Table of Contents Why Accurate Stock Forecasting Is A Top Priority Achieving the right stock level is a delicate balance, and there is a huge pressure to get it right. Despite being a top priority, forecasting often falls short, which results in avoidable losses and waste.The cost of inadequate inventory forecasting is a growth-killer, and
Last week, I attended a webinar, titled: Retail buying in uncertain times, aimed at multi-brand retailers of fashion and sporting goods. Multi-brand retailers buy from the brands and sell to consumers in a seasonal rhythm, where a season lasts roughly 26 weeks, including the sale period, where ‘everything must go’. The cash to cash cycle between concept and
When I write this, most brick and mortar retail locations we serve are closed and we, like our clients, are having to deal with a significant drop in monthly revenue and have taken necessary steps to reduce expenses and preserve cash positions. At Retailisation, we renamed ‘customer success’ to ‘customer care’ and are preparing for
Introduction The current interest in artificial intelligence and machine learning has been generated by advances in computer technology and the abundance of data. Applications of this new technology are well known to be part of the operations of tech giants such as Google, Facebook, Linkedin, etc. But what about the retail industry? In this article,
While working as a merchandiser for big brands and retailers, I learned that work was never ‘done’. Seasons and deadlines came and went, and plans were made and beaten – most of the time ;-). We would look for market signals and make decisions on how to interpret them and then on how to act.
In one of my previous blogs, I explained that the biggest dilemma of retail inventory management is ‘to ship or not to ship’. Too much inventory leads to markdowns and unnecessary employment of capital and too little leads to lost sales and erosion of market share. Since then, I have received several questions about how
The goal of any inventory management process is to increase the output of a system while keeping investment and operating expenses under control. In a factory, this translates into increasing production while reducing work in progress. For retailers, it means increasing sales while controlling merchandise on hand. Here is the dilemma: in order to increase sales, you need enough inventory to beat the
To ship or not to ship, that is the question. Should you drive inventory levels down to increase shareholder value with great ROI but run the risk of being out of stock? Or, do you stack inventory high with hopes of selling more but risk having to mark it down at the end of the
Brick and mortar shops will always be able to satisfy our senses better than web-shops. Add platform technology for inventory management and you will have a sustainable competitive advantage over e-commerce. In the Netherlands, when we celebrate our birthdays, we serve a birthday cake. We usually buy a cake that everybody will like. Or we
We are pleased to announce the launch of Goods on Tap, our inventory management App for retail operations. The App complements our distribution management services (DMS). It will be available for download from the App store soon. Retailers (and store managers too) will use the App to: – have continuous insight into store & category