered platform. Learn more at: https://www.dropit.shop/ #optimizedinventorymanagement #dropit
Hasbro’s supply chain overhaul is paying off
retaildive.com
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“Current economic concerns are making people less likely to make discretionary purchases, perhaps even dialing back on essential goods or making trade-offs.” For retailers, this should be factored into their decisions surrounding inventory prioritization, SKU proliferation, and more. Read our latest blog post to learn three trends impacting inventory velocity that retailers must have on their radar. https://lnkd.in/gfiTH3x6 #retailindustry #supplychain #dropit
How These 3 Market Trends Are Impacting Retail Inventory Velocity
dropit.shop
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We’ve been invited to speak at ASCM’s Corporate Roundtable on August 22nd! Frankie Mossman, our CCO, will discuss digital transformation challenges in supply chains, particularly disconnected data and integration challenges. Hear what Frankie has to say about: -> How to embrace imperfection -> The importance of transparency and cooperation with partners -> How to achieve incremental improvements with long-term benefits. Until then, visit https://www.dropit.shop/ #supplychain #digitaltransformation #ASCM #dropit
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We’ve just launched our blog where we’re diving into inventory challenges for retailers, starting with inventory turn in our first post. “For years, inventory management and calculating velocity in retail was a combination of gut instincts, industry smarts, and heavy technology debt. Yet, we still struggle to make omnichannel efficient and profitable.” Hit the link to see how retailers can improve decision-making and order orchestration, lower costs, and optimize inventory flows. https://lnkd.in/gMfQye2S #retailindustry #supplychain #dropit
How to Optimize Inventory Velocity Via Data Sync
dropit.shop
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The future is frictionless shopping: Just Walk Out, RFID, Dash Carts, etc. are being tested in non-traditional retail environments (airports, stadiums). https://lnkd.in/edaENMvb “Just Walk Out” is what “frictionless” means to some retailers, but for everyone else, reducing friction can be done through inventory optimization– retailers getting items in the right place at the right time so customers can find what they need. It’s knowing how to meet demand with machine-learning-backed insights, resulting in fewer stockouts and overstocks. Learn more at https://www.dropit.shop/ #frictionlessretail #thefutureofretail #dropit
Amazon’s Blueprint For Frictionless Shopping Is The Future Of Retail
social-www.forbes.com
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1. Young people in emerging markets. 2. Retired and ready to spend. 3. The squeezed-but-splurging middle. These are under-served consumer profiles, according to this article. The third category “splurges on discretionary items at a rate that is comparable with that of high-income consumers.” https://lnkd.in/eZU-iXfs Retailers must have a finger on the pulse of the consumer landscape, and this article lays out nine significant trends, including the three above consumer profiles. It’s not just important to know the trends. Retailers must also have inventory optimization that helps them meet changing needs. Visit https://www.dropit.shop/ to learn more. #retailindustry #dropit #consumerspending
State of the Consumer 2024: What’s now and what’s next
mckinsey.com
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We often say “a unified view of inventory,” but what does this mean exactly? Breaking it down: 1 We take your existing systems (OMS, eCommerce platforms, POS, ERP, IMS, TMS etc.) and funnel your data into an isolated lake. 2 We cleanse, synchronize, and structure the data to keep track of inventory, sales, courier services, operations, and every other interconnected node in the supply chain. 3 When we apply Dropit’s machine learning models, you get smarter decisions for inventory allocation, restocking, and returns, that use this unified view. This helps you know how to prioritize: -> Replenishing stores -> Store to store transfers -> eCommerce channels -> Wholesale channels In short, it’s a way to make smarter decisions. Learn more at https://www.dropit.shop/ #unifiedcommerce #retailindustry #dropit