Release - 31

Iris X Release Notes

Following are the enhancements/fixes in Iris X with the latest deployment

New Version details

User Interface - 5.10.0

Application - 4.2.3

Algorithm - 11.35

The current release has been tested and will work best with the Chrome version - 106.0.5249.119.

Summary

• Finer ASP logic: The granularity of calculating the ASP  to arrive at buy quantities just got richer by performing these calculations at store + attribute group level. 

• Reorder your best selling merchandize at size level: Avoid size cuts and stock-outs in your best selling merchandize by placing reorders in the right quantities and sizes based on True ROS

• Have minimum stock at each store with reorders: Reordering will now ensure that at least a single size set is bought for each store for the styles you wish to reorder even if they are slow-moving in some of the stores meet the minimum display 

• Other minor enhancements and fixes to make the product more self usable and increase its performance

Get familiar with the new changes/ enhancements

ASP calculation logic change in buying

• The granularity of the ASP calculation has been increased by calculating it at Store - Attribute Group (AG) level compared to Channel+Region/City level

• In case of a new introduction or re-introduction of AG’s, the ASP is calculated at channel + category level.

• In the case of a new store, the ASP of the reference store will be considered. 

Size level Reordering output

• The reordering output at the style level has been updated to size level by calculating using ISS output. 

• The ISS contribution of each size at a store+AG level is used to calculate the size ROS from the style ROS

• Using this Size level ROS the target sales for the size level is calculated.

• Columns size, EAN and sku level ROS are added in Store and Store Group Report and size, EAN are added in Reordering Quantity Report.

Improved Reorder Quantity Formula

• The Reorder Quantity calculator formula has been revised to also consider the minimum quantity to be maintained when Target Store Spread is given.

• For a style when the target store spread is given the Reorder quantity will be the maximum of minimum cover quantity for the stores that the style is spread to during the lead time and the target sales

• Here, the minimum cover quantity will be the product of the Average size set of the store group and the cover period and the number of stores the style is exposed during the lead time

• For a style for the Stores that it is already exposed to during the lead time the target sales is calculated by adding the target sales across the stores and for the additional stores, it is calculated as a product of store group ROS and the Target cover and the number of additional stores

• The sum of target sales across exposed stores is calculated by using the ROS at each storeEg: For a style with a store group ROS of 0.5, and a buy cover period of 90 days, if the target spread is 100 and the style is exposed to 20 stores during the lead time, for these 20 stores the target sales at the store level are summed(Assume 692) and then for the additional 80 stores it is calculated as 0.5*80*90 =  3600The total Target sales will be 692 + 3600 = 4292

Other Value Additions 

Validation for store group column in Discounting guardrails and Style Grouping inputs

• Validation is added to ensure that the store groups in the ‘Discounting guardrails’ input and the ‘Style grouping’ inputs can only be those store groups that are defined in the store grouping input

Validation for the same reference and new store in Reference Store Mapping

• A store cannot be its own reference store, considering this a Validation error “Same-store cannot be new store and reference store” during upload has been added.

Validation for empty store name in Store master

• This validation will not allow the users to upload the Store master without the store name, this will prevent empty cells in output and BI

Validation for Sell through benchmarks in Dynamic markdown

• Validation for the Sell through Benchmarks configuration preventing High Sell through benchmark to be lower than the medium sell through benchmark is added

• Name and description of ‘Sell through Percentile Benchmarks’ are now changed to ‘Sell through Percentage Benchmarks

Sales simulation(Depletion) for new stores

• During depletion, the sales will be simulated and projected for the new stores along with the allocation of stock happening currently

• The New store’s sales for the styles allocated to it during the depletion will be simulated based on the ROS for that style from the reference store.

• Similarly while reordering the size set considered for the styles in the New store will be the same as the reference store.

• While reordering, if the New and Reference stores are in different store groups then the ROS for the New store will be calculated based on its sales.

Have any Questions?

Please feel free to contact your account manager if you have any queries.