Crafting a remarkable customer experience, fostering brand loyalty, and driving sustainable revenue requires a strategic approach to product range selection. Instead of relying on assumptions and short-term fixes, modern category management software embraces comprehensive analytics, customer preferences, lifecycle planning, and streamlined workflows. Your product assortment serves as the bedrock of your retail concept.
The days of manual processes using paper or Microsoft Excel are long gone. The prevailing trend revolves around cutting-edge software solutions that act as virtual assistant advisors. These advanced programs leverage sophisticated algorithms, gather data, perform complex calculations in the background, and furnish you with pre-determined alternatives to facilitate effective decision-making.
TOP 5 unique category management software solutions 2023
1. LEAFIO AI Assortment Performance
https://www.leafio.ai/assortment-performance/
Embarking on our review is LEAFIO Assortment Performance, an exceptional solution specifically tailored to streamline the category management process from planning to matrix output.
From its inception, LEAFIO has been dedicated to optimizing business processes in the retail and supply chain domains. With an astute understanding of the prevalent challenges faced by retailers, our adept developers have accumulated extensive expertise and crafted innovative proposals to address both daily and strategic concerns in the retail sector. By integrating these achievements into our offerings, LEAFIO ensures that our products boast industry-specific functionality that often outshines our competitors.
Highlighted Features of LEAFIO Assortment Performance:
- Comprehensive, Customizable Statistics and Data Analytics:
LEAFIO Assortment Performance excels in managing data and performing deep analytics. It goes beyond mere calculation and visualization, leveraging self-learning capabilities to provide users with intricate statistics and insightful analytics featuring future trends. Equipped with algorithms that generate a plethora of valuable reports, the program assists category managers in making informed decisions. It aids in tracking the sales performance of new products, identifying candidates for removal from the current assortment, pinpointing profit and turnover generators, and much more. Users can dive into specific categories for detailed analysis or generate a comprehensive overview and trends, thanks to the program's well-designed and adaptable structure.
- End-to-End Category Management:
With LEAFIO Assortment Performance, category managers gain access to a comprehensive toolkit that covers the entire spectrum of assortment management. From planning and analysis to adjustment and optimization, the program allows managers to devise and implement strategies tailored to their product categories. Regular comparisons with established plans enable continuous monitoring of achieved results. Additionally, managing the lifecycle of individual products within the assortment becomes effortless, as the system allows for simple and convenient status changes. Serving as an advisor, the program highlights key considerations when altering the status of a product.
- Strategic Assortment Policy Insights:
Leveraging intelligent algorithms, LEAFIO Assortment Performance not only performs detailed calculations and identifies problem areas and positions but also offers valuable suggestions for improving assortment structures. It guides users towards achieving strategic goals and planned indicators by providing a robust base of scenarios and learning from specific cases.
- Automated or Manual Store Cluster Creation and Analysis:
Recognizing that product categories can vary across stores, even within a chain, LEAFIO Assortment Performance introduces an intelligent automatic store clustering function based on adaptable algorithms. Users have the flexibility to group stores manually according to desired parameters.
- Intuitive Interface for Industry Professionals:
In LEAFIO Assortment Performance, simplicity and clarity take center stage, catering specifically to the daily tasks of category managers. The program's interface has been thoughtfully designed, understanding the nuances of a category manager's routine and tested by fellow industry professionals. Managing product statuses within the assortment matrix is seamless, and the dashboard offers a comprehensive and lucid overview. Users can customize the appearance and content of the dashboard and other sections of the program to their preference. Most common tasks can be accomplished in just a few clicks, with the system handling calculations in the background.
Moreover, LEAFIO Assortment Performance seamlessly integrates with external accounting systems, alleviating any potential burdens. The program can store partial data, enabling retailers to embrace a novel approach to category management, even with existing accounting solutions. This accelerates decision-making processes while reducing the cost of automating business operations.
LEAFIO Assortment Performance smoothly interacts with other renowned LEAFIO products, such as LEAFIO Shelf Efficiency and LEAFIO Inventory Optimization. By combining these offerings, retailers can establish a comprehensive and highly efficient supply chain and category management system throughout their retail chain.
2. A² Category & Shopper Insight Platform
https://www.analyse2.com/assortment-planning
- Assortment management across three levels efficiently managing your assortment involves three key levels: macro, category, and item.
- At the macro level, the system aids in optimal allocation of retail space among various product categories, ensuring effective store layout. For large chains, the option to cluster stores based on specific criteria (size, demand characteristics, etc.) provides greater control over assortment management within each cluster.
- At the category level, leverage analytics and suggestions to determine the breadth and structure of product assortments either manually or automatically. This can be done at a chain-wide level, within store clusters, or specific brands. - Assortment optimization aligned with business goals A² Assortment Planning excels at SKU-level optimization by providing demand forecasts and recommending additions or removals based on comprehensive demand and sales analysis. The algorithm, like its LEAFIO counterpart, is self-learning and offers various scenarios to optimize assortments according to current and strategic objectives. By selecting specific goals, such as maximizing profits, streamlining assortments, or launching seasonal promotions, the system presents suitable assortment solutions.
- Strategic shelf space planning aligned with sales targets A² Assortment Planning features a dedicated module for visual shelf space planning, seamlessly integrated with tools for developing sales plans.
This flexible business tool empowers decision-making, offering independence and self-sufficiency. However, it should be noted that, according to some reviews, integration with third-party solutions, particularly ERP systems, may pose difficulties.
3. HIVERY Curate
https://www.hivery.com/
As we proceed with our TOP 5 selection, we now present a concise overview of the offering from Hivery, an Australian-founded company. This program addresses the vital challenges faced by both retail store category managers and suppliers in the industry.
HIVERY Curate stands out for its specific focus on local retail outlets, particularly convenience stores. By catering to these establishments and meticulously considering the preferences of local customers, Hivery has developed a solution that truly resonates within this niche.
With its distinctive approach and commitment to local retail, Hivery's HIVERY Curate promises a tailored and highly effective category management software solution for both retail stores and their trusted suppliers.
HIVERY Curate allows you to:
1) Create a digital store model based on modern technologies and algorithms and change its details according to your current goals;
2) Experiment with fast assortment strategies - the system is able to calculate the possible results of a particular solution in both financial and quantitative terms;
3) Create and establish effective and transparent cooperation with suppliers, both in the case of a specialized store and in the format of a minimarket.
The modeling function of the solution has garnered praise from users, as evident in the positive reviews on G2.com. Additionally, feedback on the company's collaboration can be found across various social networks, further highlighting a favorable perception. Notably, the developer's products are featured on Microsoft's AppSource portal, albeit without reviews. It is worth mentioning that the product range remains somewhat limited, a deliberate choice to cater to a specific target audience. This focused approach has contributed to a well-defined and refined offering.
4. Category management module by Blue Yonder
https://blueyonder.com/solutions/assortment-management
Continuing our comprehensive review of category management solutions in the retail sector, we now turn our attention to a key component of the Luminate Commerce platform. Developed by Blue Yonder, an American company that operates under the umbrella of the multinational conglomerate, Panasonic, this solution offers an expansive array of functionalities.
Leveraging advanced algorithms, the program incorporates key factors such as sales history, seasonality, and various attributes of products within your outlet's assortment. This comprehensive approach enables accurate sales predictions for new products, ultimately providing each store with a meticulously curated assortment structure.
Blue Yonder category management components:
- An integral feature of the solution is the assortment planner, serving as an advisor to managers seeking to optimize localized assortments for specific stores or groups of stores. Additionally, the planning function deserves special mention, allowing users to make informed estimations regarding the potential success of ideas, promotions, and more.
- The second component acts as an intelligent assistant to the category manager, aligning assortment management with broader objectives encompassing finance, marketing, and brand strategies. This cohesive integration ensures that assortment decisions support and contribute to overarching organizational goals.
The Blue Yonder solution has garnered predominantly positive feedback from users, who commend its robust capabilities and extensive coverage of diverse issues. However, it is worth noting that one common concern expressed by users pertains to the relatively lengthy implementation process when deploying the solution on-site. It is important to bear in mind that within the Blue Yonder ecosystem, assortment management represents only one facet of a comprehensive platform offering a multitude of functionalities.
5. Increff Category Management Solution
https://www.increff.com/buying-and-planning/
Concluding our review of the top 5 category management solutions is Increff, a promising young company based in Bangalore, India, embarking on its international expansion journey. With a primary focus on the clothing and footwear industry, Increff recognizes the unique challenges faced by the fashion sector in keeping pace with ever-evolving trends and seasons.
Increff's software product follows a modular approach, with the assortment management module we are particularly interested in closely integrated with the demand analytics module. This integration empowers users to strategically plan and optimize their assortments based on specific objectives. Whether it's conducting sales to clear "dead stock" or aiming to minimize discount-driven sales, which can distort the demand and assortment landscape, Increff's solution provides the necessary tools for effective assortment management.
By leveraging Increff's category management module, you can unlock a range of benefits:
1) Identify NOOS (Never Out of Stock) items: This feature enables you to pinpoint sales leaders that consistently remain in demand over an extended period, eliminating the need for frequent promotions and discounts.
2) Optimize assortment for each outlet: Utilizing product attributes, Increff's solution empowers you to fine-tune and optimize the assortment tailored to the specific needs of individual outlets.
3) Create an effective assortment strategy: Through comprehensive analysis of past sales, income, discounts, and inventory availability, both in the warehouse and display cases, Increff's module assists in crafting a well-balanced assortment by strategically determining the optimal combination of assortment width and depth.
Users of Increff's product have highlighted several key advantages. Firstly, they commend the well-designed and efficiently implemented structure of product attributes, which enables comprehensive management and organization of product data. Additionally, Increff's system excels in constructing a comprehensive and informative database that facilitates effective decision-making.
However, it is worth noting that some users have mentioned certain drawbacks. Specifically, they have expressed concerns about the user interface and dashboards, citing a lack of clarity and full understanding. These user interface aspects may require further improvement to enhance user experience and ensure intuitive navigation throughout the system.
Conclusion
Strategic category management plays a vital role in boosting sales and margins across various channels, leveraging localized customer insights. The key lies in meticulously gathering and analyzing this valuable information to establish an assortment strategy rooted in concrete data and objective facts, rather than relying on mere guesswork and assumptions. Fortunately, contemporary technological solutions serve as invaluable aids in streamlining and enhancing this intricate process.
