Enhanced Retail Solutions (ERS)
AI-Enabled Solutions for Forecasting and Inventory Management

In the retail and manufacturing industry, it is crucial to collect, analyze, report and make decisions on inventory data. However, many companies struggle to collect information because it comes in various formats and from different sources. In addition, businesses have difficulty managing inventory due to their inability to interpret data and forecast which products will sell, when, and where. While some solution providers offer software to address these issues, they often fail to provide the necessary consulting expertise, leaving companies to draw their own conclusions. Enhanced Retail Solutions (ERS) was established to address these challenges.

A service-oriented business, ERS aims to help retailers, suppliers, and brands turn inventory faster, forecast more accurately, and provide deeper visibility into sales. "We help clients gather all the information on one platform and make it accessible for use in ways they see fit," says Jim Lewis, founder and CEO of ERS. With its team expertise, flexibility, and hybrid business model, ERS has a distinct edge over other players in the market.

ERS provides software solutions like demand planning and point of sale (POS) reporting to clients. It also offers a full-service consulting model where it acts as a client's planning department, operating the system and providing data interpretation. Working with ERS gives clients a competitive advantage as they gain access to its team's expertise, which is well-versed in interpreting data and managing inventory for the company's benefit.

Although a majority of ERS's customers are brands and manufacturers that supply retailers, it also assists retailers. It offers three major services to its clients:

1. AI-enabled POS reporting- It assists clients in identifying trends and the performance of their products by providing insights on sales, inventory levels, lost sales, and data interpretation.
2. Demand planning/Vendor-Managed Inventory- It has a smart system that uses AI capabilities to foretell which stores will run out of goods and require replenishment. This helps reduce inventory investments and shorten lead times.

3. Custom project/software development- It can create a multitude of applications including customized allocation and planning systems for clients at a lower cost than the market.

ERS also offers an AI-type system called RetailNarrative, which reads through millions of rows of data, looking for liabilities and opportunities a client's team would not have time to find.

RetailNarrative system’s success in the retail sector is evident by the fact that, for many of ERS's clients, the system analyzed that inventory was excessive and recommended adjustments. In one specific example, it recommended reducing inventory by 20 percent. After some initial hesitation, the client agreed to it. Consequently, their sales increased by 20 percent, and profits and sales increased while inventory capital costs drastically reduced. Due to the benefits they earn with ERS, a majority of its clients have been collaborating with it for ten years, while some have been onboard since its inception 20 years ago. Of the many visualization tools available, it has customized and curated Microsoft Power BI, using it to deliver most of the reports instead of spreadsheets.

In the long run, ERS is the best solution partner because it provides a broad range of solutions and is adaptable enough to serve clients of all sizes, from multibillion-dollar corporations to small-chain retailers.