The Navy Exchange Service Command (NEXCOM) has selected the retail analytic and business intelligence (BI) application from QuantiSense for its global network of nearly 300 stores and 1,200 service operations across 104 naval installations.
The retail-specific application will help NEXCOM reduce overstocks, manage its margins and better understand the flow of product and how much inventory is needed in each location at any given time.
Some of NEXCOMâ‚¬s products, for example, are required to be in stock over 90 percent of the time, so maintaining that level without bloating the inventory with overstocks is a significant ongoing challenge.
The solution will also allow NEXCOM to determine market basket affinities down to the store level, which can be difficult because of its disparate geographical locations and diverse product offerings. Additionally, market basket analytics will help NEXCOM determine the success of each store promotion.
A $2.5 billion worldwide chain of retail stores and Navy lodges, NEXCOM offers a wide variety of products and services for active-duty sailors, reservists, retirees and their family members.