Release 29

Iris X Release Notes

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

New Version details

User Interface - 5.7.1

Application - 4.19.1

Algorithm - 11.32.1

The current release has been tested and will work better with the Chrome version - 97.0.4692.71.

Summary

• Effective supply chain footprint: Iris can now place adequate inventory at dark stores or regional dispatch centres (DCs) as per the current demand. This will help the brands in improving the TAT to fulfil store orders instead from a centralised location

• Bottom sellers can be removed without compromising on store fill: the new enhancement in the Pullback logic suggests you remove the bottom sellers that are within the planogram and suggest better styles as their replacements if plausible.

• Better tie-breaker logic: While replacing a stocked out style with other styles having the same/similar attributes, Iris will now choose the best style among them based on their ROS at a national level.  The styles are prioritized on their national performance in case of break-evens during allocation.

• No-fuss reorder output: The reorder quantity to be placed with the vendor is now printed in the final output file against each style without having to manually calculate by downloading multiple files from the UI calculated in simple steps now. 

• More accurate benchmark to calculate ROS for reordering:  ROS is calculated only for those SKUs which have seen enough number of days on the floor across a minimum % of stores within the network of that category. This ROS  when used for generating reorders gives more accurate results.

• O2O data visibility- A new vista in BI: Users can toggle between online and offline sales data happening from the same store in Store style performance report and Trend analysis Dashboards.

Get familiar with the new changes/ enhancements

Replenishment of Regional warehouses and potential to handle Dark store distribution.

• Distribution can now handle the Replenishment of warehouses at different Regions from a Central warehouse

• The requirement at the regional warehouse is sensed by the demand at the stores it is servicing, the warehouse cover days,  the warehouse planogram and the reserve quantity set aside for future supply chain requirements.

• This can be also used for the distribution of dark stores (Stores that are huge and can act as small warehouses for nearby stores).

• New upload input Warehouse Planogram is added to the distribution upload section.

• The warehouse cover days has to be updated in the warehouse master in the Master data section.

Improvement in pullbacks logic

• The product will identify the bottom sellers in a store based on recent sales and pull them back from the store.

• These identified styles will be pulled back based on how many of these are replaceable and the rest will be retained at the store.

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Eg: if the store capacity is 100 units and it is overfilled to 150 units and 70 are bottom sellers, then earlier the Iris can suggest only the 50 outside the store capacity to be pulled back, now the Iris will suggest the remaining 20 bottom sellers be pulled back given that they are replaceable with better styles. In case only 15 of them are replaceable, then the best 5 of these 20 bottom sellers will be retained at the store in the last step after the 15 are replaced.

• New Pullback configure section has been added to the distribution module

Overall Revenue per day as tie-breaker for Attribute Group(AG) level break-evens

• The store styles are ranked based on their revenue per day at the stores.

• During allocation at an AG level is styles have the same rank, the overall revenue per day across all stores will be used to break the tie and prioritize the styles

Optimized Reorder quantity formula

• The reorder formula has been simplified and the structure of the algorithm was revised for a simpler calculation.

• When a target store spread is defined, the Reorder quantity will be the difference in Distinct Target sales across all store groups and the sum of Closing stock at all stores, the Closing warehouse stock & Inwards after the lead time.

Store-group Store benchmark in reordering

• While reordering multiple categories in a go, the constraint to calculate store True ROS®- the store group store benchmark percentage was computed against the total number of stores in the store group affecting the True ROS® of categories with limited spread.

• Moving forward the style’s spread will be evaluated against the total number of stores in the store group its category is spread.

Toggle between Online and offline data

• The online and offline data will be stored distinctly going further.

• An Online filter will be introduced in Store style performance reports and Trend analysis.

Value Additions 

More Granular inputs for Dynamic markdown

• Users can give the Style Grouping and Discounting guardrails at the store group level, this was earlier given at a channel level.

Input validations the in Dynamic markdown

• A single store group can now only have a unique channel in the store group input.

Multiple seasons in top seller report

• A style can be seen by any of its multiple seasons in the top seller report. The style will be displayed if the style belongs to any of the seasons that is selected in the season filter. 

Have any Questions?

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