Nextail is a cloud-based software that uses advanced analytics, optimization and artificial intelligence to improve inventory allocation and store operations. Nextail DNA is in fast-fashion. Our product is democratizing the operational practices of fast-fashion by making them available to ANY retailer. It is what we call the agile retail revolution.
The results? From a retailer point of view, a direct impact in the top and bottom line. Our clients experience sales uplifts up to 5%, thanks to an improvement in availability (stock-outs are reduced by up to 60%), at the same time that store coverage is reduced by up to 30%. The final result is an increase in the return on inventory investment with the retailer selling more at full price and minimizing end of season leftovers. From a customer perspective, no more disappointed clients who cannot find what they want.
Our product currently has three modules:
• First Product Allocation – By identifying demand patterns on similar products found through computer vision techniques, we optimize how many units to send initially to stores.
• Dynamic Replenishment – Our optimization algorithms maximize sales probability across the network, calculating daily replenishment to the stores
• Store Transfer: We predict non-replenishable out-of stocks and rebalance stock among the stores of a region to boost sales at the end of the life-cycle of each product. We call it the Robin Hood approach, taking overstock from non-efficient stores and giving it to those stores in need.
Additionally, our Smart Business Intelligence transforms the way retailers deal with data and KPIs and our Store Mobile App acts as a bidirectional communication channel to seamlessly gather feedback from the field and empower Store Managers.
If this is not enough, we are expecting to release a new module in Q1 2018 to solve one of the most challenging decisions that any retailer takes every season: How many units to buy of each product.
Finally, as a company that preaches about agility, our integrations couldn’t be anything but superfast. Our record is set at 3 days and our average integration takes around 3 weeks.