Inventory Optimization Helps Retailers Satisfy Demand While Minimizing Resource Investment
As a retailer, you strive to have enough inventory on hand so that you can fulfill every customer’s online and in-store purchase. However, you also don’t want to have too much inventory in stock at any given time, since that would require warehousing and storage. Plus, you’d run the risk of ending up with surplus stock, which you might need to sell at a discounted price. Fortunately, retailers can rely on JDA Inventory Optimization solutions implemented by the experts at RPE. This innovative inventory optimization software consisting of planning, allocation, and replenishment solutions draws on inventory best practices to help you reach a profitable balance.
All retailers have unique inventory challenges and carry many different types of products. This disparity in merchandise requires different inventory optimization strategies. Inventory management is a key driver to profitability and retailers should select the best inventory optimization solution to help drive optimal inventory performance.
Inventory planning is the process of setting and maintaining future performance goals for sales, inventory, and other financial metrics and tracking actual results and variances to those goals.
Allocation is the process of assigning individual item quantities to specific stores based on analytical approaches that recognize the performance of those items and their history or potential at different stores.
Replenishment is best described as acquiring product on a recurring basis to support anticipated need and works best as an automated process when there are many combinations of items and store locations.
A Trusted Partner for Inventory Optimization
Since being founded in 1999, RPE has remained at the forefront of retail consulting, implementing, managing, and hosting Inventory Optimization solutions that can:
- Define and leverage customized inventory policies
- Align inventory with top-level strategy objectives, market trends, customer segments, and operations constraints
- Maximize the volume and profitability of key materials, components, and products
With JDA Inventory Optimization solutions implemented at your retail business, you can efficiently satisfy customers’ demands and improve the return on your greatest investment.
For More Information
If you’d like to learn more about JDA Inventory Optimization solutions and the benefits they can provide retailers, contact RPE today. We look forward to working with you.