Scott Vifquain

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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This interview with Walmart CEO Doug McMillon is a #retail #masterclass. A bit of context and perspective, combined with a lot of detail about every aspect of their business — #merchandising, #SupplyChain, #stores, #digital / #omnichannel, #international, #technology, #marketplaces, #RMNs, and more. And this will make an excellent base prompt for a retail #AI assistant — one of my #WeekendProjects

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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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Hello Retail Friends,   I cannot stress enough how important fresh products are to grocery retailers. When it comes to inventory planning, “point solutions” that lack end-to-end integration and only address store-level planning simply are not enough!   Retailers need proven, multi-echelon planning solutions that extend beyond the store - unifying, automating, and optimizing planning in stores, DCs, and omnichannel. This is the only way to get crucial visibility and insight across the end-to-end value chain.   https://lnkd.in/ej53RsFV #supplychain #grocery #freshproduce How to improve retail fresh food inventory management | RELEX Solutions Tackle fresh food inventory management challenges head-on with the right strategies and robust planning software. www.relexsolutions.comhas context menuCompose

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Good read for points to consider. I would add a few more. On data, capture the right level of detail that allows observable corrections to improve the scorecards. Get agreement from all stakeholders on the measurement and the details behind the measurement. I remember a previous role where it took several months for accounting and merchandising to agree on the inputs for the margin calculation. Do not underestimate the need for change management. You create a scorecard to ensure success. It will flush issues that require change in the retailer and supplier networks. Leaders must be expect and support those changes. Some of those changes will be uncomfortable and may strike close to home.

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While #SASInnovate is coming to a close, there is still so much to look forward to. Thanks Mary Osborne and Shadi Shahin for giving us a sneak peek at our new #AI Assistant and #DigitalTwin capabilities. What a compelling scenario to address and mitigate #supplychain disruptions. Stay tuned! #IntelligentPlanning #SAS #Innovation #retail #CPG

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We published a #RetailTech report today titled, "RFID Is the Technology That Keeps on Giving to Retailers (and Associates and Consumers)." It has three main points: 1. RFID-Driven Inventory Accuracy Opens the Door to a Slew of Other Benefits for Retailers 2. RFID Can Improve the Associate Experience 3. RFID Enables the Services that Make Customers Happy The report also discusses implications for retailers, brands and technology vendors. https://lnkd.in/eCAPNu5t Take a look here: https://lnkd.in/eCAPNu5t #rfid #retailtechnology

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Another step on our customer centric & data driven journey. These pre-purchase insights will help vendors strategize best to their customer, allowing them to find the perfect product in an easier manner…

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In today's retail, the concept of omnichannel shopping reigns supreme, as consumers navigate seamlessly between online and brick-and-mortar experiences. While retail giants effortlessly handle thousands of daily orders, smaller enterprises face unique challenges in managing their operations. Enter the Omnichannel Order Management System (OMS), a comprehensive solution designed to address these pain points. By offering scalability and cost-efficiency, an OMS ensures a smooth retail experience for businesses of all sizes. With features such as real-time inventory tracking and premium customer service, an OMS emerges as a vital tool for retailers seeking to expand their presence today's competitive market. Ready to take your business to new heights? Explore our blog and uncover the impact of Omnichannel OMS for small and mid-sized retailers. https://hubs.la/Q02zR1N40 #ShoppingandtheRetailIndustry #eCommerce #Retail #Omnichannel #OrderManagementSystem

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Why should retailers embrace a Distributed Order Management System (DOMS) for their retail business in 2024? As consumer behaviors shift, relying solely on physical storefronts is no longer enough. Enter Distributed Order Management Systems (DOMS), the ultimate tool for seamless operations across multiple channels. A DOMS centralizes order management, providing real-time inventory visibility and multiple fulfillment options like BOPIS and Ship from Store. This ensures seamless operations, reduces costs, and boosts customer satisfaction. Discover in HotWax Commerce's blog post, how a Distributed Order Management System can revolutionize your retail business in 2024. https://hubs.la/Q02zfX7D0 #ShoppingandtheRetailIndustry #eCommerce #Retail #Omnichannel #OrderManagementSystem

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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

Hello Retail friends, “Phantom inventory” sounds like a scary term – and for good reason. It refers to goods that appear available in inventory systems but are physically missing from the shelves. The result? Lost sales, frustrated customers, and distorted demand forecasts. The good news is there is a better way, by using predictive inventory. This is a technology that leverages machine learning to identify inventory inaccuracies, improving the accuracy of automatic replenishment. It also helps retailers identify inventory gaps and their impacts on the business. It’s a powerful way to leverage modern AI and machine learning in the retail supply chain. We’ve got an entire webinar coming up about this - in the meantime read all about it, and sign up for the webinar, here: #machinelearning #ai #retail #futureofretail

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It's interesting how retailers are slowly landing on the same three options for Self Checkout refinement to solve shrink. 1. Adding employee assisted checkout, 2. Adding barriers to leaving the store without confirmation of purchase (mechanical or human) or as a last resort, 3. Completely eliminating the option. From the consumer perspective its slowly becoming a negative experience... Curious what other options might exist..

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After a few turbulent years, the stage has been set for retail’s in-store resurgence — fueled by technology. According to Gartner, retailers are continuing to invest in technology to engage with customers in-store and online — and find new audiences in the process. This spending will focus on marketing and IT functions to target new generations of shoppers, meet rising expectations for personalization and security, and better manage operations across multichannel environments. #retailtech #storedesign #customerexperience

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Greg Wilson and Alex Jobin share how RELEX enhances inventory management for groceries, ensuring product freshness and reducing waste. Dive into how we're leading with sustainability in retail in this article from Supermarket Perimeter. #retail #supplychain

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🚀 Insights from Walmart CEO Doug McMillon on eCommerce and Omnichannel Retail. Brilliant interview, thanks Stratechery. Here are some key takeaways from our conversation: 🔹 𝐖𝐚𝐥𝐦𝐚𝐫𝐭’𝐬 𝐞𝐂𝐨𝐦𝐦𝐞𝐫𝐜𝐞 𝐄𝐯𝐨𝐥𝐮𝐭𝐢𝐨𝐧: Initially, the potential of eCommerce was underestimated, but the acquisition of Jet.com was a game-changer. It brought in essential expertise and new perspectives, enabling Walmart to aggressively pursue and integrate digital retail. 🔹 𝐎𝐦𝐧𝐢𝐜𝐡𝐚𝐧𝐧𝐞𝐥 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐲 𝐚𝐧𝐝 𝐈𝐧𝐭𝐞𝐠𝐫𝐚𝐭𝐢𝐨𝐧: Leveraging its vast network of physical stores, Walmart has created a seamless omnichannel experience. With stores in close proximity to customers, especially for groceries, Walmart has a unique competitive edge. Integrating supply chain and technology across channels has enhanced both customer experience and operational efficiency. 🔹 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐜𝐚𝐥 𝐓𝐫𝐚𝐧𝐬𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧: The transition to a tech-savvy retailer required adopting agile methodologies and fostering cross-functional collaboration. Significant investments in automation and AI are optimizing Walmart’s supply chains and inventory management, showcasing a forward-thinking approach to retail technology. 🔹 𝐆𝐫𝐨𝐜𝐞𝐫𝐲 𝐚𝐬 𝐚 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐀𝐝𝐯𝐚𝐧𝐭𝐚𝐠𝐞: Integrating grocery with eCommerce has been a major advantage for Walmart. The grocery business drives frequent customer visits and supports the broader eCommerce strategy, solidifying Walmart’s market position by offering a comprehensive shopping experience both online and in-store. 🔹 𝐌𝐚𝐫𝐤𝐞𝐭𝐩𝐥𝐚𝐜𝐞 𝐚𝐧𝐝 𝐀𝐝𝐯𝐞𝐫𝐭𝐢𝐬𝐢𝐧𝐠 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬: Walmart’s marketplace and its advertising platform, Walmart Connect, are crucial areas of focus. These initiatives aim to diversify revenue streams, enhance customer acquisition, and leverage Walmart's scale in both physical and digital retail. Do you follow Walmart's journey? #EmerceConsulting #Ecommerce #RetailInnovation #Omnichannel #Walmart #Leadership #TechnologyInRetail

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Having the right merchandise at the right time to hit the Target is how the team at Target is getting it done. Thanks for sharing, Gretchen McCarthy, your insight on deploying data and technology to look at solutions differently while meeting changing customer demands. Read more: https://lnkd.in/gq3uJptq

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