CIO OPINION
CIOs need to provide workers – whether in store or at headquarters – with better visibility over stock levels in real-time .
Arming workers with easy-to-use tools that can help them provide better service to customers is a direct path to improved business outcomes .
3 . Make data collection your top priority – and use it
Data , whether on customer demands and profiles , stock levels or buying patterns , is gold dust – assuming it ’ s accurate and timely .
These sentiments are reinforced by the ongoing backlash against fast fashion retailers , which have quickly fallen out of fashion after the sector ’ s rapid ascension . The damage caused by over manufacturing has been made clear to shoppers and retailers need to learn from the segment ’ s fall from grace .
CIOs need to provide workers – whether in store or at headquarters – with better visibility over stock levels in real-time and cascade this information widely across systems and teams . Floor staff can be shown which items most urgently need to be moved , like old food or last season ’ s goods , and management can more easily see allocation of inventory to ensure outposts and distribution centers are stocked according to customer profiles and demand . p
When collected and used effectively , it can reduce product wastage and thus boost profits by ensuring resources aren ’ t literally ending up in landfills . Better forecasting of demand means that only what is needed can be produced or ordered , and with consumers increasingly scrutinising retailers ’ environmental credentials – 52 % report changing their shopping habits due to sustainability concerns – it ’ s imperative brands adjust to those demands .
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