Making the right moves with inventory planning
How retailers determine inventory has changed dramatically: different people in different markets dictate different products, each store is unique and develops its own patterns, and the number of stores, channels and products a retailer has keeps growing. Systems that function on last century’s models don’t cut it anymore. Retailers need a better way to find the correct inventory and availability in order to maximize sales opportunities, increase satisfaction and exceed customer expectations.
Strategic planning for a competitive edge //
Inventory is one of the most significant investments a retailer makes. The costs involved are substantial and in most situations, the investment is a bet – will it be successful or not? Moreover, today’s new market has placed even more importance on planning, forcing retailers to try to be smarter about understanding where products sell more resulting in extra pressure on their people, processes and systems.
However, proper planning requires more than aligning assortment with customer demand; retailers have more to consider. Customer preferences, local markets, and multichannel formats are all critical aspects of inventory planning. That’s why Quantum Retail created Q.