Seamless Synchronization: Managing Inventory in Today’s CG Industry

Source: consumergoods.com

A consumer goods company may choose to open its own branded store, sell via a digital marketplace, or sell on an e-commerce platform - a consistent challenge is managing the dynamic inventory and the robust supply chain. Maintaining customer experience becomes an additional challenge when high rates of returns are adding to inventory holding costs.

One can assume that the COVID-19 pandemic has brought about a universal change in consumer behavior, with online shopping getting a sudden boost. According to Ambeshwar Nath, Senior Vice President and Regional Head for CPG, Retail and Logistics (CRL), to make operations efficient, consumer goods companies need to move towards digital transformation powered by Artificial Intelligence (AI) and automation. It will bring offline and online operations together, leading to enterprises managing their inventory better. A sportswear manufacturer and retailer use a platform that supports intelligent and efficient back-office processes, which contributes to fewer cancellations and increased product availability.

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