Personal ABM: An Account-Based GTM Firm’s Post

I always like to see what the big retailers are doing so that we can apply their learnings into our own stores. Thankfully, McKinsey & Company are continually doing the research for us! Their latest report, "Deconstructing Silos to Discover Savings", highlights some key areas where even small retailers can make a big impact. Here are 3 quick wins to implement in your store: ☑️ Know your stock: Even if you have a small team, keeping a close eye on your inventory can save you time and money. Knowing what's selling well and what's sitting on the shelves helps you reorder smart and avoid stockouts. ☑️ Focus on the customer: Understand your customer’s needs better and tailor your offerings accordingly. A happy customer is a returning customer! ☑️ Optimize inventory: Manage your stock levels effectively to avoid stockouts and excess inventory. There you go. See, even the biggest retailers are going back to basics. It's easy to get caught up in the latest trends, but focusing on the fundamentals is often the key to growth. Why do we as independent retailers often overlook the simple things that can make a big difference?

I always like to see what the big retailers are doing so that we can apply their learnings into our own stores. Thankfully, McKinsey & Company are continually doing the research for us! Their latest report, "Deconstructing Silos to Discover Savings", highlights some key areas where even small retailers can make a big impact. Here are 3 quick wins to implement in your store: ☑️ Know your stock: Even if you have a small team, keeping a close eye on your inventory can save you time and money. Knowing what's selling well and what's sitting on the shelves helps you reorder smart and avoid stockouts. ☑️ Focus on the customer: Understand your customer’s needs better and tailor your offerings accordingly. A happy customer is a returning customer! ☑️ Optimize inventory: Manage your stock levels effectively to avoid stockouts and excess inventory. There you go. See, even the biggest retailers are going back to basics. It's easy to get caught up in the latest trends, but focusing on the fundamentals is often the key to growth. Why do we as independent retailers often overlook the simple things that can make a big difference?

Conlego's Benton Uttley reminds us that a well-orchestrated framework, process and tools for approaching #merchandising category work results in outsized-outcomes in #sales, #marketshare, and #profit. #retail #categorymangement

Growth in retail can take many forms, from expanding stores to acquiring new customers. However, established companies often find that optimizing internal processes is often a more cost-effective strategy that boosts growth through improved decision making and output while magnifying the effects of other initiatives. Discover how to enhance your category management processes to make better decisions: https://lnkd.in/g6Af6ekc

📣 New from WWD & 7thonline! We’re excited to unveil our Enhanced Global Inventory Management and Production Demand Planning Solutions at the National Retail Federation Big Show. For over 25 years, we’ve mastered the art of upstream planning. Now, we’re going downstream to help our customers solve problems holistically, and create a truly end-to-end #InventoryManagement solution. 🔗 What’s New? - Extended forecasting horizons to reduce bottlenecks - Seamless integration of upstream and downstream operations - Real-time visibility into inventory across all locations - Solutions to connect wholesale, DTC, and digital operations Read more about this game-changing bridge between sales forecasting and supply chain execution here:  https://lnkd.in/eM6XtxeN Attending #NRF2025? 📍 Visit us at Booth 1659 from Jan 12-14 to learn how we can shape the future of retail together. #RetailInnovation #RetailTech #AIinRetail #DemandPlanning

Day 7 (2C) : "Revolutionizing Vendor Management: Unleashing the Power of Collaborative Planning, Forecasting, and Replenishment (CPFR) in the Beauty Industry" As a seasoned expert in vendor management strategies, I'd like to share insights on the transformative potential of Collaborative Planning, Forecasting, and Replenishment (CPFR) for companies like Ulta Beauty. Introduction: In today's dynamic beauty industry, efficient vendor management is crucial for cost control and sustainability. CPFR is a powerful tool that can revolutionize supply chain collaboration between Ulta Beauty and its vendors. What is CPFR? CPFR is a collaborative approach that integrates supply chain data, analytics, and processes to enhance demand forecasting, inventory management, and replenishment. It involves three key elements: 1. Collaborative Planning: Aligning demand forecasts and supply plans between Ulta Beauty and its vendors. 2. Collaborative Forecasting: Jointly developing and sharing demand forecasts to improve accuracy and reduce risks. 3. Collaborative Replenishment: Synchronizing inventory and replenishment processes to ensure efficient and timely product availability. Examples of CPFR in Action: Let's explore how other companies have successfully implemented CPFR to enhance their supply chain management: Macy's, Inc.: Macy's modernized its supply chain strategy by integrating CPFR practices, leading to improved demand forecasting, reduced markdown allowances, and enhanced inventory productivity. Walgreens: Walgreens implemented CPFR to improve inventory management and reduce out-of-stocks, resulting in increased customer satisfaction and sales. Benefits of CPFR for Ulta Beauty: By adopting CPFR, Ulta Beauty can expect to: Enhance Demand Forecasting: Improve forecast accuracy by sharing data and insights with vendors, leading to better inventory management and reduced stockouts. Reduce Costs: Minimize markdown allowances and inventory holding costs by optimizing inventory levels and reducing excess stock. Improve Vendor Relationships: Foster collaboration and trust with vendors, leading to more efficient and effective supply chain operations. Increase Customer Satisfaction: Ensure timely and reliable product availability, improving the overall shopping experience for Ulta Beauty customers. Conclusion: By embracing CPFR, Ulta Beauty can revolutionize its vendor management strategies, leading to enhanced cost control, sustainability, and customer satisfaction. As seen with other industry leaders, the benefits of CPFR are significant and can help Ulta Beauty maintain its competitive edge in the beauty industry. right? #Logistics #CostManagement #RouteOptimization #Transportation #SupplyChain #Efficiency #BusinessStrategy #DataAnalytics #CustomerSatisfaction #StayTuned #Ajreddy

Mastering Category Management: The 8 Key Steps to Success Category management is a crucial process that helps retailers manage product categories as distinct business units to optimize sales, profitability, and customer satisfaction. Here are the 8 steps to mastering category management: 1. Category Definition: Begin by clearly defining the product category. Consider the products from the customer’s perspective and group them based on the need they fulfill. 2. Role Assignment: Assign a specific role to each category (e.g., destination, routine, seasonal, convenience). The role should align with the overall business strategy and customer demand for that category. 3. Category Assessment: Conduct a thorough analysis of the category’s current performance, including sales, profitability, and market share. This step involves reviewing consumer trends, competitive positioning, and internal data. 4. Category Objectives: Establish clear and measurable objectives for the category, such as increasing sales, enhancing market share, or improving margins. These objectives should directly support your company’s overall goals. 5. Category Strategy: Develop a strategy that will achieve the objectives. This includes decisions about product assortment, pricing, shelf placement, and promotional activity. 6. Tactical Implementation: Execute the strategy by coordinating with suppliers, managing inventory, and ensuring products are displayed and priced according to plan. This step involves cross-functional teamwork between merchandising, marketing, and supply chain teams. 7. Category Review: Regularly evaluate the category’s performance against the set objectives. This step involves tracking key metrics like sales, inventory turnover, and profitability to ensure the strategy is on track. 8. Optimization: Make data-driven adjustments to continuously optimize the category’s performance. Be ready to adapt to changing consumer behavior, market trends, and competitive actions to maintain growth and relevance. Conclusion: A successful category management process enables retailers to better serve their customers, improve efficiency, and drive business growth. By following these 8 steps, you can ensure that your categories are positioned for success. What’s your experience with category management? For more details visit our Udemy course 👇👇👇 https://lnkd.in/dFk_6fHS #CategoryManagement #RetailStrategy #ProductAssortment #BusinessGrowth #DataDrivenDecisions #CustomerExperience #RetailSuccess #MerchandisePlanning #RetailInnovation #SalesOptimization

This article is a must-read for anyone who has ever navigated the complexities of selling to national retailers like Home Depot or Walmart. It offers a comprehensive introduction to the End-to-End (e2e) excellence mindset, highlighting the critical role vendors can play in solving retailers' toughest challenges. Great insights into the operational hurdles faced by retailers and how e2e transformations can unlock significant cost savings and enhance customer experience. A valuable read for sales professionals and retail partners alike.

📊 𝗧𝗵𝗲 𝗣𝗼𝘄𝗲𝗿 𝗼𝗳 𝗞𝗻𝗼𝘄𝗶𝗻𝗴 𝗥𝗲𝘁𝗮𝗶𝗹𝗲𝗿 𝗜𝗻𝘃𝗲𝗻𝘁𝗼𝗿𝘆 𝗟𝗲𝘃𝗲𝗹𝘀 𝗕𝗲𝗳𝗼𝗿𝗲 𝗢𝗿𝗱𝗲𝗿𝗶𝗻𝗴 𝗠𝗼𝗿𝗲 📊 In today’s fast-paced retail world, more is not always better. Before placing that next big order or hitting that manufacutring button to make more, it's crucial to first understand how much of your product is already sitting on your retailer's shelves or in their warehouse. How many weeks of inventory are already at retail is a critical stat that all suppliers need to know. 𝗪𝗵𝘆? 𝗛𝗲𝗿𝗲’𝘀 𝘄𝗵𝘆 𝗶𝘁 𝗺𝗮𝘁𝘁𝗲𝗿𝘀: 𝗔𝘃𝗼𝗶𝗱 𝗢𝘃𝗲𝗿𝘀𝘁𝗼𝗰𝗸𝗶𝗻𝗴: Excess stock can quickly turn into dead stock, tying up capital and reducing your margins. Knowing current inventory levels allows for smarter purchasing decisions. 𝗙𝘂𝗹𝗳𝗶𝗹𝗹 𝗗𝗲𝗺𝗮𝗻𝗱 𝗪𝗶𝘁𝗵𝗼𝘂𝘁 𝗗𝗲𝗹𝗮𝘆: If inventory levels are low, you can proactively replenish before products go out of stock. This ensures your products are available when customers need them, avoiding lost sales. 𝗦𝘁𝗿𝗲𝗻𝗴𝘁𝗵𝗲𝗻 𝗥𝗲𝘁𝗮𝗶𝗹𝗲𝗿 𝗥𝗲𝗹𝗮𝘁𝗶𝗼𝗻𝘀𝗵𝗶𝗽𝘀: Demonstrating that you are in tune with their needs shows your retail partners that you’re working with them to maintain optimal inventory levels. This can lead to better collaborations and long-term partnerships. 𝗬𝗼𝘂𝗿 𝗿𝗲𝘁𝗮𝗶𝗹𝗲𝗿’𝘀 𝗱𝗮𝘁𝗮 𝗶𝘀𝗻’𝘁 𝗷𝘂𝘀𝘁 𝗻𝘂𝗺𝗯𝗲𝗿𝘀; 𝗶𝘁’𝘀 𝗶𝗻𝘀𝗶𝗴𝗵𝘁. The more you know about their inventory, the better your decisions—and the better your bottom line. Let’s start thinking smarter, not just bigger. Remember, just because you have shipped your goods doesn't mean you have sold your goods. Need help? - Book a meeting with me at the link above. #InventoryManagement #SupplyChain #RetailSuccess #SalesStrategy #DataDriven #posdatamanagement #posdataguy

𝐖𝐚𝐧𝐭 𝐭𝐨 𝐝𝐨𝐦𝐢𝐧𝐚𝐭𝐞 𝐲𝐨𝐮𝐫 𝐢𝐧𝐯𝐞𝐧𝐭𝐨𝐫𝐲 𝐥𝐢𝐤𝐞 𝐭𝐨𝐩 𝐫𝐞𝐭𝐚𝐢𝐥𝐞𝐫𝐬? The top 1% of retailers don’t just manage inventory —𝐭𝐡𝐞𝐲 𝐩𝐫𝐞𝐝𝐢𝐜𝐭 𝐭𝐡𝐞 𝐟𝐮𝐭𝐮𝐫𝐞. Their secret? Precision practises that anyone can follow —𝐢𝐟 𝐲𝐨𝐮 𝐤𝐧𝐨𝐰 𝐰𝐡𝐞𝐫𝐞 𝐭𝐨 𝐬𝐭𝐚𝐫𝐭. 𝟓 𝐈𝐧𝐯𝐞𝐧𝐭𝐨𝐫𝐲 𝐒𝐞𝐜𝐫𝐞𝐭𝐬 𝐟𝐫𝐨𝐦 𝐓𝐨𝐩 𝐑𝐞𝐭𝐚𝐢𝐥𝐞𝐫𝐬: STEAL these now and transform how you manage stock👇 𝐑𝐞𝐚𝐥-𝐓𝐢𝐦𝐞 𝐃𝐚𝐭𝐚 𝐓𝐫𝐚𝐜𝐤𝐢𝐧𝐠 Top retailers don’t wait for the end of the day to update inventory. They track everything in real-time. This cuts down on errors and ensures they never oversell or understock. 𝐃𝐞𝐦𝐚𝐧𝐝 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭𝐢𝐧𝐠 The best retailers don’t just guess what’s going to sell—they use data to predict trends. Demand forecasting is their key to stocking the right products at the right time. 𝐀𝐮𝐭𝐨𝐦𝐚𝐭𝐞𝐝 𝐑𝐞𝐨𝐫𝐝𝐞𝐫𝐢𝐧𝐠 Manual reordering is out. Automated systems calculate optimal reorder points, ensuring products never run out. This means more time for retailers to focus on growth. 𝐑𝐨𝐥𝐞-𝐁𝐚𝐬𝐞𝐝 𝐈𝐧𝐯𝐞𝐧𝐭𝐨𝐫𝐲 𝐀𝐜𝐜𝐞𝐬𝐬 Not everyone in the company needs to see everything. Workers see only what they need, while CEOs get full visibility. This balance improves efficiency and limits errors. 𝐒𝐮𝐩𝐩𝐥𝐢𝐞𝐫 𝐃𝐢𝐯𝐞𝐫𝐬𝐢𝐟𝐢𝐜𝐚𝐭𝐢𝐨𝐧 Retailers know that relying on one supplier is risky. They build strong relationships with multiple suppliers to ensure they’re never left without stock. 𝐖𝐚𝐧𝐭 𝐭𝐨 𝐭𝐚𝐤𝐞 𝐜𝐨𝐧𝐭𝐫𝐨𝐥 𝐨𝐟 𝐲𝐨𝐮𝐫 𝐢𝐧𝐯𝐞𝐧𝐭𝐨𝐫𝐲 𝐥𝐢𝐤𝐞 𝐭𝐡𝐞 𝐛𝐢𝐠 𝐩𝐥𝐚𝐲𝐞𝐫𝐬? Start with these 5 steps. 🔑 Inventory planning isn’t just about products 𝐈𝐭’𝐬 𝐚𝐛𝐨𝐮𝐭 𝐩𝐫𝐞𝐩𝐚𝐫𝐚𝐭𝐢𝐨𝐧. If you’re not using these strategies, you’re already behind. Looking for more ways to optimise your inventory? Let’s talk. Drop a comment or DM us to learn more. 𝐏𝐒: 𝐖𝐡𝐢𝐜𝐡 𝐨𝐟 𝐭𝐡𝐞𝐬𝐞 𝐬𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐞𝐬 𝐚𝐫𝐞 𝐲𝐨𝐮 𝐚𝐥𝐫𝐞𝐚𝐝𝐲 𝐮𝐬𝐢𝐧𝐠? 𝐋𝐞𝐭 𝐮𝐬 𝐤𝐧𝐨𝐰 𝐢𝐧 𝐭𝐡𝐞 𝐜𝐨𝐦𝐦𝐞𝐧𝐭𝐬. #inventoryplanning #inventorymanagement #merchmix