Consumer buying behavior today is unrecognizable compared with a decade ago. We no longer go shopping, we are shopping. We buy in a series of moments, choosing from an array of products on an interconnected digital shelf.
Managing inventory in tandem with consumer experience is crucial for brands. A supply or inventory issue becomes a consumer experience issue.
Traditional inventory management methods aren’t equipped to support new routes to market. Many brands have improvised their own solutions by patching together legacy ERP and multiple inventory-tracking systems. This way of coping prevents a single view of inventory, which prevents brands from successfully managing multiple routes to market.
Brands need more than a single view of inventory. In order to stay visible, brands must innovate, using inventory signals such as stock-outs, delays, or surpluses to inform their merchandising strategy to maintain and enhance visibility and differentiation on the digital shelf.