What is retail inventory management?
The largest catch-all phrase for business-to-consumer (B2C) selling is retail. There are two forms of retail, which are distinguished by how and where sales are made.
First, there’s online retail (eCommerce), which involves making a digital purchase.
Second, offline shopping involves making a tangible purchase from a storefront or a salesperson.
Business-to-business (B2B) selling, on the other hand, is referred to as wholesale. It’s crucial to understand the differences between retail and wholesale, as well as the best practices for each.
Most businesses keep merchandise in numerous locations and across multiple channels. The variety of retail inventory management adds to its complexity while also emphasizing its significance to your business.