A Digital Transformation for Store Space Management
Retailers must juggle multiple stakeholders and their expectations while growing their own retail profit. With increasing space constraint, shelf planning has become a central aspect of achieving this harmony. Shock events have added to the complexity of shelf planning with the growing basket size of essential goods and social distancing norms.
THE PROBLEM
One of the world’s largest retailers was following a tedious process for shelf planning and review. They were spending substantial time, effort, and resources on re-creating encrypted 2D planograms and reviewing them.
Their initial ask was a 3D visualization tool for the encrypted 2D planograms. We delivered a complete digital transformation of the planning process integrated with performance intelligence.
THE MU SIGMA APPROACH
Using a unique problem-solving mindset, Mu Sigma deployed automation and data intelligence to deliver a solution – the Virtual Interactive Shelf Planner (VISP). VISP is a virtual 3D platform where one can view, review, alter, and compare planograms.
Empowered with data-driven planogram/category performance comparisons, it moves the entire process of shelf planning to a virtual platform, accessible remotely by various stakeholders. It saves them time, resources, and the need for manual intervention or physical proximity.
THE IMPACT
VISP created a first-mover advantage for this retail leader that set them ages ahead of the competition and strengthened their overall assortment planning capability. On the tactical front, it saved 1M+ in annual costs and over 70% in time.