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” Step 2: Do benchmarking. Here you “benchmark the key revenue and cost metrics in your business against the market and against firms offering the most-comparable products.” One of the growth vectors they identified was moving into the production of high-end apparel that would be sold in department stores.
In the apparel industry, the benchmark for inventory accuracy is somewhere between 60% and 70%. The expected benefits included improved working capital, an uplift in sales, reduced buying volumes, and a reduction in the backroom inventory at each store. Consider an IT investment that one European retailer was pondering.
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