Molham Aref, CEOThe fashion industry has a global worth of $1.2 trillion globally and it goes beyond splurging enormous funds on attire and stocking up wardrobes with the latest paraphernalia. A report by Statista predicts that in the U.S., apparel and textile market will hit a $285 billion annual mark in 2025. Fueling this is the influx of various startups, beginning to bootstrap into the textile retail world with limited investments. With the ongoing trends in the fashion world, everyday retailers are making decisions regarding their product portfolio, prices, points of sale and promotional schemes. Assisting retail managements in deriving meaningful information from customer behavior, Predictix incorporates the power of the cloud in prediction analysis, thereby making planning and supply chain decisions.
“At Predictix, we help tier one retailers and brands make better merchandising decisions with our software-as-a-service suite for planning, allocation, assortment and space optimization, pricing, promotions, forecasting, and replenishment,” establishes Molham Aref, CEO, Predictix. A forerunner in providing cloud-native, predictive analytics solutions for retailers, Predictix harnesses the unlimited computing power and elasticity of the cloud to solve the complexities that arise in textile retailing.
A game-changer in the textile arena, the Atlanta, GA headquartered provider enables their customers to tread on deeper waters, by not settling for something that is ‘just good enough’. Predictix enforces a series of strategies that reduce the cumbersomeness of inventory management and improve merchandise availability to meet customer demands. The flagship product—LogicBlox—is the underlying technology platform in their applications that includes feature-rich predictive and prescriptive modules.
Incorporating the three essential functionalities, namely planning and allocation, pricing and promotions and forecasting and replenishment, Predictix delivers an engaging and productive interface through the ‘Merchandising suite’ application. The planning and allocation includes powerful features that planners need on a daily basis for creating dynamic hierarchies, clustering, and reporting. Secondly, pricing and promotion resolves commodity-pricing challenges, by creating a balance between product promotions and market analysis.
We are delivering high-value predictive and prescriptive applications to some of the world's leading retailers
The forecasting and replenishment renders an insight into the market behavior, analyzing hundreds of real-time scenario comparisons, making predictions and actionable recommendations based on the analysis.
Boasting of a very large and prominent clientele, Predictix’s solutions have served five of the top fifteen global retailers and helped them achieve greater heights. One such instance is Harrods, the London based up-market department stores that specializes in apparel, and fashion accessories. The retailer was looking forward to upgrading and polishing their legacy software that helps retailers effectively plan inventories that varied with every shopping season. Predictix’s technology helped luxury brands plan more in-depth and more efficient forecasting processes for each season. Post Predictix’s intervention, Harrods has witnessed more productive results with better returns on investments.
The team that works behind Predictix’s success comprises of seasoned employees who work at the forefront of retail technology, solving challenges that have historically been a source of distress to textile retailers.
Making frequent announcements on collaboration with ideal partners like Marlin, Kinetic and ITC, Predictix realizes its potentials with shared strategic visions for the future. “We are delivering high-value predictive and prescriptive applications to some of the world's leading retailers and will continue to deepen our retail expertise and accelerate our momentum,” assures Aref. The organization is all set to welcome the future stages of innovation, and what it would offer to both its clients and partners.