The Power of Incremental Gains in Inventory Planning
It's a given that inventory planners are always wrong. I learned this lesson early in my inventory planning career at Lands’ End many years ago. It was understood by the inventory staff that there would be mention at the end-of-year company meeting that inventory negatively affected results. The message was either, "demand was great, unfortunately, we were unable to capture all the sales due to shortage of inventory" or "sales were good, but unfortunately, gross margin suffered due to markdowns to liquidate excess inventory."
Joe is Vice President of Product Solutions at Software Paradigms International (SPI), an award-winning provider of technology solutions, including merchandise planning applications, mobile applications, eCommerce development and hosting and integration services, to retailers for more than 20 years.
Joe is a 34-year veteran of the retail industry with hands-on experience in marketing, merchandising, inventory management and business development at multichannel retail companies including Lands’ End, LifeSketch.com, Nordstrom.com and Duluth Trading Company. At SPI, Joe uses his experience to help customers and prospects understand how to improve sales and profits through applying industry best practices in merchandise planning and inventory management systems and processes.
