3 Reasons to Infuse Advanced Analytics into Your Allocation Process

What if you could travel back in time?

Back to the exact moment you determined which inventory needed to be allocated to each store for the 2017 holiday season.

The only difference this time around is you’d know exactly what sold at each location because your ‘future self’ would know every single purchase made. Then, you'd be able to make the best use of inventory by knowing exactly where each product was going to sell — prior to the hectic holiday season plagued by unpredictable spikes in demand.

Why, wouldn’t that be nice?

Unfortunately, the ability to travel back in time just isn’t an option. We’re stuck making do with historical sales performance, trends, or manual-based analyses to distribute inventory across stores.

To put it plainly: we’re placing huge bets on our inventory.

Since time travel isn’t a thing (*sigh*), retailers must infuse advanced analytics into their allocation processes to improve inventory bets across each store location. Here are three reasons why:

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Topics: retail news, brick-and-mortar retail

A Look at Retail's 2018 Q2 Earnings

It’s halfway through the year, so it’s only natural to take a step back to get a pulse on the retail industry as whole. As the back-to-school season winds down and retailers start to prep for the holiday season during the second half of the year, it’s time to reassess where some of the major players stand.

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Topics: retail news, brick-and-mortar retail

Top Retail Industry Experts to Follow on Social Media

With the constant stream of blogs and articles pouring into the chaotic whirlpool of retail news each day, prioritizing what to consume on the reg. can get pretty overwhelming. For that reason, we pulled together a list of top retail industry influencers to follow across social media (Twitter, LinkedIn, Facebook, etc.), whose fresh perspectives have proven useful and insightful time and time again. 

Listed in alphabetical order, check out this list of notable retail industry experts on social media for unique and quality content on the happenings behind the long, unpredictable retail journey ahead of us:

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Topics: ecommerce, retail news, brick-and-mortar retail, consumer insights, consumer trends, technology adoption

How to be Michelangelo in Today's Retail Renaissance

Most news outlets seem to cover the changing retail landscape with near-weekly stories on store closings and bankruptcy filings. Even outside of the fact that articles with high click-rates beget other similar articles, which in the case of retail generally include household names with a significant nostalgic punch—there certainly is a dramatic change in the industry. However, we should not take stock in those with signs proclaiming “the end is near” for retail any more than we do the madman in front of the park fountain.

One of our customers’ CEOs recently told his leadership that he’s tired of hearing about “The Retail Apocalypse.” He pointed out the fact that it’s become such a ridiculously exaggerated topic, it even has its own Wikipedia page. Given the industry we’re in, this naturally made it worth a look. 

What’s interesting isn’t the fact that retail is changing, or that the general public and media have mischaracterized the evolution. What is interesting is when you look at the factors contributing to this change, understand their impact, and – most importantly — understand how to combat them in order to thrive in the face of this “New Retail” environment.

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Topics: e-commerce, inventory optimization, brick-and-mortar retail, retail renaissance, retail apocalypse

The BIG Show Countdown (NRF 2018 Must-See Sessions)

It’s almost time.

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Topics: retail technology, fulfillment, artificial intelligence, brick-and-mortar retail, consumer insights, NRF2018

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