There are three words no shopper wants to hear: “Out of stock.” For retailers, it likely means a missed sale, so no one’s happy.

That’s why inventory management is such a key component of running any retail business.

Retail inventory management is complicated; there’s not a one-size-fits-all solution. But being able to meet consumer demand while simultaneously not leaving too much merchandise on the shelf pays off in the long term.

What does inventory management entail?

Broadly, inventory management involves retailers ensuring they have enough supply to meet consumer demand and are able to deliver products on time, whether in store or online. It’s also vital for retailers to know exactly when they receive items from their suppliers, when to reorder, and how to accurately track products.

Streamlined inventory management that’s organized and well connected wherever a product is stored and sold can boost sales, deliver a better customer experience, and keep budgets and margins in check. It’s about balancing how much retailers have invested in products versus how quickly customers are buying those products, Jonah Ellin, chief product officer at 1010data, told Retail Brew.

Poor inventory management can lead to low or no stock, which in turn can snowball into consumer disloyalty and, ultimately, declining sales.

• Misjudged inventory decisions like overbuying, buying the wrong products or misallocating inventory account for an estimated 53% of unplanned markdown costs for retailers, according to a 2019 Coresight Research survey, the latest data available.

Keep reading here.—KM

Remember when Dunkin’ was “Dunkin’ Donuts”? Even with a new identity, coffee lovers can still spot the beloved establishment from a mile away. From football teams to pancake mixes, a lot of household names have opted for new monikers over the past few years.

Whether branding has been tweaked or scrapped completely, learn why top companies have decided to change outdated or offensive logos and names. Also, find out how big names maintain brand recognition through visual design cues and placing value on a strong customer relationship. Read the story from Marketing Brew.

As we continue to wonder who will take over the Bloomingdale’s CEO role, which has been vacant since last month, we’re breaking down the most noteworthy retail exec moves in April.

• Walmart’s US chief merchandising officer, Charles Redfield, is leaving his role after 32 years with the retailer. Redfield began as a Sam’s Club cashier before climbing the ranks to eventually be named chief merchandising officer last year.
• Foxtrot promoted its president and CFO Liz Williams to the CEO spot, taking over from co-founder Mike LaVitola, who has moved to chairman of the board. Williams, a former Taco Bell CFO, joined Foxtrot in June 2022.
• Morphe parent company Forma Brands named former Outdoor Voices interim CEO Cliff Moskowitz as its new CEO. The brand emerged from bankruptcy this month, acquired by lenders, including &vest, where Moskowitz is an operating partner.
• The Body Shop CEO David Boynton is stepping down after leading the company since Natura & Co bought the brand from L’Oréal in 2017. He’ll be replaced by Natura & Co’s board director Ian Bickley in the interim.
• Umar Kamani, co-founder of fast-fashion brand PrettyLittleThing, exited his CEO role, writing on Instagram that he aims to “set myself new challenges and goals and build new brands.”
• Activewear brand Vuori added several new members to its C-suite, including former Yeti exec Hugh Garrity as COO and Billabong and Vans vet Libby Stockstill as general counsel.
• John Galantic will leave his role of president and COO of Chanel Inc., which he’s held since 2006, on June 30.
• Canada Goose made a number of C-suite changes, including naming former Reebook chief digital officer and CMO Matt Blonder as its first-ever chief digital officer.

Keep reading here.—EC

“Roku is once again teaming up with a retailer. The connected TV platform is striking a measurement pact with grocery delivery platform Instacart to measure the effectiveness streaming ads have on purchases,” writers Marketing Brew’s Kelsey Sutton:

The partnership with Instacart…is the latest in a series of pacts Roku has struck with retailers. The connected TV company has previously struck up arrangements with Kroger, DoorDash, and Walmart to tie advertising to purchases.

Read the whole story here on Marketing Brew.

Today’s top retail reads.

Forget a-bot it: With varying limits on speed and weight, laws about sidewalk delivery robots vary among the states that have them, at least 23 so far. “It is going to be a nightmare to get all the states on the same page—there is massive variation,” said Ottonomy CEO and co-founder Ritukar Vijay. (Supply Chain Dive)

Going beyond: A firsthand account of the closeout sale at Bed Bath & Beyond’s Chelsea location in New York City, which first opened in 1992. Customers there have been “losing their minds,” said one store employee. (Curbed)

The whole package: Packaging executives from beauty brands like e.l.f., Estée Lauder, and Natura share insight into their sustainability packaging initiatives. (Beauty Packaging)

Three of the stories below are real...and one is most definitely not. Can you spot the fake?

1. Taco Bell will make “surprise drone deliveries” for free to select yet random apartments across the Bay Area.
2. Tito’s has partnered with a pet foundation to launch a capsule collection that allows you to enjoy drinks while on the go with your dog.
3. Burger King is treating consumers in the UK to free Californian BBQ King burgers, via a code redeemed through its app.
4. Banksy might secretly own a historic, 17th-century pub in England.

Keep reading for the answer.

Catch up on the Retail Brew stories you may have missed.

• How air fryers got so hot
• Resy founder Ben Leventhal bets on blockchain-based loyalty
• Resale is paying close attention to emerging technologies