Success in a global environment demands a global view, yet many retailers still operate in a vacuum—or, as a series of independent, geographically dispersed stores – often as a result of expanding their global presence and portfolios through acquisitions and mergers.
As assets and supply chains grew in complexity, their demand management, distribution, and planning processes remained fragmented by incompatible, costly or outdated technology. Retailers and suppliers are finding traditional assortment planning processes too complex, disconnected and time consuming and are looking for scalable, flexible and economical ways to achieve the right product and location combinations.
So, how do successful retailers effectively synchronize demand, forecasting, and logistics to mitigate out-of-stocks and excess inventory and respond successfully to consumer demand volatility?
To keep pace with shifting consumer demands and accelerating product turnover, leading retailers are adopting new strategies to more effectively manage the consumer-driven enterprise in an ever-changing economic and retail landscape. Retailers are adopting a more consumer-centric approach by striving to provide accurate and consistent product information to increasingly savvy customers, as well as meeting unique assortment demands in specific locations and channels.
An integrated, responsive supply chain is key to a competitive retail advantage and, while often overlooked in a robust economy, essential in today's market. Reliable real-time data, inventory optimization and accurate forecasting fuel an efficient supply chain. Companies relying on fragmented and outdated information and technologies are at risk of losing ground.
Conversely, retailers with optimized supply chains can sustain performance during inevitable downturns. Optimizing inventory visibility and effectively capturing consolidated consumer demand can enable unprecedented forecasting capabilities to support all aspects of planning – from store shelves to the strategic business level.