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:Read More