Move it or lose it!
In retail parlance moving inventory historically referred to sales or sell through, but now it taken on an additional meaning. The goals of a well run retail store is to have the right inventory at the right time and the right amount. Today we have a new dynamic called Omni channel. The consumer is now empowered to buy on-line and pick it up in store (BOPUS). I don’t agree with the naysayers who have predicted the demise of the retail store however the traditional way of doing business is imperiled.
BOPUS has other pieces to it than simply buying on-line and picking up in store. A true Omni channel strategy also allows the consumer to buy in store and have it shipped or buy in store and pick up at another store. The underpinning of all these inventory movement options is technology. We take the three basic historical rules of having the right inventory at the right time and the right quantity and add getting the inventory to the right location for customer pick up. The rules are changing quickly and survival dictates retailers change as quickly. This is another case where the savvy retailer will understand the value of technology to solve a problem. Plan accordingly before you leap into Omni-channel. Those who don’t adapt will be in serious danger of surviving.