Austin Power, business development manager for order fulfillment solutions with Retrotech Inc., lists the challenges that retailers face, as they move to an omnichannel model of sales.
Demand planning has a big impact on business performance. Planning error can put revenue at risk by driving component shortages. Persistent planning biases can tie up cash by driving excess inventory. Furthermore, the act of planning and dealing with planning error is time consuming and drives costly overhead. In fact, it is common for supply chain management executives to cite "planning errors" as the greatest obstacle they face to achieving their goals and objectives.