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
"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
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.