Planning and Sourcing
In a fiercely competitive environment, organizations need tools to help them better plan and manage the supply chain, inventory and wholesale distribution. Forecasting sales, product production and inventory planning based on trends and consumer demands are key aspects of successful retail and B2B businesses.
Planning and Sourcing Tools
Enterprise Resource Planning (ERP)
Vendor Managed Inventory (VMI)
Both retailers and B2B sellers must invest in planning and inventory management to succeed in today’s competitive and customer-centric marketplace. There is a fine balance to the discipline of inventory planning - proper planning is necessary to ensure not to over- invest in inventory, but also not to turn away customers or potentially lose sales due to out-of-stock scenarios.
The need to plan by channel and location makes the planning and inventory management even more complicated. Products are sometimes available across platforms and channels, and sometimes unique to specific channels – e.g., online-exclusives. The chosen distribution strategies will impact inventory levels and timing as well.