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White Paper: Top 5 Reasons To Implement Insight-Driven Inventory Management
Most retailers are now realizing the impact of effective inventory management on their bottom line. Inventory management is the number-one supply chain initiative, current and planned, according to the Retail Horizons study from the National Retail Federation (NRF). As many as 97% of retailers will have inventory management strategies implemented by mid-2010, an increase of 12% over the previous year.
Yesterday's inventory planning processes occurred in siloed environments, where inventory decisions made at the store level were not shared with stakeholders upstream in the supply chain and management strategy was about using past performance to predict future sales. Today's more advanced solutions break the barriers across the supply chain and not only leverage past performance to predict future demand, but incorporate the consumer to better predict the right allocations by region, by store and by size, color and SKU. Intelligent inventory management solutions can weigh stock reduction versus customer service and predict the best mix for long-term success.
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