Craig Stewart’s Post

Today we're announcing our Inventory Planning capability for omnichannel businesses to optimize their inventory levels with unprecedented accuracy and intelligence. Stord's new Inventory Planning capability provides a per-SKU demand forecast based on a brand's historical sales, projected sales, and marketing inputs, along with rich inventory intelligence with actionable insights and recommendations. Brands can now: 📦 Reduce the financial impact associated with excess inventory 📦 Reduce customer service issues caused by stockouts and product unavailability 📦 Eliminate labor-intensive manual planning processes that bottleneck operational efficiency. Our Group Product Manager Ryan Andrews said it best: "We've seen too many brands either limited in their planning with inflexible and manual spreadsheets, or overwhelmed by complex tools that can't easily access a brand's supply chain order and inventory data. Stord’s Inventory Planning solution is purpose-built for growing DTC brands to turn complex data into straightforward, actionable insights, allowing our customers to cut costs, boost sales and customer satisfaction, and move faster by simplifying the planning process." #inventorymanagement #inventoryplanning #supplychain

🧠 Insights from the experts! We sat down with Joy from our Analytics Retail Intelligence team to get her insights on a crucial question: what's the biggest sales & inventory trend you're seeing right now? “Complete inventory control! For businesses to truly see the benefits of an omnichannel strategy, they need full transparency and accuracy of their inventory—all the way through their supply chain. Consumers expect to shop wherever, whenever and however they want. Without a solid grip on inventory, businesses won’t be able to meet those demands.” Joy Spiotta, Dir, Customer Success Inventory mastery is non-negotiable. Consumers are busier than ever and crave convenience. They want all options—“buy online, pick up in-store” isn’t enough anymore. For businesses to provide the shopping experience consumers expect, inventory transparency and accuracy aren’t just a nice-to-have; they’re a must-have. 🔍 Visibility and accuracy at every stage: From warehouse to retailer, every step in the supply chain must be crystal clear and spot-on. Unified data across channels helps avoid stockouts and excess inventory, keeping shelves (and online stores) well-stocked. 🤝 Stronger customer engagement: Today's consumers are savvy, and they demand nothing less than full transparency and options. Keep them in the loop on what’s in stock and how they can easily get it if it’s not, and they'll reward you with their loyalty. 🎯 Hit your customer experience bullseye: You only have one shot with consumers. Make it count by ensuring your inventory is on point, every single time. The takeaway? Complete inventory control isn't just a trend. It's the future.

Have you ever sold the same product twice? One of the biggest challenges with store fulfillment of online orders is that it increases the risk of selling the same item twice from shared online and offline inventory. Here's 4 ways that retailers can prevent “selling twice”: - Enable REAL-TIME inventory updates to ensure inventory accuracy across all channels – and I mean truly real-time. Stock updates at regular time intervals don't work when both online and offline customers buy from the same stock. - Separate stock for online and offline customers. However, this requires additional storage capacity and can lead to increased stock thresholds. - Segment by SLAs. Store staff can divide the stock between same-day or next-day pickup orders and ship the next day's orders to the store from the warehouse to reduce the use of store stock for online orders. - Allocate only a fixed amount of store inventory for online orders. This prevents depleting the store inventory for walk-in customers, especially during promotions and flash sales. An omnichannel OMS is a critical tool and source of truth for all of these strategies. With an OMS, store staff can access real-time inventory visibility and update inventory levels across all channels. The system can also help segment orders by priority and reroute only same-day orders to stores. #ShoppingandtheRetailIndustry #Ecommerce #OmniChannelRetail #OrderManagement

👉 Exploring the Challenges of Inventory Visibility: Common Obstacles Businesses Encounter #inventorymanagement

How do #retail giants keep their inventory strategy strong in the era of ecommerce and omnichannel sales? It's all about striking the perfect balance. If your product sells out in seconds, you'll leave a trail of disappointed customers who won’t hesitate to find alternatives. On the flip side, a #warehouse overflowing with unsold goods can wreak havoc on profitability. Navigating these extremes is the art and science of inventory management. But mastering three crucial elements will help you find that balance: 1. Demand forecasting: Predictive analytics matter. Use detailed #sales history, market trends, and seasonality to predict future demand accurately. 2. Safety stock: Plan for the unexpected. Include a safety margin in your stock planning to handle sudden spikes in demand or supply chain disruptions. 3. Supplier Relations: Build strong relationships with suppliers. Timely communication can help speed up restock times and negotiate better deals. Whether you're a retailer trying to fine-tune your inventory management or a supplier looking to better understand the challenges your clients face, Green Retail Consulting can help. Our seasoned #consultants will develop a tailored strategy to optimize the way you do business. Learn more today: https://lnkd.in/g7QW_QZr #merchandise #ecommerce

A common customer question: What sets SPS Analytics apart? My first response is always our Retail Intelligence team. Great insight from Joy Spiotta! Having a single source for sales data across all partners and channels means more time for data-driven decisions and less time playing spreadsheet Olympics. Want to learn more about how SPS Analytics can help with your data strategy? Let's chat!

How do you manage multiple locations and hundreds of thousands of square feet full of omnichannel inventory? G.O.S.S. Industries had a strategic focus to grow its DTC customer based with more e-commerce brands and needed a more comprehensive warehouse management system that wasn't constrained with time consuming manual processes. Through this implementation, G.O.S.S. Industries 1️⃣ cut its receiving and outbound processing time in half 2️⃣ could now provide real-time inventory updates to its customers 3️⃣ improve inbounding accuracy 4️⃣ boost efficiency by having product available almost immediately to pick orders #warehousing #warehousemanagementsystem #3PL

Part 8: Challenges in Implementing Omnishopping Strategies One of the biggest challenges retailers face when implementing omnichannel strategies is managing inventory across multiple channels. This can lead to issues such as overselling products, stockouts, and inaccurate reporting. 🛒 To overcome this challenge, retailers can invest in advanced inventory management software that integrates seamlessly with all sales channels, providing real-time visibility into stock levels and automating order fulfillment processes. Additionally, implementing a centralized inventory system can help streamline operations and ensure a consistent customer experience. #inventorymanagement #omnichannel Another obstacle retailers encounter is logistics, particularly in terms of order fulfillment and shipping. With omnichannel strategies, customers expect faster delivery times and more flexible shipping options. Retailers can address these challenges by partnering with third-party logistics providers (3PLs) to optimize their supply chain and improve delivery efficiency. By leveraging technologies such as route optimization software and automated order processing, retailers can enhance their logistics operations and meet customer expectations. #logistics #shipping Anecdotes from successful brands can provide valuable insights into overcoming these challenges. For example, clothing retailer ASOS implemented a centralized inventory system that enabled them to manage stock levels efficiently across all distribution centers, reducing stockouts and improving order fulfillment. Similarly, electronics retailer Best Buy partnered with 3PLs to enhance their logistics operations, resulting in faster delivery times and increased customer satisfaction. By learning from these success stories, retailers can better navigate the complexities of omnichannel strategies and drive growth in today's competitive retail landscape. 📦 #successstories #omnichannelstrategies In conclusion, while implementing omnichannel strategies may pose challenges for retailers, practical solutions such as advanced inventory management software and strategic partnerships with 3PLs can help overcome these obstacles. By learning from the experiences of successful brands, retailers can optimize their operations and deliver a seamless omnishopping experience to customers. #omnishopping #retailchallenges

Struggling to keep tabs on your inventory across various locations? In the fast-paced world of retail, inventory management complexities can create uncertainties. Maintaining visibility across diverse locations - stores, warehouses, and third-party centers - poses a significant challenge. Limited access to real-time stock information hampers accurate product promises to customers. Seamless integrations within an Omnichannel OMS offer a comprehensive view of inventory levels. This interconnected network provides real-time updates, reflecting sales and new inventory arrivals. Accurate ATP calculation hinges on this dynamic inventory visibility, ensuring reliable promises to customers based on the latest stock. HotWax Commerce delivers dynamic inventory visibility, empowering retailers with real-time updates. Gain confidence in product promises with our Inventory Explainability dashboard. Curious for real-time inventory insights? Discover more about Inventory Explainability with HotWax Commerce! For more information, visit: https://hubs.la/Q02ck5h40 #ShoppingandtheRetailIndustry #Retail #Ecommerce #Fashion

Hey distributors! Have you ever wondered why you're consistently making more profits but can't seem to expand your business? Check out what your business is missing: 🛒 Omnichannel Sales: Without an online store to provide convenience in the customer journey, customers are less likely to purchase from that distributor, potentially driving them to competitors. 🤝 Enhance Customer Buying Experiences: Without customer purchase records, it’s challenging for sales representatives to offer exclusive deals to persuade retailers to make optimal orders and drive maximum profits. 🌱 Sustainability Practices Lack of eco-friendly practices increase the difficulty of attracting eco-conscious customers, allowing competitors to capture this growing market segment. Stop waiting! Click the link below to gain VALUABLE tips on how to increase market share! 🌐 > https://lnkd.in/gMA_FGpY #Manufacturing #Automation #BusinessIntelligence #FMCG #distributor #MCCRENERGY #Distribution #BusinessGrowth #DigitalTransformation #distribution