Kohl's has recently overhauled its core merchandising, inventory, and pricing operations with a retail merchandise operations management solution, allowing the retailer to coordinate a unified system of record for inventory to better serve customers across channels, and to simplify its business user experience. The merchandising transformation at Kohl's represents a key step in the retailer's longer-term strategy, establishing a robust, stable, and scalable foundation for deploying new retail science, optimization, and planning solutions that will help to identify market opportunities and drive profitable growth.
The deployment streamlines and improves the inventory, pricing, and promotions operations that, for one million SKUs, determine how well larger categories and individual items perform both online and at each of Kohl's more than 1,100 stores nationwide. By managing pricing and promotions from a unified view that delivers accurate, real-time insight from multiple sources, the retailer will gain efficiencies with a more agile promotional pricing process.
The biggest challenge in retail today is not the digital revolution, but rather customer evolution and making interactions matter. Empowered by digital devices, consumers are navigating their own purchasing journey as they move seamlessly across channels. Retailers can combat this evolution through better merchandising, pricing and promotions across channels.
On Monday, January 12, Herman Nell of Rent-a-Center and Ratnakar Lavu, EVP and digital head for Kohl's Department Stores, will discuss the impact of digitization on traditional retailers in "From Moments to Journeys. Make Each One Matter." In the age of technology, innovation will never cease and customer behavior will rule brand strategies. Retailers will have to cross the technology chasm and align with this new reality.