For those non-essential retailers with all doors closed, almost all store commerce has been stopped for weeks, and we can’t say with certainty when stores will re-open. POs have been cancelled or deferred. Inventory is stale and inventory accuracy is even more in question. How do you plan now for steps that need to take place in advance of re-opening and as operations resume? This practical session will help you consider measures to stabilize an unknown environment, minimize the impact of the excess, stale, and displaced inventory, as well as manage the risks of future inventory plans.
In this podcast excerpt of the 1st webinar in Parker Avery’s Reconstructing Retail series, Parker Avery experts Clay Parnell, Amanda Astrologo, and Rob Oglesby are joined by industry analyst Joe Skorupa in helping you understand:
- How to evaluate potential inventory options – risk vs. reward
- How to think about your assortments moving forward
- How to consider future demand, by channel, based on likely store opening and ramp-up scenarios
- What systems and tools will be most useful as you manage through the immediate season and simultaneously plan for the next