retail

Focussing on customer needsrather than(internal) stakeholders. The Paradox of Innovation:𝗪𝗵𝘆 𝗦𝗹𝗼𝘄 𝗮𝗻𝗱 𝗦𝘁𝗲𝗮𝗱𝘆 𝗪𝗶𝗻𝘀 𝘁𝗵𝗲 𝗥𝗮𝗰𝗲 We all know that when it comes to innovation,speed is key, right?Actually, sometimes going slowcan be just as effective – if not more so! Take the example of Zara, a popular clothing retailer.They’ve found Read more…

Tools help.But just having a tool does not necessarily mean you will be better. The Great IT Illusion:𝗪𝗵𝘆 𝗙𝗮𝘀𝘁𝗲𝗿 𝗖𝗮𝗿𝘀 𝗪𝗼𝗻’𝘁 𝗦𝗼𝗹𝘃𝗲 𝗦𝘂𝗽𝗽𝗹𝘆 𝗖𝗵𝗮𝗶𝗻 𝗖𝗼𝗻𝗴𝗲𝘀𝘁𝗶𝗼𝗻 Despite our obsession with technology,it’s time to face the hard truth:Technology alone won’t fix our supply chain problems. Take the example of a struggling retail Read more…

Getting stuck with goods that you THINK will be a best seller.Be paranoid.Don’t be hysterical. The Paradox of Reliability:Why Less is More in Supply Chain Management You might think that to be a reliable retailer, you need to always have plenty of stock on hand.But the truth is, 𝘁𝗼𝗼 𝗺𝘂𝗰𝗵 Read more…

Stocking Smart: Unraveling the Pitfalls of Overstocking in Merchandise Planning” Let’s say you are analyzing the inventory performance of a retail store that sells clothing.The store has a few different categories of clothing, such as– tops,– pants, and– dresses, andyou want to check the inventory levels for each category. You Read more…

You don’t need to have a complex system for managing inventory.Simple is Better. As your size and your needs grow you can start looking at more available options in the market.Starting with Excel or Google Docs also might be good enough. Get started though.That’s the key. The best way to Read more…

Do you have any memorable experiences regarding inventory?Comment below👇Snippets of a discussion: “One experience I had was in the summer of 2010.We received a shipment of diamond earrings. They were like a popular design that was currently trending. We decided to put them on the floor with the other popular Read more…

[SUMMARY]10 Tips for Demand Planners https://lnkd.in/gK4pbvK6 Some Rules to Keep in Mind for Demand Planners 1.𝗗𝗼𝗻’𝘁 𝘁𝗿𝘂𝘀𝘁 𝘆𝗼𝘂𝗿 𝗴𝘂𝘁 𝘄𝗵𝗲𝗻 𝗶𝘁 𝗰𝗼𝗺𝗲𝘀 𝘁𝗼 𝗱𝗲𝗺𝗮𝗻𝗱 𝗽𝗹𝗮𝗻𝗻𝗶𝗻𝗴, 𝘁𝗿𝘂𝘀𝘁 𝘆𝗼𝘂𝗿 𝗱𝗮𝘁𝗮! Because you think a certain product is going to be hot, doesn’t mean it will be.For example, don’t stock up on “unicorn Read more…

Rules to keep in mind for Demand planners (3/3) 7️⃣ 𝗗𝗼𝗻’𝘁 𝗼𝘃𝗲𝗿𝗹𝗼𝗼𝗸 𝗹𝗲𝗮𝗱 𝘁𝗶𝗺𝗲 𝘄𝗵𝗲𝗻 𝗶𝘁 𝗰𝗼𝗺𝗲𝘀 𝘁𝗼 𝗶𝗻𝘃𝗲𝗻𝘁𝗼𝗿𝘆 𝗺𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁. Lead time is the time it takes for an order to be received from the supplier. So it’s important to factor in lead time when ordering inventory.Don’t expect to find Read more…