In an omnichannel world where fulfillment has become an increasingly complex proposition, order sourcing is a critical success factor for any merchant organization. Alex Volakis, senior omnichannel strategy analyst with Abercrombie & Fitch, provides key insights into the tools, processes and practices that help the company optimize its sourcing strategy in the latest MCM CommerceChat podcast.
Due in large part to inventory management issues around the critical holiday period, Walmart reported a serious slowdown in its booming ecommerce growth during the fourth quarter, which increased 23% compared to a 50% gain a year earlier. See what these challenges were for Walmart and what it meant for sales in the fourth quarter.
Big data analysis has revolutionized the understanding of customer demand, providing visibility and precision for inventory planning on a whole new level. Now you can not only better understand what influences buying behavior but begin predicting what and when customers will buy with unprecedented accuracy.
Every day, small and midsize businesses face inventory risks that, if left unmanaged, can negatively impact the bottom line. However, these issues can often be diagnosed well in advance with the right preparation. Asking your team the following questions can help you accurately gauge the health of your inventory management processes.