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Ever wish you had a crystal ball 🔮 Well, now we have the answer for you! (if you're an omnichannel brand that’s into smooth-flowing inventory) It might not be as all-seeing as a crystal ball, but our new Inventory Planning capability will help you out if you are: 📦 Struggling with capital tied up in slow-moving inventory 💸 Losing sales due to stockouts and product delays 📊 Spending hours in spreadsheets planning your inventory moves Are you ready to take control of your inventory and maximise your profits? Learn more here: https://lnkd.in/eM3-wbgW #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.

Struggling to Decipher Your Inventory Numbers? In the intricate world of omnichannel inventory management, calculating what's truly available for customers isn't a simple task. Determining Available-to-Promise (ATP) inventory involves complex factors like safety stock, fulfillment statuses, and varying thresholds across multiple locations and channels. Coordinating inventory across diverse locations while ensuring a transparent, understandable ATP calculation process is crucial. Retailers need clarity on how the ATP figure is derived. This quest for inventory explainability demands a clear account of the process behind the ATP number, ensuring precision and reliability in eCommerce operations. Enter HotWax Commerce! Our system focuses on inventory explainability, providing retailers with transparent ATP calculations. Understanding these detailed calculations fosters trust among stakeholders and aids in efficiently addressing issues that arise. HotWax Commerce ensures transparent inventory calculations, guiding retailers toward efficient solutions and operational excellence. Elevate your inventory management today! Explore further by clicking on the following link: https://hubs.la/Q02ck5h40 #ShoppingandtheRetailIndustry #Retail #Ecommerce #InventoryManagement

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

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 #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

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

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

🛡️Prevent overstocking and understocking in your retail business! Centric Planning™️ enhances your demand forecasting accuracy and efficiency, allowing you to accurately anticipate market trends and consumer preferences. 👉Discover AI-powered retail demand forecasting with Centric Software. #DemandForecasting #CentricPlanning #RetailBrands

'Do Accurate Inventory Records Really Impact Your Business?' This piece dives into the critical role of inventory accuracy in retail success. Our research reveals a direct link between precise inventory counts and sales growth. It's not just about numbers; it's a story of reliability, customer satisfaction, and financial integrity. Accurate inventory is the compass for navigating the complexities of omnichannel retail. Check out the blog for insightful details on how strategic inventory management can transform your business. #Datascan #InventoryAccuracy #RetailSuccess #AltavantInsights https://lnkd.in/duvSU3Ev