Retail Remix · with Josh Bartel · March 21, 2022 · 33 min
Summary
Retailers face significant profitability challenges due to inflation, long lead times, and supply chain constraints. This episode provides actionable strategies to optimize fulfillment, including better supplier collaboration, effective inventory allocation across the network, and leveraging service and marketing to manage delivery delays and customer expectations. Learn how to reduce stockouts, improve efficiency, and drive profitability in your fulfillment operations.
Key takeaways
Collaborate proactively with supplier partners to gain better visibility into production and shipping, enabling more accurate planning and mitigation of long lead times.
Implement strategies for dynamic inventory allocation and order management across your entire fulfillment network, considering multiple warehouses, distribution centers, and even store locations to optimize cost and speed.
Utilize strong customer service and targeted marketing to proactively communicate delivery delays, manage expectations, and maintain customer satisfaction and loyalty.
Focus on optimizing inventory management to significantly reduce stockouts, which directly contributes to increased sales and overall profitability.
Having a fast, efficient and profitable fulfillment strategy feels like a tall order on a good day, but couple it with inflation, long lead times and other supply chain constraints, and retailers are facing an uphill battle. Josh Bartel, CEO of Hydrian, knows this firsthand from conversations with executives and his work helping retail businesses optimize inventory management, reduce stockouts and drive profitability. During this week’s Retail Remix, he shares how retailers can: Better align and collaborate with supplier partners to tackle long lead times; Effectively allocate inventory and manage orders across their entire fulfillment network; Use service and marketing to tackle delivery delays. RELATED LINKS Learn more about Hydrian Get more insights from inventory experts Retail Innovation Conference & ExpoJoin executives from Coach, Foot Locker, Brooklinen, e.l.f. beauty and more at the Retail Innovation Conference & Expo, taking place May 10-12, 2022 in Chicago. Podcast listeners get 50% off on all passes using the promo code RICE50P07. Register before April 12 to save an extra $300.(We can take out the last sentence after early bird ends.)]]>
What does this episode say about supply chain & operations?
Collaborate proactively with supplier partners to gain better visibility into production and shipping, enabling more accurate planning and mitigation of long lead times.
What does this episode say about retail & omnichannel?
Implement strategies for dynamic inventory allocation and order management across your entire fulfillment network, considering multiple warehouses, distribution centers, and even store locations to optimize cost and speed.
What does this episode say about customer retention?
Utilize strong customer service and targeted marketing to proactively communicate delivery delays, manage expectations, and maintain customer satisfaction and loyalty.
What does this episode say about supply chain & operations?
Focus on optimizing inventory management to significantly reduce stockouts, which directly contributes to increased sales and overall profitability.
