Welcome back to the 360insights blog. Today, we’re discussing how efficient inventory management can help brands maximize sales.
Retailers are beginning to change the way they handle inventories as they work to use more data to set clear expectations, especially around busy periods such as the holidays.
Brands that connect with their channel partners can use stakeholders’ channel data to optimize their inventory management practices. As retailers gather and use more sales information, providing a way to access to that data across a common platform can be invaluable.
This is especially true as organizations must become more flexible and adaptable when it comes to managing their inventories. Brands can use channel management platforms to partner with the sales channel to optimize inventories to ensure supply keeps up with sales demands. This collaboration lets brands view sales data, inventory levels in the channel and production capabilities in a common interface. These details come together to streamline inventory management at the brand level with clear insights into product performance in the channel.