Demand management software vendor DemandTec, Inc. will host an interactive webcast to discuss how retailers can improve business performance by managing the demand chain from promotion through inventory.
Titled "Best Practices in Managing an End-to-End Promotion Process," the webcast will instruct retailers on three key areas: how to use an integrated promotion process that leverages collaboration and advanced science to create the best promotional offer; using an integrated workflow to deliver that offer to the right consumer at the right time; and integrating demand and supply forecasts to ensure that sufficient inventory is on hand to meet promotional demand.
"Today, retailers are facing consumer belt tightening and dwindling advertising budgets. This means they need to get more out of every marketing dollar by ensuring that every promotion they run hits the target. This kind of effectiveness requires getting local, and targeting specific consumer segments with relevant messages," says Elizabeth Magill, senior manager of retail industry marketing at San Carlos, Calif.-based DemandTec. "Our webinar provides a framework for overcoming these challenges with a closed-loop process for managing promotions from beginning to end—from strategy and planning through execution and evaluation."
The Webinar, scheduled to be held live Wednesday, May 14, at 11 a.m. PST/2 p.m. EST, will feature Demandtec's Magill as well as Daniel Moe, author of "Retail: The Art and Science" and former VP of merchandising operations and pricing at Best Buy. Susan Reda, executive director, STORES Magazine, will moderate the webcast.
The event is part of DemandTec's nextGEN Webinar Series, which it developed to help inform retailers about the next generation of merchandising and marketing optimization. The first webcast in the series is now available on demand at www.demandtec.com/assort.
Future webcasts in the series include:
• Lifecycle Price Optimization: How to strategically price every item in the store and achieve enhanced customer loyalty and improved financial performance
• Retailer/Manufacturer Collaboration: How to leverage a common understanding of consumer demand and shopper insights to create win-win plans while also reducing costly inefficiencies between trading partners
• Shopper Insights at the Point of Decision: How to leverage segmentation and other shopper insights directly while optimizing pricing, promotions, and assortments
• Private Label: How to use shopper insights, category insights and merchandising optimization software to drive your private label strategy
To join the webcast, visit www.demandtec.com.
Source: Progressive Grocer