Inventory Management

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…

Long Unsung, Chief Merchants Are Critical in the Age of AI
May 30, 2019 at 9:34 am

These days there's no shortage of additions to the C-suite. Creative job titles abound, and roles that didn’t exist a decade ago like chief experience officer or chief digital officer are becoming more common. The choice to add these positions to the decision-making table reflects the core value of these functions. Companies are realizing that…

Survey: Automation is the Key to Retailers’ Success
May 9, 2019 at 11:00 am

The retail industry is at a critical inflection point. The biggest brick-and-mortar stores are facing significant external pressures, and today’s customers have come to expect a seamless omnichannel shopping experience, every time. To better understand how retailers are faring in this uncharted retail era, Bossa Nova partnered with Wakefield Research to survey corporate retail professionals…