A component of supply chain management, inventory management supervises the flow of goods from manufacturers to warehouses and from these facilities to point of sale. A key function of inventory management is to keep a detailed record of each new or returned product as it enters or leaves a warehouse or point of sale.
How can personalization help with inventory management?
Personalization depends to a large degree on both the quantity and accuracy of data. Without data relating to purchases, for example, the management of an online store inventory is made much more difficult. Personalization delivers the data necessary to manage an inventory and in a way, they complement each other. For example, many leading brands take inventory data and expose it as product badges for low-in-stock items, to create a sense of urgency or fear of missing out. Qubit offers two data models specifically for low-in-stock and back-in-stock.