Key Imperatives For Inventory Optimization

By Sahir Anand, Aberdeen Group

Aberdeen Group data reveals that an astounding 70% of retailers rate themselves "average" or "below average" on their inventory management processes. Moreover, only 1/3 of retailers are using traceability tools for inventory tracking. Visibility into product movement (on-hand and in-transit active, inactive, discount, clearance, and discontinued merchandise) is imperative for creating cohesive replenishment, merchandising, and sales forecast plans, as well as overall execution of sales and operations plans (S&OP).