The last 12 months of retail sales have been the most volatile of the modern era. Sales during the Great Recession look like a peaceful ocean-view compared to the spikes of COVID-19. It's no wonder that shortages remain while businesses struggle to anticipate consumer demand. Even today, 74% of companies report supply issues.
With online sales increasing, traditional allocation and forecasting methods are costing retailers millions. Inventory is not in the ideal location resulting in higher shipping costs, more markdowns, and fewer sales. Omnichannel allocation has already been shown to improve ship completes by 2x and inventory turns by greater than 250%. But how is omnichannel allocation different than traditional methods? We've highlighted 6 points of differentiation below: Customer Demand, Returns, Continuously Forecasting, Markdowns, Platform, and Experience.
Without further ado we present Ep. 1 part 1 of our Overtime Podcast! In today’s episode we discuss the impact consumer data has on supply chains around the globe. Are your customers trying to tell you something?