Introduction of Assortment Planning as Part of JustEnough's Suite of Solutions
JustEnough has long been aware of the struggle between art and science when it comes to Merchandise & Assortment Planning. As CEO, I've seen time and time again companies struggle to balance the art of their planners' buying knowledge with the science of statistical algorithms. And while there were some solutions already out in the market, they were costly with tedious and lengthy implementation timelines.
In response to the need for a more affordable and easier to implement solution, we launched our Merchandise & Assortment Planning module. Through this module, JustEnough helps buyers create the correct mix of products and sizes by providing the insight to purchase products for stores that are most likely to sell them. In turn, this leads to increased margin as well as reduced overbuying that can avoid end-of-season mark downs. Companies such as Levi's Asia Pacific Division have already begun to see results in less than six months of using the module.
Increased Recognition Among Analysts
2009 was also a year when JustEnough leaped in gaining awareness among research analysts such as AMR Research, Gartner and Aberdeen. These researchers recognize that our simple yet effective approach to demand forecasting and planning is one that's worthy of a second glance. This increased recognition is partially responsible for the increase of people are spending more time on our website, up 11.42% from last year. Plus, the number of people reaching out to contact us has jumped a whopping 264%. We only expect this to increase as we begin participating in webcasts and contributing more often to analysts' research.
Looking Towards 2010
Has it sunk in yet that the turn of the decade is less than a month away? What is your business planning for 2010? In regards to the economy, the National Association for Business Economists boosted projections for economic growth in 2010, saying growth for the year will reach 3.2% fueled mainly by housing, corporate profits and business investment. We expect our business to grow in 2010, as we continue to gain market share in North America and across the Asia Pacific region.
Here is just a taste of what we have in store for 2010:
- JustEnough plans to expand both our North American and Asian operations by opening new offices in first quarter 2010. Our new North American office will be located in Los Angeles, California to help us better serve our West Coast based customers and prospects and will mirror our existing facilities in North Carolina serving the East coast. The first of our Asian offices will be located in Sydney, Australia to support our growing base of clients in the eastern time zones.
- In early 2010, we'll enter a new space by debuting a cloud-based Sales Forecasting application that you can purchase online... and begin using immediately. This app will allow online capture and manipulation of the multiple forecasts that are used to compile and create sales forecasts, as well as help eliminate the messy myriad of spreadsheets that proliferate today. The Sales Forecasting solution will also be available to purchase for the OnSite and OnDemand platforms. Our first iteration of the cloud-based application will be available for companies who use NetSuite. We are currently looking for companies who use NetSuite to be part of a beta test group that starts in January. If you're interested in participating, email info@justenough.com and we'll send more information. Companies accepted into the beta program will receive FREE use of the application for up to three users for an entire year.
- In the second quarter of 2010 we will be launching the first modules of an overall offering to integrate price and revenue optimization into our existing planning and execution suite. The first modules will provide probability-based pricing algorithms to optimize end-of-season mark downs that will result in improved average selling prices and gross margin across the life cycle. Subsequent modules will focus on full life cycle pricing and provide an e-commerce probability-based selling capability.
If you'd like to keep up with the latest news as these initiatives develop, then subscribe to our RSS feed or join our LinkedIn group.
In Conclusion
I'd like to close with a note of thanks. To our employees, thanks for being dedicated to providing our customers with brilliant service, leadership and support. To our readers, thanks for reading our newsletter and sending us your thoughts and feedback. To our customers, thanks for your loyal business and continued support. All of JustEnough's 2009 successes are due to a combination of all of you – I thank you and look forward to a prosperous and successful 2010.
2009 Year in Review: A Message from the CEO