Atlanta -- Harrods is implementing a series of merchandise planning applications from Predictix. The software is being rolled out for Harrods' Knightsbridge store, as well as its airport locations and online site.
Harrods recognized a need to upgrade its current planning system to allow for more in-depth and more efficient forecasting processes.
"The Predictix application was very flexible in presenting information to the users, and it provided detailed forecasts by season and merchandise class, with far more measures than before,” said Rupert Symes, merchandise director, Harrods. “In addition, the Predictix cloud-delivered model -- with no hardware or software to buy and no long-term commitments -- proved compelling for Harrods.
With the Predictix Merchandise Financial Planning application, Harrods can set financial performance goals prior to each fashion season, adjust budget parameters, and then buy according to the plan. The software then gives Harrods the agility to review critical performance data each week, determine what adjustments are needed in order to meet financial targets, and instantly adjust the merchandise forecast.
The Predictix planning applications will leverage Harrods' existing IT applications, including SAP's data warehousing tool, and provide the retailer with a number of key business benefits, including fast insight into inventory, fewer out-of-stocks and increased merchandising productivity.