In a couple of recent blog posts, we’ve discussed strategies that retailers used in 2009 to prepare for that holiday peak season, and we’ve noted some findings from a recent Supply Chain Consortium survey. Now Dan Avila, guru of retail consultants, is back to share some more findings and a link to the full 2009 Retail Peak Season Report.
-- Jim
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Retailers really had to put on their thinking caps for this past holiday season. As with other industries, retail companies had unprecedented economic quandaries going on around them, and they had to come up with ways to get through their busiest time successfully.
Not only have their efforts worked for the 2009 peak season, but retailers are also planning to use many of the same strategies as the 2010 holiday season approaches later this year.
For the past peak season, as the Supply Chain Consortium’s 2009 Retail Peak Season Report found, the top four retail inventory planning strategies used by respondents were:
Reduced inventory levels
Increased emphasis on forecasting
Improved planning processes and tools
Increased reporting and information
Looking ahead to the 2010 holiday season, retailers surveyed also said that they plan to focus on optimizing inventory levels and placement, improving forecasting methods, continuing to refine their SKU base, and executing initiatives with suppliers more effectively in the retail supply chain.
What are your plans for 2010? Will you be using these strategies? Be sure to download the report if you want more details before your peak season begins.
--Dan
More Blog Posts on Retail:
Back to the Future: For Success in Retail, Look to Lessons Learned During the 2009 Peak Season
Retail's Rebound Linked to 'New Frugality' of Consumer
Retail 2009 Has Been Extremely Challenging, But Here are 5 Issues to Address Now