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What Are Retail KPIs? The Most Important Retail Metrics in 2023

ShipBob

By monitoring particular metrics over time across your online sales, in-store sales, and operations, you’ll gain quantitative insights into your business performance. A retail KPI (or “Key Performance Indicator”) refers to a quantifiable metric used to measure how a retail business is performing. Why are retail metrics important?

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The Changing Face of Retail

Enterra Insights

“Trip” Tripathy, leader of Kaufman Rossin’s CEO, Board & Shareholder Business Advisory Services practice, observes, “Retail was undergoing a transformation even before the COVID-19 pandemic, and the events of the past year have only accelerated this trend, increasing pressure on business leaders to shift their strategic focus to the future.”[1]

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5 game-changing reports in Luminate Charter

crisp

One of the biggest events in retail in 2023 was the launch of Walmart Luminate , a data platform offering suppliers more visibility and data access than ever before. Omnichannel sales reporting One of the biggest additions to Luminate is the inclusion of omnichannel sales data.

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What to Look for in Your Retail Supply Chain Planning Software

ThroughPut

This in turn has led to the emergence of omnichannel sales, which means that there are many more channels to maintain and leverage as retailers look to improve customer experience. At the same time, however, they also need to do this at the lowest possible cost so that they can conserve and grow their margins across all channels.

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Understanding Supply Chain Management

SupplyPike

Omnichannel retailers must discover the best way to blend the occasionally disputing demand between offline stores and online retail. Five Key Metrics for Monitoring the Impact of Panic Buying on your Supply Chain. Our Retail Intelligence software allows you to view all sorts of metrics in easy to understand charts, maps, and numbers.

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Despite COVID-19, the Concurrent Planning Market is Booming

Logistics Viewpoints

Many companies have a metric that measures plan accuracy and these companies work, for example, to move plan accuracy from 75% to 78%. According to Cyrus Hadavi, the CEO of Adexa, the key to concurrency (which Adexa calls “event driven planning”) is a unitary model of the extended supply chain, both horizontal and vertical.

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Collaboration and Visibility in the Supply Chain

Oracle SCM

Often this data is rolled up organizationally, geographically or in distribution through performance metrics or key performance indicators (targets change with these roll ups). It’s important to note that not every event necessarily requires immediate action. safety stock or other planned parameters).