Cross-Channel Inventory Management Now Retail's Top Challenge
Marketing Magazine AU reported (Dec. 10) on a recent Retail Systems Research (RSR) survey, which found retailers consider inventory/order management as the biggest single challenge facing retailers.
Previously, retailers cited data management as their biggest single challenge, so this finding indicates the importance of managing inventory and order fulfillment across all channels: in-store, online and via mobile devices.
In particular, the study found 93% of retailers rated system-wide inventory visibility as the most important requirement to execute their omnichannel strategy, while only 45% of respondents can actually enable it. Meanwhile, 39% are indeed enabling this requirement.
Three key findings from the RSR study were as follows:
- Retail ‘winners’ design the digital experience with the dual objective of transacting more sales in the digital space and driving more sales in the physical store,
- omni-channel fulfilment has become a top priority for retailers; 53% want to allow customers to purchase, take delivery or return a product through the channel of their choice, and
- fulfilment agility requires modifications to operational systems and processes to efficiently support anytime/anywhere consumer shopping expectations.
A full infographic (excerpt above) detailing additional findings from RSR “Omni-Channel Retail 2014: Double Trouble” study can be viewed on the Marketing Magazine AU website.
To read iQmetrix’s “Omnichannel Retail Moves from Channel to Platform” whitepaper, click the following link: http://www.iqmetrix.com/resources#ufh-i-17248787-omnichannel-retail-moves-from-channel-to-platform