In the world of retail and wholesale, managing inventory efficiently is crucial for maintaining profitability and operational fluidity. Dead stock, or inventory that remains unsold for an extended period, can significantly hamper cash flow. According to Forbes, dead stock costs retailers a staggering $50 billion annually in lost revenue. Thankfully, the advent of AI-powered inventory management
For footwear retailers, effective demand planning is a fundamental factor in sustaining profitability and ensuring customer satisfaction. With the complexities of modern retail, compounded by evolving consumer preferences and external pressures, accurate demand planning has never been more vital. This blog delves into what every footwear retailer needs to know about demand planning.
The Importance of E-Commerce Integrations in Fashion Retail In today’s digital age, the fashion retail industry relies heavily on a seamless integration between physical and online storefronts. With 88% of consumers expecting smooth transitions between online and in-store shopping experiences (Think with Google), retailers need robust solutions to meet these demands. This necessity is where
In the wake of the COVID-19 pandemic, the global supply chain has experienced disruptions that have left many industries grappling with unforeseen challenges. According to McKinsey, supply chain delays have affected 70% of fashion retailers, leading to widespread retail stock shortages. As businesses strive to remain competitive, addressing these supply chain challenges becomes ever more
In the digitally-driven marketplace, retail technology is rapidly evolving, but many retailers continue to rely on traditional inventory methods. These outdated systems are not only inefficient but are also costing businesses significantly. This blog delves into the reasons why clinging to conventional inventory systems can lead to substantial financial losses and examines how switching to
