IFS helps retailers face changes

Consumer behaviour is changing rapidly and so does the need for retailers to adapt their operations to these changes such as their supply chain.

"The traditional approach of having all inventories in a store and holding a small inventory for online sales does not meet the increasing demand of tomorrow's consumers," a spokesman for IFS said.

"New consumer behaviour requires real time applications. Consumers are harder to please and retailers should combine online sales seamlessly with offline sales and manage the retail inventory to increase sales. They should be able to plan better, forecast sales and inventory, even on colour schemes," he said.

The IFS has introduced a software tool which is a real-time ERP system which enables retailers to know where the products are, in real time thus integrating the online channels seamlessly with the offline channels.

IFS has also recently released its latest version of its ASR tool (Assortment Sourcing and Replenishment) giving retailers a tool to hold inventory back and source it to the channels where it is sold.