Inventory Management

Set Yourself Up for Retail Success in 2020 With Proper Fulfillment Planning
January 17, 2020 at 9:19 am

The rush of the holiday season has passed and your retail business is ready to dive headfirst into 2020 sales. If, like most retailers, you're planning to make this your best year yet, you're probably looking to significantly increase your volume of orders. It's a noble aspiration, however, if you're unprepared to meet these ever-growing…

Leveraging AI This Holiday Season
November 25, 2019 at 1:03 pm

For most retailers, holiday — also known as the golden quarter — is the make-or-break season. Retailers have been preparing for the upcoming holiday season for months, and for good reason. The period between Black Friday and Christmas can represent a significant chunk of sales revenue for a retailer. In 2018, consumers spent nearly $1…

The Rush to Real-Time Data: Automation Powers Next-Generation Retail Insights
October 10, 2019 at 9:46 am

In today’s digital world, data is worth its proverbial weight in gold. However, it’s not enough for retailers to just collect data to win the retail wars; they need to have a strategy to distill and apply insights from the data. For example, inventory data is particularly ripe for strategic use. By synthesizing information about…

How to Make Unified Retail Work
September 10, 2019 at 9:51 am

With digital technology changing almost all aspects of our lives, it's not surprising that traditional retailing is being turned on its head. The familiar model that funnels customers along a linear path to buying is giving way to an exciting new paradigm of placing the individual at the center of a unified field of purchasing…

Tips for Effectively Managing Seasonal Inventory
August 21, 2019 at 1:04 pm

While the supply chains of all industries come with their share of challenges, seasonal suppliers face a particularly unique set of obstacles. Today, there are many companies that experience a recognizable “busy season” where spikes in customer demand occur. These periods typically fall around a major holiday or event such as Christmas, where certain retailers…

Back-to-School a Big Opportunity for Retailers to Impress
August 8, 2019 at 10:23 am

Back-to-school (BTS) is a critically important selling period — and an opportunity to connect with shoppers before the holiday season. In a recently completed shopper survey, BRG Retail found consumers consistent in their expectations for BTS shopping, presenting a golden opportunity for retailers to strengthen their connection to customers. In the survey, we asked how…

Total Retail's 2019 Retail Technology Report: Omnichannel Technology Spending on the Rise
July 31, 2019 at 11:17 am

Due to the cross-channel behavior of today’s consumers, shifting from channel to channel and device to device in the same purchase journey, retailers and brands are spending more of their technology budgets on systems and solutions that enable omnichannel operations — e.g., order and inventory management systems. At the same time, they've yet to fully…

How Predictive Analytics Improve Inventory Allocation, Order Fulfillment at Lucky Brand
July 15, 2019 at 11:15 am

In episode 204 of Total Retail Talks, Executive Editor Joe Keenan interviews Mike Relich, chief operating officer at Lucky Brand, a denim and fashion brand for men, women, and kids. Listen in as they discuss Lucky Brand's use of predictive analytics to improve inventory allocation across channels (store, web, wholesale), touching specifically on Lucky Brand's partnership with…

Machine Learning is Important, But So is an Intelligent, Collaborative Team
June 20, 2019 at 12:20 pm

Traditionally, stocking inventory has required many systems and spreadsheets in order to place goods in stores and fulfillment centers. These outdated, manual processes are standing in the way of real progress. So how can retailers fix this? Adopting advanced technology is important, but retailers must first look to good business processes before they race to…

Keeping Up With Customer Demand Through Data-Driven Forecasting
June 18, 2019 at 11:58 am

Fine-tuning inventory levels to meet changing customer preferences is a constant battle for wholesalers, and today’s fast-moving omnichannel environment is making that calculus even more complex. As they develop their purchasing plans, businesses are facing a bevy of uncertainties: E-commerce now accounts for 10 percent of total retail sales, requiring organizations across nearly every industry…