Walgreens sells 18, different things at 8, different stores. That means they have to make million predictions about how much merchandise to order and put out every week.
Obviously, they use computers, but they also have some pretty complex data to crunch with those computers. The key is having lots of history and data. We even have a bacon report for the Christmas holiday to monitor that. New products or fashion lines are what really involve some serious guesswork.
But for any supply chain, one wrong move or bit of bad luck, and you can have a stack of 30, toilets on your doorstep. Just ask James Merwin. He just had to discount them. No crushing or crumbling required. Apparel companies, from elite fashion houses to mass-market chains, are saddled with an inventory glut following monthslong closures during the pandemic.
Now, they are trying to get rid of the excess without angering waste-conscious consumers—or harming their brands. Some fashion companies have for years quietly destroyed unsold goods rather than allow them to be sold at a discount. But that practice is drawing increasing scrutiny from environmental groups, shoppers and governments, forcing brands to find fresh ways to move clothes, shoes and other products piling up in their inventories.
You may change your billing preferences at any time in the Customer Center or call Customer Service. Compared to the last fiscal, Jain said the firm has cut sales forecast by per cent.
It is a global B2B marketplace for ready-to-sell and wholesale goods that enables businesses to sell internationally, by enhancing their marketing efforts, sales processes and improving efficiencies. The store is dynamically upgraded and its marketing is done online and through periodic virtual trade fairs organised on the Fibre2Fashion platform to receive exclusive buyers' inquiry.
Plus, there is back-end support through online chat and F2F customer support team to solve queries and facilitate increased buyer-seller transactions," adds Kapadia. The eight focused categories for ready-to-sell and wholesale goods on F2FMart are fabric and textiles, PPE for medical and civil use, apparel, outerwear, sportswear, home textiles, footwear and fashion accessories.
Textile and clothing manufacturers who have unsold inventory, excess production or order cancellations from brands or retailers, and have permission to resell in the geography, can take advantage of F2FMART-the global B2B marketplace for ready-to-sell and wholesale goods. On their dashboard, sellers can see interested buyers for their products. It has features of automated reach-out through e-mail, SMS and push notifications to targeted buyers.
Also included is the provision for live chat with buyers that ensures the right product attention from interested buyers in the shortest time. Footwear retailer Woodland said it will halt fresh collections for markets in India's south and west and use up stocks in stores right now. So there's no point making new merchandise. We will play with existing stock, adding a few more for the winter line which is mostly north-India centric," Harkirat Singh, managing director, Woodland, said.
The retailer has put expansion plans on hold due to demand uncertainty. The retailer's spring summer inventory will not be offered at deep discounts or liquidation as the weather conditions in India are very different to that of Europe and therefore, the company can carry forward its spring summer collection, according to Vineet Gautam, country head, Bestseller India.
Gautam said e-commerce as a platform will definitely get a head start once the lockdowns ease. Those relationships are only getting stronger day by day," he said, but did not discount the ability of physical retail to bounce back gradually.
Madame's Jain said the retailer is anticipating a scenario where the share of online sales will get a huge fillip. Woodland's Singh also said the retailer will push online sales. Burning clothes is a bad look, said Bill Lewis of AlixPartners.
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