The holiday shopping season is right around the corner and for many retail owners, this can be a stressful time for many reasons. There are larger crowds, a need for extra staff, the general strain of the holiday hustle and bustle and the guessing game of how much extra inventory you’re going to need in your store to accommodate those crowds. [Read more…]
Phantom Inventory may sound like the latest Ghostbuster or Batman flick, but the truth is this is a real thing that is causing hundreds of retailers to lose profits every day over misplaced merchandise.
Optimized inventory is a must in an omnichannel landscape. By leveraging real-time modeling to uncover customer patterns, retailers can adjust assortments — and amounts — of merchandise based on when customers are ready to make a purchase, according to Kevin Stadler, president and CEO of 4R Systems.
Chain Store Age recently spoke with Stadler regarding how forecasting, risk assessment, machine learning and predictive analytics are paramount in optimizing inventory and positioning retailers for maximum profitability.
Get a deeper look at the “Look Ahead & Application Delay” features 4R uses to help retailers manage peak times throughout the year such as Christmas, Easter, Mother’s Day, and other holidays by bringing in inventory early.