Revionics Inc., a provider of full lifecycle price-optimization and consumer demand-management software, announced the launch of RAPS Replenishment in advance of the National Retail Federation (NRF) Big Show in New York City, January 10-14. RAPS Replenishment, the newest capability in the Revionics Advanced Pricing System (RAPS), is a comprehensive inventory-management and order-optimization solution that leverages the power of Revionics' integrated demand forecasting. The system is highly scalable, serving retailers of all sizes and lines of trade, and is offered on a Software-as-a-Service (SaaS) platform.
According to a press releasefrom Revionics, retailers can expect to benefit from the RAPS Replenishment system with a reduction in store-level inventory by 20 percent to 30 percent, fewer lost sales due to out-of-stock incidents, and lower shrink and spoils, while improving stock rotation.
The RAPS Replenishment system includes three primary components:
- Inventory management: This component maintains store-level perpetual inventory. It offers a fully integrated receiving system capable of tracking inbound shipments from the warehouse or from DSD vendors. The solution also integrates with POS systems or back-office systems to monitor sales on either a trickle feed or periodic batch basis. RAPS Replenishment supports physical inventory counting as well as computer-directed cycle counting.
- Forecasting and optimization: This component generates optimal order quantities based on integrated forecasting, inventory levels and a real-time recognition of order status.
- Order management: This component produces Computer Generated Orders (CGO) or Computer Assisted Orders (CAO) that allow the user to review and modify order quantities before submission. The system also supports manual order entry through customer-defined order templates. Retailers can consolidate or parse orders to separate vendors, track order status and manage changes.
According to the release, RAPS Replenishment can be deployed as a standalone suite or together with the Revionics price, promotion and markdown optimization modules. It also can be integrated with other third-party modules that a retailer may already have installed.
