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Traffic Hot Spots and Dead Corners: If a back corner sees minimal fitting room requests, a quick refresh – better signage, new product groupings or a complementary seating area – can coax customers to explore. Localized Inventory: When certain products spark high try-on rates in one region, stock up accordingly.
Maintaining margins within business constraints while efficiently providing order fulfillment to customers is a tall order, especially considering each customer purchase requires a real-time fulfillment decision within a shifting context of inventory, demand, returns, delivery times, and shipping costs. Will you deny returns at a store level?
You’ve heard it referred to as, overstocks, write-offs, dead-stock, excess, spoiled, expired, and unsold. Drastic Markdowns. Last minute markdowns that offload stock at a loss. There is constant manual intervention, this may be transferring inventory between stores or ordering new stock.
This was possible because: Talented labor in other countries was cheaper than domestic workers Overseas factories began producing high-quality products at lower prices Consumers wanted goods to be equally attainable for all financial classes Increased margins allowed retailers to stock more inventory and carry larger assortments.
The marketing and loyalty department provide consumer/promotion data, the POS system provides sales/returns data. What is the optimal pricing/markdown strategy to sell off inventory by end of season while a staying away from lost sales, and dead inventory? How do you calculate optimal safety stock levels?
The marketing and loyalty department provide consumer/promotion data, the POS system provides sales/returns data. What is the optimal pricing/markdown strategy to sell off inventory by end of season while a staying away from lost sales, and dead inventory? How do you calculate optimal safety stock levels?
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