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Customer-Centric Collaboration in Retail: Enhancing Inventory Management

Explore the evolution of retail, from past practices to future trends, focusing on the importance of having the right product, in the right place, at the right time. Discover how technology like the Me-Ality machine is revolutionizing the industry by providing precise digital images for clothing sizes. Analyze current market trends and challenges, including the impact of brick-and-mortar versus e-commerce, mobile shopping, and inventory management issues. Gain insights into market intelligence and strategies for improving customer experiences and optimizing inventory control. Embrace the good news of increasing online spending and innovative solutions to meet evolving consumer demands. Welcome to the future of retail with a customer-centric approach.

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Customer-Centric Collaboration in Retail: Enhancing Inventory Management

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  1. Collaboration - Where is the customer and what are they buying? David V. Pesce Div. VP of Strategic Accounts dpesce@spscommerce.com

  2. Introduction

  3. RIGHT PRODUCT, RIGHT PLACE, RIGHT TIME Past Future Current X Right Product X Right Place X Right Time

  4. Past Product - little style/fashion Place - home or corner store Time – as really needed

  5. FUTURE Past Future Current • Right Product • Right Place • Right Time

  6. FUTURE Product – correct style/color etc… Place - anywhere Time - anytime

  7. ME-ALITY MACHINE Exact digital image Aligns cloth sizes with your size Allows you to place orders

  8. CURRENT Current Past Future • Right Product • Right Place • Right Time

  9. WHERE WE’VE BEEN Analysis Buyer Reports 852 Retailer Portal Not timely Not accurate Different sources of data No data integration ability Not granular (size/door) Not actionable info

  10. Climate Region Social Media Facts Market Data Advertisements Point of Sale ANALYSIS MARKET PLACE INTELLIGENCE Household Income Global DMA Ethnicity

  11. Challenges Brick and Mortar E-commerce Mobile

  12. Challenges Brick and Mortar Unit SLS Retail INV On Order Internet Locations X X Unit SLS Retail INV On Order Where is the inventory?? Lost the ability to measure

  13. Challenges • Lost sales opportunities • Stock-outs • Price

  14. Challenges Shipping Returns

  15. GOOD NEWS *Statistics provided by Forrester Research Inc. Online shoppers in the United States will spend $327 billion in 2016 192 million U.S. consumers will shop online in 2016 Average spend of $1,738 online, up 44% from $1,207 in 2012 Retailers are reacting with better web sites and services Suppliers are reacting with better analysis and drop shipping Technology and data are getting better

  16. WELCOME MICHELLE

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