Executive Briefings

Leaving Inventory Planning to the Tyros? Hmm, Not Smart.

With inventory dollars accounting for one of the largest assets on a retailer's balance sheet, you need properly qualified personnel managing your company's inventory. Yet some organizations assign this important financial responsibility to lower-paid, entry-level or under-qualified people. That's not wise: Planners can be responsible for millions of dollars of purchasing, while also directly affecting customer satisfaction through adequate goods in stock. These are critical responsibilities with an impact on the success of the business that few others in the organization hold.

The most successful retailers elevate the planning position and function, fully integrating it within all aspects of the organization. Positive business results come from the communication and collaboration between the inventory, product/merchandising, creative, financial and supply-chain teams.

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With inventory dollars accounting for one of the largest assets on a retailer's balance sheet, you need properly qualified personnel managing your company's inventory. Yet some organizations assign this important financial responsibility to lower-paid, entry-level or under-qualified people. That's not wise: Planners can be responsible for millions of dollars of purchasing, while also directly affecting customer satisfaction through adequate goods in stock. These are critical responsibilities with an impact on the success of the business that few others in the organization hold.

The most successful retailers elevate the planning position and function, fully integrating it within all aspects of the organization. Positive business results come from the communication and collaboration between the inventory, product/merchandising, creative, financial and supply-chain teams.

Read Full Article