Richard Daw

Dear Retail Friends,   If you’re a wholesaler, access to data from suppliers and retail customers is critical in enabling optimal service levels with minimal inventory. But getting that data, and acting upon it, can be challenging.   While there are many hurdles to this kind of collaboration, it can be done. And the benefits are numerous – not just for wholesalers, but their suppliers and retail customers as well.   https://lnkd.in/dbxub36v   #supplychain #supplychainoptimization #wholesaledistribution The future of wholesale supply chain collaboration | RELEX Solutions Unlock insights on boosting wholesale collaboration for supply chain efficiency and profit in this expert interview.

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📢 New Article Alert! 🚀 Head over to the WAPI blog to check out our latest article: "What is GMROI in Retail: Maximizing Inventory Management for Profit." 📈🛍 Learn how GMROI can revolutionize your inventory management and boost your profits! 💡💰 Read now: https://lnkd.in/eR39wWDQ Don't miss out on these valuable insights! 🔗✨

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Hello Retail Friends,   It’s no secret that supply chains have faced unprecedented disruption and volatility in recent years, underscoring the need to address vulnerabilities, improve preparedness, and create innovative strategies.   We surveyed 285 retail, CPG, and wholesale leaders globally in February 2024, exploring the challenges, strategic investment areas, and opportunities for retailers and CPGs over the next 3-5 years.   See how retail and CPG executives are tackling these challenges and planning for the future in our report, State of Supply Chain 2024: Retail and CPG Dynamics.     https://lnkd.in/eQQVdNmN     #supplychain #businesstransformation #supplychainplanning

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In this episode of "The Savvy Supplier" Podcast, Boyd Evert & Al Frank discuss special buys in retail, including their purposes, challenges, and importance. They highlight pricing discrepancies, communication, and return management. Find out what Savvy Suppliers need to KNOW & DO with some solid actionable advice. https://lnkd.in/gnmg4a92

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A brutal mix of factors over the last few years led to retailers absorbing excess inventory shocks. But with the cost of capital increasing, it’s more important than ever to ensure inventory levels do not rise to unsustainable levels while also avoiding out-of-stocks. Our latest insight by Amit Mahajan, Young Hu and Aabha Rathee reveals how leveraging AI and ML can transform inventory management, leading to a 10-20% reduction in working capital, a 50-60% reduction in stock shortage in stores, a 2-4% uplift in sales, and a 1-3% margin benefit. Discover how these technologies can help retailers optimize supply chains, reduce markdowns, and enhance customer satisfaction. Read the full article here:

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We've identified 6 main operational pillars for leading execution in retail stores. One of those pillars is promotional execution. Here are some thoughts from ReStore for Retail, our Virtual Store Management platform.

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It's unsurprising that some consultants for retail are still completely missing the boat with new technology -- to argue that retailers need a "war room" for inventory management because retailers have siloed data is ridiculous. Umm, maybe replace the disconnected systems with a modern unified platform instead of adding more labor, inefficiency, and complexity to the retail chain. A unified system like FieldStack running a retail chain will easily, provably outperform a "war room" of people looking at siloed data sets -- the "war room" will invariably induce personal bias, be slower, and much harder to scale... there is a much better way --- fix the problem! #retail #retailstrategy #inventorymanagement

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Rapidly changing consumer behavior is causing distribution and warehouse professionals to continuously adapt to the evolving #retail landscape. In SupplyChainBrain, Andy Lockhart, our Director of Strategic Engagement, shares his recommendations for retail brands and operations on how to hedge their consumer behavior bets by using automation to enhance agility, flexibility and scalability. https://lnkd.in/eGpnSqMZ #retail #MaterialsHandling #Warehousing #SupplyChainBrain

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When it comes to retail trends, NRF’s annual list of the Top 100 Retailers shows that the pandemic and pandemic-era spending are starting to ease. That’s what David Marcotte, senior vice president of global retail and technology for Kantar, terms the “big trend” out of the National Retail Federation’s annual ranking of the industry’s 100 largest retailers by domestic retail sales. Kantar compiles the data and explores the Power Players in a variety of categories. #nrf #kantar #top100retailers

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Want to read a great case study of a well-known brick-and-mortar retailer using better inventory management to win? Check out Dan Berthiaume's piece in Chain Store Age about how Michaels Stores is turning its physical stores into omnichannel supply chain hubs... ... and how better inventory management and more efficient product allocation enable it. It's just one example of how retailers that manage their inventory more effectively can win in today's competitive environment. And if you're a brick-and-mortar retailer who wants to know how to manage inventories and assortments more effectively, let's chat! #BrickAndMortar #Retail #Inventory #Assortment #Management

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Merchandising teams sit on an overwhelming goldmine of data: historical transactions, POS and ERP feeds, analytics reports...how can anyone effectively leverage this information to drive results? Predictive AI provides the key that unlocks access to this wealth of insight: → Navigate rapid shifts in consumer trends → Manage omnichannel complexity → Improve margins and increase sell-through → Boost financial plans with unique revenue drivers Learn about the four key dimensions of Predictive AI readiness — and how you can take action now to transform your merchandising approach with AI: https://lnkd.in/g-DGisvF

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Everyone knows product returns are a problem, but now the National Retail Federation (NRF), in research with Appriss, has spelled it out in stark terms: total returns for the retail industry amounted to $743 billion in merchandise in 2023. In addition, the total return rate as a percentage of sales in 2023 was 14.5 percent. Of that figure, the research shows that $101 billion are fraudulent returns, or 13.7 percent of total returns. #returnsmanagement #retail

Every moment is an opportunity for growth and transformation. As we reflect on the evolution of merchandising, it’s inspiring to see how far we’ve come from bustling bazaars of ancient civilizations to today’s dynamic eCommerce landscape. In ancient markets, merchants showcased their goods with creativity and skill, building relationships through engaging displays and personal interactions. Fast forward to the digital revolution, and we’re leveraging technology to craft tailored shopping experiences for consumers across the globe. The agility and innovation that businesses display today echo the adaptability of those early traders. As we embrace the future of merchandising, let’s remember the importance of connecting with our customers authentically while utilizing cutting-edge strategies like personalized recommendations and data analytics. What’s your story about how merchandising has impacted your journey? Share your experiences in the comments below! 😊🌟 https://lnkd.in/ezyRW-Y2

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The era of relying solely on intuition and limited data points has long passed. Modern merchandisers have access to a deluge of data, including real-time sales data, customer behavior analytics, market trends, supplier information, and competitive intelligence, all of which they can leverage to optimize their product assortment and placement strategies. #retailcareers #retailmerchandising #datadriven

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This new tool merges strategic insights and customer perceptions seamlessly, offering actionable solutions that can reshape how retailers handle their value proposition at the store level. Find out more here: https://lnkd.in/gcaCYM8j #dunnhumby #customerfirst

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Missed our insightful webinar on maximizing retail team performance with experts from DICK'S Sporting Goods & Rallyware? Grab a cup of coffee and watch it to learn strategies that can empower your retail teams and drive customer value! #RetailExcellence #TeamPerformance #CustomerValue https://hubs.li/Q02B07CQ0

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Merchandisers nowadays face a vast array of challenges in financial planning, including demand forecasting accuracy, inventory management complexity, seasonal impacts, and changing market trends. In this blog by Michael Orr, see how Blue Yonder´s Cognitive Merchandise Financial Planning solution radically re-shapes the foundational process of retail enterprise planning by combining predictive and generative AI, giving merchandisers the time and freedom to use their expertise and domain knowledge to drive faster, better and more agile decisions. https://bit.ly/3TY4WXg #RetailPlanning #AI #MerchandisingTech

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📰🔥 Hot off the press: Daniel's Jewelers enjoys robust return on investment after deploying RetailNext technology! "We leverage AI-powered in-store analytics to enhance the customer experience by providing retailers with deep insights into shopper behavior," said Joe Shasteen, our Global Manager of Advanced Analytics, in conversation with Judy Mottl via Retail Customer Experience. David Sherwood, CEO of Daniel's Jewelers, also joined the conversation to discuss our partnership and how we’ve been able to expand Daniel’s Jewelers' brick-and-mortar presence by accurately measuring the impact of digital advertising on in-store foot traffic 👣 Our technology's invaluable insights have had a direct impact on this mainstay brand's customer experience 🙌 Now, customers get the personalized, attentive assistance they need exactly when they need it most.  Read the full article 👉 https://lnkd.in/dwJQUjEb Check out our case study 👉 https://lnkd.in/dg-gKJ-i #Retail #AI #Data #RetailTech #AdvancedAnalytics

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