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‘Sense and respond’ is fast catching with marketing organizations across the mother planet. This model (sense and respond) stands for understanding your customers better and responding in a timely fashion. This supply and chain model can help reduce inventory cycles and build a reputation for keeping the ‘in’ things.
It actually boils down to this – you must follow the perpetual process of collecting data from your consumers, analyze it and change your product mix accordingly. This should be done in as little time as possible.
Experts in the industry have this to say – if you are unable to rotate your inventory in a reasonable time, you not only lose the interest, but on other avenues like brand building, customer interest in your shop, and right prices for your products (you don’t need a discount to be offered to your customers).
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