In the post-pandemic era, costs are increasing across the board and it is becoming a challenge for retailers to gain control. Using a multi-echelon inventory optimization (MEIO) strategy, retailers can reduce costs and increase service levels. Retailers need to understand how customers are influenced, which is nearly impossible with a traditional single-threaded inventory optimization approach.
To position a company for success with an MEIO strategy, organizations should consider establishing a foundation of data based on key areas. Focusing on these strategic areas will help leverage additional data points to fine-tune predictions for greater accuracy:
Download the white paper to unlock the other key strategic focus areas and benefits for omnichannel organizations.