4 Process Gaps that Complicate Inventory Management
Inventory management has never been more challenging than it is today. Inventories have become unfathomably complex in the battle to appeal to as many customers as possible, requiring literally hundreds of different processes by various players to manage it. Should one of those processes fail (which many do) the resulting inventory distortion can have a snowball effect and impact profits, margins or the customer experience.
Success as a retailer depends on properly and efficiently managing inventory to ensure maximum sell-through and, by extension, maximum profits and margins. That’s why many retailers are deploying advanced technology like prescriptive analytics to help simplify the inventory management process. This robust solution analyzes inventory data and tells you:
- What is happening
- Why it happened
- How much it is costing you
- What to do about it
- Who should do it
With the timely alerts of prescriptive analytics, retailers can identify and close any process gaps before they can significantly distort inventory. Download to learn more.