The New Science of Retailing: How Analytics are Transforming the Supply Chain and Improving Performance Review

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The New Science of Retailing: How Analytics are Transforming the Supply Chain and Improving Performance ReviewThis book describes how to apply modern analytical supply chain tools and concepts to retail management, with particular attention to pitfalls that hinder successful execution. Written for executives in retailing, the book has many quotes from successful retail executives and numerous examples of pitfalls.
For example, it demonstrates with a numerical example why it may be profitable to use airfreight for apparel - the resulting shorter lead time enables a retailer to cope better with demand uncertainty (forecast error).
The authors argue persuasively that appropriate metrics are critical for good supply chain performance. For example, one should use the sales-capture rate instead of the so-called "in-stock rate" (percentage of time an item has positive inventory) since inventory records are notoriously inaccurate; when the computer says there is one item in stock, often that unit isn't in the proper display space so no potential buyers can find it, and hence sales won't occur.
The book is quite well written and understandable and enjoyable to read.
Full disclosure: this reviewer knows both authors personally and holds them in high regard.
The New Science of Retailing: How Analytics are Transforming the Supply Chain and Improving Performance Overview

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