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How Retailers Can Fund Strategic Priorities April 01, 2022 (0 comments)

Retail Store

New York, NY--Inventory management has been a challenging task for retailers since the onset of the COVID-19 pandemic.

It's not expected to change so soon either.

"It's been difficult to plan inventory flow with much precision," said Nordstrom CEO Erik Nordstrom, according to a report by Sourcing Journal. "We do not expect those conditions to change anytime soon, so it's really on us to find ways of mitigating that."

When resource acquisition can be tricky, funding priorities can take a hit. Some preferences, as highlighted by Retail Wire, include:

The question remains: how to proceed with funding and managing priorities. According to data reported by Consumer Goods Technology, most retailers aren't entirely applying advanced analytics or artificial intelligence for forecasting and inventory management. 

Read more in the Retail Wire report.

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