- Written by Super User
- Category: Retail
It’s the 4th quarter of the year when retailers are finalizing their stock in anticipation of the holiday season. Historical trends set the stage for quantities, locations, and pricing but a major shift in how consumers consider their own purchase strategies will play havoc with retailers. The problem is with product returns and how consumers now consider their purchases to be temporary.
Point of sale (POS) data has long been the domain of the retailer that collects it. It hasn’t always available – in detail, anyway – to manufacturers and suppliers that could use the data for such things as demand planning, improving supply chains to avoid stock outs and to better understand and act on buying habits so they can more accurately allocate advertising dollars. Of course, all those benefits would in turn benefit the retailers, which could improve planning and forecasting, reduce (or eliminate) stock outs, and even have leverage to enact and enforce service level agreements with suppliers.