Why do forecasting and inventory inaccuracy continue to bedevil the retail industry?
The answer is really simple.
The retail industry continues to give the wrong answer to the questions, because they keep asking the wrong question.
The questions retail brands need to answer as it relates to supply chain are:
- What is the root cause of forecasting and inventory inaccuracy in retail?
- What can retail brands learn from the military about supply chain efficiency?
- What are the fundamental principles underlying supply chain efficiency?
- How to increase forecasting and inventory accuracy?
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About the author
Romeo Richards is an experienced retail trainer and consultant with knowledge of retail marketing, store performance and retail loss prevention.
He has the ability to choreograph the customer journey, boost store conversion and enhance in-store experience using store design and visual merchandising.
Specialises in increasing retail profit through shrinkage reduction.
He is the author of 23 retail and marketing books including:
• How to Increase Retail Sales
• How to Make Profit In Retail
• Store Design Blueprint
• Visual Merchandising Display
He is the creator of five retail home study courses.
Frequently presents webinars on shoplifting prevention and boosting retail sales.
Featured in Professional Security Magazine, Retail Week & Retail Technology Magazine