We all heard about how Target’s ambitions in Canada were dashed, but is that the end of the story? Of course not, Target is still on the move. Kevin O’Marah writes for Forbes about what new strategies the company has put in place in order to bounce back.
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One challenge supply chains for big retailers like Target face is the proliferation of SKUs that has resulted from customers demanding increased choice. Maintaining this many SKUs means more inventory sitting in distribution centers waiting for use. O’Marah says engaging in better forecasting and joint promotions management through supplier collaboration is a way to get around this. Another thing to do is increase the training of workers who remain at the company as the overall workforce shrinks, so that they are empowered to take on many roles. In the end, O’Marah says the three things Target needs are excellent cost-to-serve visibility, a well-used analytics team, and top priority data security. You can read the full article here: http://www.forbes.com/sites/kevinomarah/2015/03/06/target-is-the-supply-chain-ready/