Omnichannel fulfillment can lead to growth and profitability for retailers
The state of retail has changed immeasurably over the last few years, forcing brands and their logistics partners to approach fulfillment in new ways. Once seen as a cost center, supply chain and the management of inventory now has a seat at the revenue table.
The state of retail has changed immeasurably over the last few years, forcing brands and their logistics partners to approach fulfillment in new ways. Once seen as a cost center, supply chain and the management of inventory now has a seat at the revenue table.
The pandemic and supply shortages placed this front and center for retailers who realized they needed to find better ways to get the inventory on hand to the customers who wanted it. With that, omnichannel fulfillment re-emerged as more than a nice to have but a business necessity.
“Retailers have gotten that religion to the extent that if they’ve got inventory, then they want to be able to sell it and maximize the price for that inventory,” said Justin Stone, senior vice president of business development and customer success, Deposco. “It’s not going to do any good if you’ve got an online buyer that is looking for an item but it’s sitting in your store and it’s not available for them to buy. In that sense, inventory and supply chain has crept its way into a revenue enabler.”
Regional retailer Psycho Bunny recently implemented Deposco’s Bright Suite omnichannel platform across more than 60 stores to remedy this exact problem. The brand was challenged by a fragmented fulfillment system that did not provide real-time inventory visibility, resulting in stock-outs and lost sales from both online and in-store channels.
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