INTELLIGENCE

Is your business benefiting from intelligent insights?

In today’s fashion and retail climate, it’s imperative that businesses benefit from intelligent insights that empower them to make smarter decisions. With valuable insights, businesses will be able to drive efficiency, innovate, and ultimately grow.

Why is business intelligence so important?

Intelligence at a glance

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Intelligence allows businesses to accurately plan collections months in advance

Intelligence plays a crucial role in any business, but particularly for fashion and retail businesses. With multiple seasons per year, fashion and retail businesses must be able to accurately plan their collections months in advance to ensure they arrive at stores and warehouses on time. It’s also critical that the collections are planned using historical data that better helps inform businesses on what items will sell well, allowing them to maximise revenue.

The key lies in collating data into a single location

To achieve greater intelligence, businesses must be able to collate data from various sources into a single location to ensure that they can generate meaningful insights and make smarter decisions. Without this level of intelligence, any number of issues could arise throughout the process that will ultimately impact a business’ bottom line.

Multiple data streams lead to inefficiencies

For example, if businesses are working with multiple data streams, they could soon find themselves fulfilling the same order twice or sending their items to the wrong location. Naturally, this leads to inefficiencies and could cost them significant sums of time and money. But with a single version of the truth that creates intelligent insights, many of these issues can be avoided entirely to ensure that businesses always have the right product at the right time and at the right place.

Despite the undeniable benefits that intelligent insights offer businesses, many are still ill-equipped to take advantage of them. For example:

45%

Only 45% of apparel and footwear directors say they have one source of ERP data – meaning they are working with multiple data streams.

86%

86% of apparel and footwear directors still say their #1 internal bottleneck is a lack of visibility over their operations and inventory.

25%

Only 25% of retailers say they have a single view of their customers across all channels.

29%

Just 29% of fashion and retail business decision makers say business intelligence is a key priority for their business.

Here are just a few of the ways you can benefit from business insights…

Better plan collections:

Solutions that offer intelligent insights provide you with product performance metrics, ensuring you can better plan future collections.

Right product, right time, right place:

By analysing intelligent insights, you can better understand your customers and ensure that the right product is offered to the right people at the right time.

Plan container and shipping routing efficiently:

Container and shipping solutions enable you to quickly determine how long each step will take in the delivery process, ensuring that you can plan accordingly.

Trim inefficiencies:

Intelligent insights increase your organisational efficiency and provide you with a holistic view over operations – enabling you to trim inefficiencies at every turn.

K3 is committed to transforming fashion and retail for good, and that’s precisely why we’ve developed solutions that empower businesses to make smarter decisions.

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Optimise your assortment planning:

Our solutions give you key insights into product performance, enabling you to identify which products sell best and optimise your assortment planning for future seasons.

K3 Fashion

K3 Pebblestone

Gain a holistic view of your customers:

Our solutions provide a 360-degree view of customers, enabling you to tailor experiences and ensure the right products are offered to the right customers at the right time.

K3 Fashion

K3 Pebblestone

K3 Imagine

Efficiently route your containers and shipping:

Our solution provides you with updates on where your cargo is at each step of the delivery journey, ensuring you can better plan and maximise efficiency.

K3 Pebblestone