BY VICTORIA KICKHAM, CONTRIBUTING EDITOR
INVENTORY MANAGEMENT
Technology
FOR MOS T RETAILERS, STRIKING THE RIGHT BALANCE BETWEEN IN-S TORE
and distribution center inventory levels has become a serious headache due to omnichannel requirements and the need to respond to changing customer demands more
quickly than ever before. Such challenges are causing organizations to take a closer
look at how they manage inventory, especially if they are using multiple platforms
to do so. For many, developing a singular view of inventory and improving flexibility across their networks are keys to managing today’s increasingly complex supply
channel.
“There are two key disruptors when it comes to inventory management,” says
Michael Salmasi, co-founder of New York City-based Veea, a platform-as-a-service
(PaaS) company that provides a suite of technology solutions for business and consumer needs, including retail. “One is omnichannel or cross-channel fulfillment,
and the other aspect is that we are living in a more dynamic marketplace. This is
having a huge impact on the way inventory is managed. E-commerce and omnichan-
Striking the right balance
Retailers need more
sophisticated
technology to
manage inventory
in an omnichannel
world. Tools that
improve visibility and
flexibility are at the
top of the list.
