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How AI is set to revolutionise inventory management

Inside Retail

Great product diversity, changing consumer demands, and the expansion of e-commerce have turned inventory management into a major pain point for retailers. Poor inventory management results in overstocking and under-stocking, impaired cash flow, and losses from theft and spoilage. Here are some reasons why: 1.

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The Rise of Omnichannel Fulfillment: Dynamic Fulfillment Networks Create Opportunities for Brands

Retail TouchPoints

A Nielsen IQ Omnichannel Shopping Fundamentals Survey found that 61% of participants would like orders delivered as fast as possible, compared with 39% who indicated they would accept a slower delivery speed. Single- or even two-warehouse fulfillment approaches force brands to choose between 1. Rise of Omnichannel Fulfillment.

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How to Revolutionize Inventory Management

Independent Retailer

Having insufficient stock to fulfill demand results in missed sales, causes reputational damage, and sends customers to competitors. Next-generation analytical and planning tools interpret vast volumes of data so that retailers can predict and react to disruptions before they affect inventory levels. by Paula Biste.

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Grocery Trails the Retail Industry in CX and Fulfillment. Here are 4 Ways That Will Change in 2021

Retail TouchPoints

Online grocery shopping sales grew 54% for the year and are predicted to top $100 billion in 2021. Online grocery’s previously lethargic rate of adoption meant that grocers lagged other retail sectors in multichannel merchandising systems, customer data management and fulfillment technology.

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Solving the Shopping Mall ‘Identity Crisis’ with Community Data and Careful Curation

Retail TouchPoints

Malls were once the nucleus of “shopping culture.” But many shopping malls have endured an identity crisis. The key is to think beyond direct brand alignment within a shopping mall or center. Librarians were the age-old, quite static and inflexible owners that collected rent, rented shops and cleaned spaces,” Ibrahim explained.

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Product Substitution: How Savvy Retailers and Manufacturers can Build Supply Chain Resiliency, Reduce Costs and Improve Customer Experiences

Retail TouchPoints

Applying this practice, retailers can proactively troubleshoot stockouts and delays to ensure that customers’ orders can still be fulfilled to their satisfaction in a timely manner. In manufacturing, product substitution can be a valuable tool for optimizing inventory management.

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6 Logistics Metrics that Determine a Brand’s Holiday Success or Struggle 

Retail TouchPoints

With the bustling holiday shopping season nearing, many brands have spent the last several months assessing their operational strengths and weaknesses, particularly in logistics and fulfillment. Oftentimes, these hinge on the synergy between a brand and its third-party logistics (3PL) provider.