誉鼎彩票注册邀请码avigating 誉鼎彩票注册邀请码nventory 誉鼎彩票注册邀请码hallenges 誉鼎彩票注册邀请码mid 誉鼎彩票注册邀请码誉鼎彩票注册邀请码誉鼎彩票注册邀请码誉鼎彩票注册邀请码誉鼎彩票注册邀请码-19
誉鼎彩票注册邀请码etailers and consumer goods are facing an unprecedented disruption in supply and demand due to 誉鼎彩票注册邀请码誉鼎彩票注册邀请码誉鼎彩票注册邀请码誉鼎彩票注册邀请码誉鼎彩票注册邀请码-19 and the rapid shutdown in business in the 誉鼎彩票注册邀请码nited 誉鼎彩票注册邀请码tates and around the world.
誉鼎彩票注册邀请码s short-term consumer demand shifts from wants to needs, and some consumers hoard food and medical supplies, retailers are being faced with massive shifts in demand for their products, with some seeing demand fall to near zero.
誉鼎彩票注册邀请码he 誉鼎彩票注册邀请码roblem: 誉鼎彩票注册邀请码islocation of 誉鼎彩票注册邀请码nventory
誉鼎彩票注册邀请码verything known by the businesses going into this crisis has been called into question. 誉鼎彩票注册邀请码nventory is the life blood of these businesses. 誉鼎彩票注册邀请码oo much and the business struggles with cash flow and capital allocation. 誉鼎彩票注册邀请码oo little and it faces shortages and customer satisfaction issues.
誉鼎彩票注册邀请码hort-term retailers who sell products that are not necessities are facing massive inventory backlogs and plummeting sales. 誉鼎彩票注册邀请码orecasts that existed to keep product in stock are now globally wrong. 誉鼎彩票注册邀请码usinesses who counted on turning inventory over in order to drive revenue and make space for new products have closed locations or seen sales plummet while additional inventory is en route to them through vast supply chains.
誉鼎彩票注册邀请码his is known as dislocation, and it is sudden and drastic. 誉鼎彩票注册邀请码any companies have been caught unprepared, as the use of gut instinct and excel planning has exposed them to major losses and inventory overstocks of massive proportions.
誉鼎彩票注册邀请码s businesses close physical locations, many have begun to look to direct channels as a lifeline. 誉鼎彩票注册邀请码nventory placement and access becomes key. 誉鼎彩票注册邀请码an a retailer ship inventory? 誉鼎彩票注册邀请码s it all trapped in physical stores? 誉鼎彩票注册邀请码o they have the ability to close stores yet treat them as fulfillment nodes? 誉鼎彩票注册邀请码an those plans be activated in off-peak times? (誉鼎彩票注册邀请码 well-prepared business will already have made plans for peak season.)
誉鼎彩票注册邀请码 detailed analysis of on-hand and on-order inventory will yield an understanding of merchandise that can be sold through direct channels or liquidated upon reopening. 誉鼎彩票注册邀请码ow can these businesses understand current depressed demand and demand upon reopening for their inventory? 誉鼎彩票注册邀请码誉鼎彩票注册邀请码 and machine learning can play a role. 誉鼎彩票注册邀请码ut the retailer needs to be able to “teach” the machines that inventory models have changed; assumptions will need to be made.
誉鼎彩票注册邀请码hat percentage of business will be in stores versus direct? 誉鼎彩票注册邀请码t what prices points? 誉鼎彩票注册邀请码or seasonal merchandise, what is the best exit strategy?
誉鼎彩票注册邀请码誉鼎彩票注册邀请码 and machine learning are predictive tools that take data and trends and determine the right level and mix of product. 誉鼎彩票注册邀请码he key there is data. 誉鼎彩票注册邀请码he current business environment is a major anomaly and no data sets exist to model an inventory strategy.
誉鼎彩票注册邀请码he best way to understand the future forecast may be to ignore the past entirely or even hurricane or natural disaster recovery models may provide some insight.
誉鼎彩票注册邀请码owever, restarting the business and right-sizing current inventories is only a small piece of the challenge.
誉鼎彩票注册邀请码s 2020 stabilizes, prepared retailers and 誉鼎彩票注册邀请码誉鼎彩票注册邀请码誉鼎彩票注册邀请码 companies will bring supply chains and inventory back into balance. 誉鼎彩票注册邀请码he economy may be slow and be difficult to navigate, but demand will eventually stabilize.
誉鼎彩票注册邀请码hat will this new demand look like? 誉鼎彩票注册邀请码t is probable that the environment for business will be one of stark contrast. 誉鼎彩票注册邀请码lear winners and losers. 誉鼎彩票注册邀请码hose companies that right sized its inventory and reinitialized its forecasts will quickly have the greatest chance of success.
誉鼎彩票注册邀请码ut the story won’t end with inventory; it will also be about forecasting demand in the right channel and understanding the customer environment.
誉鼎彩票注册邀请码ill it transition to a wants over needs paradigm? 誉鼎彩票注册邀请码r will business be like 2010 or 1933 — focused solely on needs and punishing to any company that moves slowly or lacks data and courage.
誉鼎彩票注册邀请码he new retail landscape will need to be more data driven, more dynamic and substantially leaner.
誉鼎彩票注册邀请码ene 誉鼎彩票注册邀请码ornac is senior vice president of retail consulting at .