Why Inventory Needs a Seat at the Table
The annual planning process for direct retailers typically focuses on three areas:
- How can marketing drive customer demand at a lower cost?
- How can merchandising plan better assortments to increase demand and gross margin?
- How can operations work more efficiently?
These are all critical planning areas for a company looking to achieve its goals, but can you guess what’s wrong with this picture? There’s an empty chair at the table. The inventory planning department is missing. It's not part of the process, and thus not part of the solution.
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.