Plenty of retailers and supply chains are suffering from stockouts. From cleaning products, to kettlebells, to appliances, to meat, retailers, manufacturers and suppliers are coming up short when it comes to supply.
"A lot of the time, demand planning relies on historical measures for accuracy," said Carlos Castelán, founder and managing director of The Navio Group.
Historical measures haven't proven as helpful during the pandemic, because demand has not followed typical patterns — but the measures aren’t necessarily worthless. After all, consumers will still buy holiday wrapping paper this year. But what exactly will demand be if unemployment remains high, or consumers are mailing gifts rather than giving them in person, or the holiday spirit is just overall tamped down?
Historical data won’t work alone. Experts offered tips for what can help to fight stockouts in times of unpredictable demand.