Tactics to take back control of Inventory

The speaker outlines several key tactics retailers are employing to regain control over their inventory management challenges. The primary approach involves implementing more frequent replanning and reforecasting activities in merchandise planning, which has shifted from being a safety net to becoming the main operational activity. This replanning occurs not just at the granular SKU level but also at macro levels across categories and entire businesses. Retailers are naturally adopting more agile approaches even without formal reforecasting processes, including refreshing plans more quickly, developing contingency plans, and working with multiple scenarios to stay responsive. A critical strategy highlighted is delaying go-to-market decisions as late as possible to gather maximum information before committing to inventory decisions - a practice exemplified by Cotton On's approach of postponing decisions until the last possible moment. Additionally, retailers are strategically focusing more on their core offerings while trimming peripheral products, essentially doubling down on what they're known for and reducing risk exposure while maintaining brand consistency and having reliable products available even when market conditions become challenging.