4 Multichannel Inventory Planning Best Practices

It seems every retailer I've spoken with recently is scrambling to gain control of their inventory planning, regardless of channel. It's not just the cross-channel marketers fighting it; even pure-play internet retailers are struggling to support their "minichannels" — search engine optimization, search engine marketing, email marketing, Amazon stores and more. In the last few weeks I've heard pleas for help from:

• an online apparel retailer;
• a management company overseeing 30-plus e-commerce businesses with wide product ranges, seasonal peaks, high volumes and significant promotional activities;
• a multichannel hardgoods retailer with equally strong catalog and e-commerce channels;
• a catalog retailer marketing 12 unique brands; and
• a large multichannel wholesaler/retailer.

While each of these companies may feel their situation is unique, the fact is that they're more alike than different. They sell products to consumers over time. They manage assortment plans; forecast future daily, weekly and monthly demand; and try to align their inventory purchases to support their plans. They strive to have the right inventory on hand in the right location at the right time to fulfill customer demand with the least amount of inventory investment.