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Retail Inventory Management

Retailers need to enhance their inventory strategy by focusing on key areas such as promotions management, shelf life optimisation, and events management to improve operational efficiency. They must also address waste reduction and inventory management to cope with rising costs and volatile consumer demand. By optimizing these aspects, retailers can achieve better margins and customer satisfaction.

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51 views2 pages

Retail Inventory Management

Retailers need to enhance their inventory strategy by focusing on key areas such as promotions management, shelf life optimisation, and events management to improve operational efficiency. They must also address waste reduction and inventory management to cope with rising costs and volatile consumer demand. By optimizing these aspects, retailers can achieve better margins and customer satisfaction.

Uploaded by

6inanjar.1rwan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

HOW CAN RETAILERS

ACE THEIR INVENTORY


STRATEGY?

[Link] info@[Link]
experts in inventory optimisation
“Retailers are always under pressure to improve their operational efficiency. However, with so many
areas to focus on, where should supply chain teams prioritise their attention?”

1. Promotions Management
Many retailers are dependent on promotions to achieve
sales targets. Given the level of distruption and the risk of
excess, obsolescence and availability impact, retailers must
optimise their approach to event management. Accurate in-
promotion replenishment is vital to realising financial goals
and maintaining customer loyalty.

2. Shelf Life Optimisation 3. Events Management


Food retailers face a constant battle to offer Special events like Wimbledon present
high levels of availability for fresh products businesses with huge opportunities to boost
whilst managing the risk of write-off. Given that sales. However, given the complexity that
customers expect only the freshest produce and comes managing sudden spikes in demand,
waste is simply not acceptable, retailers must the stakes are high for retailers. Consequently,
take every step they can to optimise produce supply chain teams are always under pressure
shelf lives. to ensure operations are well aligned to ensure
success before, during and after a special event
demand!

4. Waste Reduction 5. Inventory Management


From poor stock rotation to ineffective ordering Everything from the costs of raw materials to the
processes, a whole host of supply chain costs of commercial retail space is increasing. Yet,
inefficiencies maybe to blame. However, given customers will simply not accept any increases in
the level of volatility in consumer demand, price. Thus, in order to thrive in the current retail
coupled with short product shelf lives of fresh climate, retailers must grab any opportunity to
produce in order to achieve real reductions in improve margins. Through optimising their
waste, businesses across the food industry must approach to inventory management, retailers
totally re-think the way they manage fresh will not only reduce costs but also enjoy notable
products. improvements in customer satisfaction!

experts in inventory optimisation

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