Planning for Inventory Returns
Thus it’s incumbent upon merchants and inventory planners to try to reduce returns … or at least plan around them as best they can. Here are four areas to key on:
1. Understand the causes of returns and fix them wherever possible. To reduce returns you must understand the reasons behind them. If you’re not already doing so, put processes in place to record the reason for every return. With analysis you can take corrective action, such as improving marketing communications so both art and copy clearly communicate the product to consumers. Make sure your sizing is rigorously consistent across all product lines and communicated clearly and often.
Joe is Vice President of Product Solutions at Software Paradigms International (SPI), an award-winning provider of technology solutions, including merchandise planning applications, mobile applications, eCommerce development and hosting and integration services, to retailers for more than 20 years.
Joe is a 34-year veteran of the retail industry with hands-on experience in marketing, merchandising, inventory management and business development at multichannel retail companies including Lands’ End, LifeSketch.com, Nordstrom.com and Duluth Trading Company. At SPI, Joe uses his experience to help customers and prospects understand how to improve sales and profits through applying industry best practices in merchandise planning and inventory management systems and processes.