What is a WSSI?
WSSI Definition: WSSI is an abbreviation for ‘weekly sales, stock and intake’. It’s a merchandising tool that calculates and reports on levels of current and future sales and stock, and is crucial to the day-to-day running of any retail business.
A WSSI compiles information that shows actual sales made and up-to-date stock levels. This, with the ability to forecast key variables such as sales, markdown and receipts, enables future stock levels to be calculated and compared to targets, ensuring that stock levels are efficiently managed so aiding retailers to make critical decisions that control and optimise sales.
Why use a WSSI?
A WSSI is an essential tool for stock and open-to-buy management. It enables merchandisers to manage their inventory, allowing teams to make decisions based on sales forecasting, stock data and exact sales information in real time. This helps the retailer determine how much stock is required and when, by generating what is known as Open to Buy. This enables a review of sales performance, with a key output being the difference between ideal stock and calculated forecast stock.
With many challenges they face, retailers need to be right more often.
Our WSSI offering helps retailers to:
- Avoid under-buying in on-trend areas, giving lost sales
- Avoid over-buying, leading to high markdowns and lost opportunities
- Reduce the reliance of key indivduals and user error by removing the dependence on spreadsheets
- Forward plan, resulting in having the right amount of stock at the right time, with the opportunity to improve profits
- Run in-season monitoring and reforecasting, allowing the future effects of previous weekly sales and receipts to be seen and informed decisions taken on actions
- Avoid key issues, such as late deliveries, missing sales targets, out-of-stock items and high terminal stock positions.
Our WSSI offering delivers automatic data updates, saving your business time and effort. Guaranteeing consistency of data, our WSSI offering provides a reliable, accurate, time-saving and comprehensive facility that will improve performance and, subsequently, profit. With our offering, merchandising teams can be right more often.
Our WSSI Offering
With rising costs in the retail industry – be it via business rates, exchange rates, or supplier costs – all reducing margins and profits – we understand the critical need for continual improvements and efficiencies that businesses must evolve through just to keep trading.
With this in mind, we believe that flexibility is key to a dependable WSSI; our WSSI offering allows merchandisers to view multiple years and seasons in one plan, whilst also being able to view data by retail value, units, cost and margin, allowing teams to plan seasonally. With these flexible views and exports, teams can deliver key-line planning that is co-ordinated with store and channel planning, while also being empowered to change and adapt to in-season demand and trends.
With our WSSI offering, get the right amount of product, in the right place, at the right time.