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And in 2014, Inditex SA, which owns fast-fashion giant Zara, implemented RFID to effectively track all its products at every step in the process. A number of major retailers have had some form of adoption because of its ability to materially improve inventorymanagement, but it hasn’t offered the same benefit to the customer experience.
Why should retailers care about their Order Fulfillment Process? Order fulfillment may seem like a fairly straightforward process and according to the generic “high-level” definition, it is. In fact, the best order fulfillment processes become sources of revenue, profit, and even customer loyalty.
Businesses collect more data than ever before and from every aspect of the supply and demand chain—logistics; vendor compliancy/lead times; POS data; inventory levels; traffic cameras; prices; markdowns; consumer behavior; demand forecasts; and more. Merchants and inventorymanagers attended more co-planning meetings.
Soon, merchants everywhere began to experience what many thought could only happen in third-world economies and banana republics – panic buying, empty shelves and bottomless backlogs to fill them. But in the process also opened global consumer markets to risks that would make the cotton collapse of 1861 look like a picnic.
Retail businesses collect more data than ever before, and from every aspect of the supply chain, including: Logistics data (vendor compliance, lead times, etc.). Inventory levels (store, warehouse, distribution centers). Prices (markdowns, promotions, competitor prices, etc.). POS data (sales, returns, etc.). The result?
Throughout the history of retail, success and failure has come down to how well a company manages — and profits from — its inventory investment. Inventorymanagement teams calculate the In-Stock Percentage by dividing the number of stores that have a SKU in stock by the number of stores that should stock that SKU.
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