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Overcoming Today's Biggest Retail Inventory Management Challenges

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  It's safe to say that inventory is at the heart of the ever-evolving retail industry. For businesses worldwide, managing inventory to ensure a pleasant and seamless customer experience has become one of the primary focuses in today's highly competitive retail landscape. The inventory software market is growing rapidly and is expected to exceed   $3 billion by 2024 , with cloud-based software claiming over 30% of that market share. Data analytics, IoT, and Cloud Computing are now some of the most highly sought-after technologies in the supply chain sphere. Good inventory management practices can be a game changer when it comes to achieving exceeding customer expectations and maintaining healthy profitability. While comprehensive inventory control and accurate sales forecasts are reliable strategies, that's just the tip of the iceberg as far as inventory management is concerned. The challenges are as diverse as the global and local markets in which retail businesses operate...

Key Trends To Watch Out For The Digital First Holiday Season 2020

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  This holiday season, 30% of global retail sales will be through  digital channels . Are you ready to make the most of it? The evident effects of COVID-19 on consumer behavior have pushed retail models   to integrate more online channels. In the new normal, most customers are engaging with  three to five  channels during buying journeys. On top of that,  reports  suggest that the paradigm shift towards online shopping is a permanent one that will remain even after stores reopen. As a result, this year’s holiday season is going to be one of the most challenging for retailers. And the road to meet new customer expectations is via digitalization. Retailers need to elevate  digital experiences  across channels with consistent information dissemination, on-demand customer support, and timely issue resolution. Significant scaling and refining of digitalization approaches throughout their value chain can remodel operations and stream revenue. By bl...