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How to plan the sales of a new collection in the fashion industry? 

Magdalena Ubik and Lennard Molenkamp explain how the fashion industry deals with the challenge of various store features and customer preferences, and what the "self-fulfilling prophecy" means in the fashion industry.

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From the video, you will learn:

How to manage store diversity

In the fashion industry, differentiating between allocation and replenishment is a challenge as each store has unique attributes and customer preferences.

How to optimise inventory management in the face of sales dynamics

The traditional approach to inventory management often leads to the so-called self-fulfilling prophecy, where low product availability limits the possibility to sell. This is particularly problematic in the case of smaller stores that have the potential to increase profitability but are limited by low product availability.

Why is the use of artificial intelligence in forecasting crucial

Using AI to generate sales forecasts is a solution that can help optimise inventory management. AI is able to analyse historical sales data and identify patterns to better predict product popularity.

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