This article is from RIS News. Nearly every brand has faced enormous disruption to the ways they reach consumers during the past year. Online platforms and the sales they enable have grown in importance, beyond even the most vivid imaginations. This shift brings both hurdles and new opportunities for those who are prepared to try…
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This article is from RIS News. Lauren Kindzierski is VP of CX marketing at HGS. Last year was one of the most prominent years in history, and now retailers are asking themselves what comes next. The use of technology in retail is continuing to boom as businesses desperately search for new ways to connect with…
Retailers are under unprecedented pressure to plan and execute inventory across the business in a rapidly changing environment. Forecasting consumer demand is a key step in anticipating inventory need in the business. Building an accurate consumer demand forecast is not easy however, especially when historical data has little similarity to demand impacted by COVID lockdowns.
For successful inventory planning in retail it is crucial to conduct the forecasting accurately. That way you can make sound and educated decisions in the business. One possible obstacle in the way can be low data quality. Read on to find out how you can overcome that obstacle and achieve a highly accurate forecast:
The New Year has arrived. Check out our card for the team’s wishes: