7 Critical Reasons Why Retailers Must Manage Multichannel Information as it Happens
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Reason No. 2: Reduce operating costs. Studies have found that merchants generally have accurate inventory information on only 35 percent of their items. This results in lost sales, unacceptable levels of obsolete inventory and high carrying costs. Product returns are another challenge, as the value of product returns now exceeds $100 billion annually according to one report. A full-cycle information management strategy and process can help reduce product returns while improving inventory accuracy, optimizing inventory levels and reducing carrying costs. It can also reduce product onboarding costs by helping companies avoid errors and inconsistencies in product and vendor data.
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Mikael Lyngsø
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