“A growing number of leading retail chains have realized weather-adjusted demand planning is the single greatest actionable lever they can pull to better anticipate consumer spending and improve profit,” said Mr. Bushnell.
Berwyn, PA (PRWEB) October 08, 2015
Planalytics, the leading provider of weather analytics for consumer-focused businesses, announced that Rick Bushnell has joined the company as Senior Vice President of Global Sales. Mr. Bushnell will focus on expanding the adoption of Planalytics’ WeatherizationSM, a solution which helps retailers proactively and systematically manage the opportunities and risks created by never-ending weather volatility.
Understanding, quantifying, and managing weather’s impact across a retail business remains a huge, untapped area for profit enhancement. Mother Nature’s influence on consumer buying behavior is widespread and has a significant influence on sales and profit margins. Retailers typically see 2-8% of their total annual revenue affected by the weather with larger sales swings (15-40%) common for highly seasonal categories. Since many retailers fail to identify and account for the weather variability that is embedded in the previous year’s sales, they end up basing plans on weather-skewed data and unintentionally increasing the error in their business forecasts.
“A growing number of leading retail chains have realized weather-adjusted demand planning is the single greatest actionable lever they can pull to better anticipate consumer spending and improve profit,” said Mr. Bushnell. “Those that have not are now caught explaining to the Street the financial ramifications of using traditional methods of planning.”
Planalytics’ research, which is based on the detailed analysis of more than 10 trillion sales transactions across thousands of product categories, exposes the fault line retailers unknowingly position themselves on when they ignore the weather. The reality is that weather and its sales impacts across a business only repeat about 15% from one year to the next. “If a company uses last year’s sales in its planning process and they don’t factor in when, where, and how much the weather helped or hurt, they are essentially assuming conditions will be the same,” explained Planalytics’ President, Scott Bernhardt. “Odds are very likely the weather will not repeat and forecast accuracy will suffer. There will be lost sales, inefficiencies, and inventory and operational costs will rise as a result.”
Planalytics helps retailers weatherize® their business by first stripping weather volatility out of historical sales results. Planalytics then provides weather-driven demand calculations that correct the data distortions caused by meteorological anomalies and extremes to create a cleansed and improved baseline for planning.
“Rick brings a strong strategic vision to Planalytics and a successful background in leading and growing the commercial operations of innovative technology companies,” said Mr. Bernhardt. “More retailers are recognizing the hidden costs of weather volatility and are looking to us to analyze their data and identify the profit they can recapture each year. Rick will be instrumental in guiding retailers along the Weatherization path and demonstrating the value.”
Mr. Bushnell was most recently with Elemica, a supply chain operating network, and has exceled in management and business development positions with innovative firms. He has extensive experience helping executives deliver step-wise change into their organizations across functions including, supply, operation, demand, and logistics. Mr. Bushnell remarked that he was “delighted to join such a dynamic and talented team, leading the world in the application of weather analytics.”
About Planalytics Inc.
Planalytics, Inc. (http://www.planalytics.com) is the global leader in Business Weather Intelligence®. Through advanced weather analysis technologies, planning and optimization solutions and industry-specific expertise, Planalytics helps companies accurately assess and measure weather-driven impacts and effectively manage the never-ending variability of climate. Leading retailers, consumer goods suppliers, restaurants and service companies use Planalytics to “weatherize their business”, taking advantage of opportunities to increase revenue while deploying strategies to reduce costs and protect margins during periods of risk.