Omnichannel retailing adds the flexibility of cross-channel and mobile shopping to the unique revenue- and loyalty-building capabilities of the face-to-face retail experience. It offers opportunities to build deeper shopper relationships—or risks ending them, when availability promises go unmet.
Keeping availability promises depends not only on integrated IT systems, but on reliable inputs and outputs to those systems, across the boundaries of physical locations and technologies, covering both the short and long term. Retailers who succeed at integrating their inventory intelligence for shoppers, associates, and managers can cut costs, accelerate turns, and build revenue by driving high-fidelity information back into the supply chain, aligning it with shopper demand. Retailers who fail will subject omnichannel shoppers to a fragmented retail landscape, marked by jarring, disconnected changes and unreliable information.
Integrated inventory intelligence is essential to deliver on the omnichannel promise. But even more, it future-prepares retail by eliminating information islands, adapting quickly to new processes and technologies, and keeping cost and waste low.
Filed under Inventory Intelligence; Inventory Visibility; Omni-Channel; RFID; Store PerformanceKeywords inventory accuracy; inventory intelligence; inventory visibility; out-of-stock reduction; rfid platform; Store Performance
Published on 1/7/2012 Permalink