STUDENT’S NAME: ABHISHEK KUMAR JHA & PRAFULLA KR. RAJU
Project Title: Development of Integrated software of sales forecasting
Project Guide:Mr.J.P.Behera and Mr.Amitava Choudhury
Background: The need for predicting the sales of a store and its merchandising planning are very important for a store for its retail growth and to effectively manage the store resources. Big retail store have forecasting and merchandising software but they are expensive which the smaller stores cannot achieve. So, the project was taken up to develop a forecasting and merchandising software for small retailers.
Objective:The project software developed was named MERCHANT++. It would help retailers to grow by forecasting their sales & managing their merchandising budget by using 6 month merchandising tool. It would help retail stores to determine their planned sales, BOM stock, retail reductions, purchases at cost, purchases at retail, markup, and gross margin
Methodology:Market Survey of proposed software
Study of 6-month merchandising tool
Comparative study of forecasting models
Findings: A Sales forecasting and merchandising software was developed which would enable the small retailers to plan sales and merchandising plan enabling them to purchase at lower cost and improve the gross margin.
Conclusion: Merchant++, software developed was praised by PARICHAY. But, to make it fully commercial more features need to be added. This will take more time & effort.