Advice from PLG: Key mistakes brands are making in inventory management

As the summer season comes to a close and further lockdowns loom, UK-based Parker Lane Group advises brands to look into re-evaluating their inventory management practices. The current pandemic has radically torn the fabrics of the retail market: Pre-pandemic business models no longer apply, and brands must quickly adapt to new norms in order to survive. Retailers need solutions that convert material into revenue immediately. Both fast fashion and haute couture scrambled for consumer demand as cash flows dried up. Yet, they are doing so at perilous long-term costs.