Omnichannel planning: don't fracture your inventory management

Retailers should ensure there is someone within their organisation who has a "unified view of the total inventory investment", as well as a full company-wide assortment plan.

That is the opinion of Peter Charness, chief marketing officer at supply chain solutions company TXT, who told Essential Retail it is important that businesses operating in the sector do not fracture their inventory management processes by allowing separate groups to independently order, manage and stock products.

Charness says that retailers must now refresh their assortment more frequently than ever before and deal with the new challenges brought about by an increasingly complex "fulfilment chain". These issues and more will be discussed by the TXT CMO and the senior team at Columbus Consulting, during a webinar on Thursday 3 July.

With customer requirements changing all of the time, the continued rise of online shopping and the growth in new fulfilment methods such as click & collect and next-day delivery, retailers are asking how they can best position themselves to meet more sophisticated customer orders. Those who tune into the webinar will be able to receive some advice and best practice tips on meeting these challenges.

Peter Charness, SVP Americas and chief marketing officer at TXT, said: "A single view of a customer is the goal, but a good interim step is to understand who the customer really is at each retail selling channel. 

"There are some real oddities that occur for some retailers. The online shopper using a credit card may actually be a child of the usual in-store shopper and, while they look alike, the online shopper is a completely different customer than the "lookalike" in-store. Sorting out accurately who is buying where, and what their shopping preferences are not simple."

Essential Retail editor Ben Sillitoe will be moderating the webinar, which is entitled 'Planning in the omnichannel world with a single view of inventory' and will take place at 15:00 BST on Thursday 3 July.

Webinar panellists include Rich Pedott and Charlotte Kula-Przezwanski, partners at Columbus Consulting, and Peter Charness, SVP Americas and chief marketing officer at TXT. Participants will have an opportunity to pose questions to the panel.

Click here to register for the webcast