“ When I came into this industry 20 years ago, the big issue was smaller operators, one, two, five- store operators had no access to their own data. When we thought of data, we thought of it being something not meant for us; only meant for the big players. Babir Sultan , President, FavTrip
Data-Driven Inventory Management The meeting’s next presenter was CxVG member Babir Sultan of FavTrip, a twelve-store company (four owned and eight leased) located in Kansas City, Missouri. Sultan demonstrated how he uses data analysis tools in his four company-operated stores, including both commercial software and free AI applications, to optimize inventory management. Initially, he thought meaningful data analysis was unobtainable, noting that monthly fees for data systems often put it out of reach for small operators. But he now believes that disruption in the market has changed that landscape. He repeatedly emphasized that every operator should be in control of their own data and with all of the new programs available, a little imagination can take data to new levels. Sultan emphasized his desire to steer away from gut-feeling decision-mak- ing to data-driven operational management. He demonstrated how FavTrip uses Modisoft software to track inventory, set minimum and maximum levels, and stay ahead of vendor price changes. One particularly powerful analysis Sultan demonstrated was how FavTrip identifies items that cannot be out of stock at any store which he calls their “Top 10 Forbidden Items.” These high-priority items are identified through sales data analysis. He explains, “Internally, we call out some of these products per department. They’re forbidden items that we cannot be out of in any particular store, whether it’s 44-ounce fountain drinks or a Cheyenne brand. It’s based on sales. We will go out of our way to find Monster Green. Our main distributor, which is Coca-Cola, may deliver only once a week or
maybe once in two weeks. I tell my staff, our customers don’t care if the vendor comes in two days. All they care about is getting their product. As a retailer, it’s our job to do everything within our power to make sure we don’t run out of at least the common products that we should carry.” Sultan showcased how FavTrip leverages free AI tools like ChatGPT to analyze and visualize data. He demonstrated a live example using a month’s worth of transaction data for vape products. Within minutes, ChatGPT produced a clear visualization of top-selling items that could be easily understood by staff members, especially younger generations.
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