Attacking just a single element of inventory has, in our experience and observation, proven to be an insufficient approach to making significant, sustainable changes. The entire ecosystem of processes, variables, and stakeholders requires taking a holistic approach enlisting a variety of tools and techniques (eg. lean inventory management) to drive game changing inventory performance.
Given the breadth, depth and complexity of the Inventory Turnover management ecosystem it is not surprising that there is much to be addressed in this area. We’ve captured much of this in our article Featuring our Top 10 Inventory Management articles.
In this blog article we’ve captured much of this content in a single Infographic
Understanding your Customer is the first and most important consideration in designing, defining and refining your company and your go to market business model. And millennials are different.
In the Retail sector one key demographic that demands consideration is that group called Millennials. Whether it be Marketing, Merchandising, Supply Chain, or any other aspect of your Go to Market experience understanding what is important to Millennials is critically important.
In today’s eCommerce landscape, the majority of customers interact with you only two times, once when they make a purchase on your website and then again when the product is delivered. Improving your website’s conversion rate is very important and gains a lot of attention in the eCommerce industry, while the anatomy of the unboxing experience is too often overlooked.
As the marketplace for physical products continues to transition online, the customer experiences far less interaction with the actual company. These lost opportunities for a business to impress through exemplary service will need to be compensated for in other ways.