Retailers and ecommerce companies have spent considerable sums on inventory management, filling customer orders from multiple shipping points. Your company can benefit by adopting a strategic approach to optimizing inventory that will help maximize sales and profits and improve customer service.
Meeting the challenge of inventory planning and forecasting revolves around the ability to process and manage continuous data uptake. The solution today and in the future is all about processing speed and power, and the ability to see patterns as they appear.
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.
To compete and succeed today, think of supply chain planning as significantly more than replenishment. One critical area is collaborative demand planning with your supplier partners. Here are some steps you can take to create and sustain a collaborative process that is mutually beneficial.
As organizations begin to strategize for the year ahead, retailers and consumer product companies looking to thrive in the digital era know it’s pivotal to incorporate new technologies into their business. Here is how organizations now have a 360-degree view of the supply chain.
Logility, Inc., a provider of collaborative supply chain optimization and retail planning solutions, has acquired Halo Business Intelligence and its advanced analytics and business intelligence capabilities for supply chains.
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.
For lighting, furniture and home décor wholesale manufacturer Regina Andrew Design, having all of its inventory data on one system was important to the success of its business. Here is how it streamlined its inventory data to cater to both B2B and B2C customers.