MASTERING THE OMNI-CHANNEL SUPPLY CHAIN
The fashion and retail industry is in a state of flux. Multi-channel selling through physical and online channels is now the norm even for the most traditional retail and fashion brands. However, multi-channel is rapidly morphing into omnichannel retail – and there is a big difference between the two. Particularly when it comes to the supply chain.
Multi-channel retail has been around for a long time. The term simply means selling through more than one channel – e.g. bricks-and-mortar stores, catalogue or online and kiosks. In most companies, each channel was managed separately, with its own demand forecasts, promotions and even price adjustments. Not only is multi-channel retailing expensive (multiple inventories, redundant supply chain assets, etc.), it no longer reflects how the shopper shops today.