The beauty industry faces a silent challenge: poor inventory management. With over 10% of the sector’s total inventory calculated to be excess inventory the magnitude of this issue is undeniable. Recent surveys reveal that beauty and personal care have twice the level of excess inventory of most other sectors. Surprisingly, even as these numbers soar, many brands still struggle with out-of-stock scenarios, further emphasizing the need for efficient inventory planning. A majority of businesses rely on outdated tools like Excel, leading to a lag in responsive action. This workshop dives into the intricacies of inventory management, illustrating the significance of effective planning through real-world examples, underscoring its impact not just on business health but also on the environment. Join us to explore the importance of maintaining a balanced inventory ‘heartbeat’ to ensure the vitality of the beauty industry.
