In this age of unpredictability, rapidly fluctuating demand patterns and supply uncertainty pose tremendous challenges for retailers that need to ensure inventory availability at the point of sale and all upstream nodes. While this requirement is clear and simple the execution is quite complex and hard to achieve. Managing store inventories and stocking levels at various points in the fulfillment network is a very complicated exercise, and in reality is a mix between art and science. Incorporating all the goals, some of which can be contradictory to other parts of the plan, and various constraints must be considered and prioritized. On top of this, inventory management can be a very labor-intensive exercise when including end-to-end processes with all the stakeholders and systems involved. Effectiveness in retail inventory management depends on successful management of three key components:
- Understanding future demand.
- Optimal inventory placement decisions across the supply chain network.
- Improving store ordering workflow efficiency.
On December 7, 2021 at 6 PM CET/12 noon EST, join Alexander Kurtzahn, CIO Edeka, Dirk Niederhäuser, Supply Chain Management Practice, IBM and Vikram Murthi, Vice President of Industry Strategy at o9 Solutions – as they discuss the steps needed to achieve these three components and take attendees on a deep dive of the following topics:
- How can retailers upgrade their supply chain capabilities in demand forecasting and replenishment to stay competitive?
- What is the best way for retailers to drive their supply chains with forecasts that consider category nuances driven by market knowledge?
- What are the challenges for retailers trying to make inventory placement decisions based on store and DC labor/transportation/storage capacities, operational schedules, and promotions?
- What are the emerging best practices in enabling store order decision-making with automation at scale and explainable recommendations?
VP Industry Strategy at o9 Solutions
Dirk Michael Niederhäuser
Supply Chain Management practice at IBM
CIO at Edeka