Is Your Replenishment Truly Strategic? Top Priorities for Health, Beauty, and Wellness Retailers
With 95% of consumers planning to increase their spending, the trillion-dollar shiny and glamorous retail segment of health, beauty, and wellness is a ripe opportunity up for grabs. However, new geographic hotspots, diminishing boundaries between wellness and beauty, and rapidly evolving trends are setting the stage for adaptive and agile retail planning. Is your replenishment […]
Secret Santa Says – Automate Your Retail Planning for a Merry Christmas All the Way
The latest issue of Great Christmas Gazette is out and the gifts community is abuzz with the talks of holiday demand fluctuations, supply-side deviations, and snarling inefficiencies creeping from crevices of manual interventions. The fulfillment teams are working overtime and gift shop shelves are teeming with new enticing and never-before-seen items. Suppliers are getting orders […]
Inventory Forecasting – Trends, Techniques, and Best Practices
Accurate inventory forecasting is the heart of retail planning and inventory optimization. Capturing demand accurately and optimizing inventory accordingly can not only reduce inventory costs but can also help retailers boost customer satisfaction, improve shelf availability, and increase inventory ROI. With fierce competition, rapidly evolving customer preferences, and quick new product and brand introductions, retailers […]
Top 10 Inventory Management KPIs Every Retailer Must Track
As a leading technology provider for some of the largest retail brands globally, we have witnessed how inventory can be the Achilles Heel for businesses across multiple industries. From millions of dollars drained in lost sales owing to inaccurate demand planning to inefficient promotions degrading the profitability, and high holding costs chipping the bottom lines […]
An Industry-Wise Approach to Exploring the Benefits of Inventory Optimization in Retail
According to Statista, global inventory distortions cost retailers as much as USD 580 million. Also, the value of grocery retail items going out of stock exceeds USD 500 million. Add increasing fulfillment costs for merchants, longer lead times, demand for better assortment across multiple categories, and breakneck competition to the mix and the retailers end […]
Hey There, Retailer! Let’s Make Your Inventories Holiday-Ready!
Early shopper waves, midnight snackers, holiday hoarders, and last-minute planners – the holiday frenzy has uncertain customer highs and lows. Tagging along the nuanced customer are the retailers – convenience and grocery alike – dealing with the holiday rush, promotions, inventory planning, and supplier-induced disruption. With trends in purchase and pricing fluctuating rapidly, retailers often […]
Navigating C-Store Retail Complexities: How Can Automation Help?
With a staggering 150 Million+ convenience stores and a record 160 million transactions per day in the US alone, convenience store retail emerges as a delectable opportunity. However, 42% of the customers shopping at C-stores consider “having the right stock” to be one of the most important factors for a delightful experience. Add the constantly […]
4-Step AI-Driven Action Plan to Ace Convenience Store Inventory Planning
Research shows that the global convenience store market size is USD 663.5 billion, and the revenue projections sit at the USD 3.12 trillion mark for 2028. While the numbers paint a decent picture, stock issues, shrinking profits, spoilage, and loss of sales due to manual promotional planning keep on speed-bumping. Further, 42% of customers point […]
Slashing Inventory Costs With ML-Based Demand-Driven Replenishment Planning
Poor cash flow, pressure from suppliers, locked-in capital, and high wastage – the list of disadvantages of poor replenishment can go on very long to become every retailer’s nightmare. Seasonality, multi-variate demand planning, multi-echelon inventories, inter-SKU effects, and lack of visibility over the supply side all can lead to an inventory fiasco that can erode […]
5 Factors Sabotaging Your Demand Forecasts (and How to Outsmart Them)
In an era where all the customers’ whims and nuances get delivered within minutes to the doorsteps, staying ahead of the customer sentiment while keeping the unit economics intact with optimal inventory in offline retail, is a Herculean task. Recent studies reveal the total cost for inventory distortion to be a staggering $1.77 trillion worldwide, […]