Inventory Management

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 These outdated, manual processes are standing in the way of real progress.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…

The Year of Customer Profit: What 2018 Foreshadows for 2019’s Retail Reality
April 11, 2019 at 12:47 pm

The good news is that 2018 showed progress for retailers in several significant ways. DynamicAction’s Retail Index: 2018 Year in Review & 2019 Outlook demonstrates North American retailers exercised more restraint on promotions and improved their inventory value and consumer-driven curation in 2018. It’s a big step in the right direction, but it's just one of many…

Hidden Costs of Poor Inventory Management
April 5, 2019 at 10:17 am

Questionable inventory planning decisions cost U.S. retailers big in 2018. How much exactly? A staggering $300 billion in revenues due to markdowns, according to a new report by Celect and Coresight Research, Revealing the Hidden Costs of Poor Inventory Management. Retailers face an array of challenges around managing their inventories in today’s competitive market. Surveying…

Tariffs and Inflation: A Good Time to Forward-Buy Inventory? (Part 2)
March 11, 2019 at 11:14 am

In part one of this series, I looked at how retailers can and should prepare to forward-buy inventory, the pros and cons of the practice, and the factors (i.e., inflation, tariffs) that led the industry to this point. The Tariff Effect Technology is the only way to effectively gauge demand volatility, react and re-plan for…

Tariffs and Inflation: A Good Time to Forward-Buy Inventory? (Part 1)
March 5, 2019 at 1:29 pm

"Buy low, sell high" … If you took anything away from any Economics class, that’s probably it. Now that President Trump’s import tariffs have pushed inflation to the highest level in six years, many retailers and distributors are putting that strategy into play. In cases where suppliers pre-announce a price increase or promotion on a…

Study Finds Markdowns Cost U.S. Retailers $300 Billion in Revenue
February 8, 2019 at 3:37 pm

In a survey conducted by Coresight Research and Celect, more than 200 senior retail decision makers shared their views on top areas of concern around inventory decisions and the correlation to key performance indicators such as full-price sell through, markdowns, stockouts and margins.