Remove Advertising Remove Inventory Management Remove Markdowns
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AI in Action: How Retailers are Transforming Demand Forecasting with New Tech

Retail TouchPoints

One of the most promising is a challenge that has bedeviled merchandisers, marketers and inventory managers for decades, if not centuries demand forecasting. Retailers are well aware that having too much inventory in the wrong store, or not enough in the right one, affects not just sell-through but labor costs and store operations.

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Top 5 markdown actions to take to dominate at mid-season sale

Inside Retail

Your markdown SKUs are live, but how are they tracking? Now is the time to check how your markdown performance is tracking against your retail markdown strategy keeping inventory management top of mind. Full price vs markdown mix. Review performance of current markdown clearance stock. Markdown cover.

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7 Tips for Wholesale Inventory Management

Independent Retailer

This is why inventory management is key, especially as retailers look to deal with unsold merchandise after the holidays. “Seemingly overnight, shortages are flipping to inventory surpluses in certain categories. . Offer Promotions & Product Markdowns. Donate Excess Inventory. Liquidate Excess Inventory.

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Sick of hearing about AI? The key is understanding how to make it work for you

Inside Retail

Inventory management Predictive analytics: This helps optimise your stock levels, preventing overstocking and stockouts. Targeted advertising: You can use data to target promotions effectively, enhancing campaign ROI. This means you can get the most out of each product you are selling.

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How to Create a Seamless Relationship Between Marketing and Merchandising

Wiser

On the other hand, merchandising handles the product strategy such as category and brand-level planning, managing in-season pricing and promotional activities, and cross-channel inventory management. Optimizing timing and type of markdowns or promotions is important to get inventory moving without killing profits.

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Mi9 Retail and Planalytics Partner to Improve Demand Forecasting Accuracy and Increase Profitability for Retailers by Incorporating Weather Analytics

M19 Retail

In the area of inventory optimization alone, these forecast accuracy gains translate into measurable benefits: As much as a 2 percent increase in total topline sales as the result of improved availability. Up to 70 basis points of additional profit due to increased sales and reduced inventory costs (e.g. Recent Posts.

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4 Critical Steps for Optimizing Omnichannel Order Fulfillment in 2021

Retalon

At its most basic, it only requires integrating live inventory counts from your ERP / inventory management software with your e-commerce platform, ensuring customers can get accurate information about which store has the items they’re looking for (or give them the option to ship to store). Learn more about retail optimization.