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Why the Pandemic Bested Retail Inventory Capacity

Why the Pandemic Bested Retail Inventory

As we all know, the pandemic put a major strain on retailers’ inventory capacities and led to a series of shortages that have plagued the industry for the past two years. But, how was an industry that is so often on the cutting edge of technology and business strategy crippled by one of its most basic tenets: getting products to customers?

According to Nikki Baird, Vice President of Strategy at Apos, the typical retailer only keeps roughly 30 percent of its inventory reserved for eCommerce. In an interview with Forbes, Baird went on to say that, “for nonessential retailers that didn’t have omnichannel systems and processes in place, when their stores were temporarily closed and e-commerce volumes skyrocketed, all they had available to sell was the limited inventory sitting in their e-commerce warehouses. Once that stock ran out, if they didn’t have the ability to tap into their store inventory, they were left with virtually nothing to sell.”

In other news, Ring, a home security solutions provider, has announced that it will be deploying cameras that support the ONVIF standard, which allows cameras from different manufacturers to communicate with each other. The integration is set to be available in late April to customers with the Ring Alarm Pro or a Ring Protect Pro plan. With the ONVIF integrations, customers can link to an already existing ecosystem of ONVIF standard cameras. Customers can also view live camera feeds in the Ring app and receive real-time motion-triggered notifications directly to their smartphones.

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