{"id":14435,"date":"2023-02-21T17:14:34","date_gmt":"2023-02-21T11:44:34","guid":{"rendered":"https:\/\/www.vue.ai\/blog\/?p=14435"},"modified":"2024-06-10T11:34:28","modified_gmt":"2024-06-10T06:04:28","slug":"excess-inventory-solution-with-inturn","status":"publish","type":"post","link":"https:\/\/www.vue.ai\/blog\/retail-trends\/excess-inventory-solution-with-inturn\/","title":{"rendered":"(In)Turning Tables with Excess Inventory solution : How INTURN\u2019s helping businesses optimize costs!"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a0928e349023\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a0928e349023\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.vue.ai\/blog\/retail-trends\/excess-inventory-solution-with-inturn\/#how-do-retailers-end-up-with-excess-inventory\" title=\"How do retailers end up with excess inventory?\">How do retailers end up with excess inventory?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.vue.ai\/blog\/retail-trends\/excess-inventory-solution-with-inturn\/#the-excess-inventory-solution-%e2%80%93-inturn\" title=\"The Excess Inventory Solution &#8211; INTURN\">The Excess Inventory Solution &#8211; INTURN<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.vue.ai\/blog\/retail-trends\/excess-inventory-solution-with-inturn\/#how-does-inturn-change-the-game\" title=\"How does INTURN change the game?\">How does INTURN change the game?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.vue.ai\/blog\/retail-trends\/excess-inventory-solution-with-inturn\/#find-the-root-of-the-problem\" title=\"Find the root of the problem.\">Find the root of the problem.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.vue.ai\/blog\/retail-trends\/excess-inventory-solution-with-inturn\/#real-time-visibility-and-insights\" title=\"Real-time Visibility and Insights\">Real-time Visibility and Insights<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.vue.ai\/blog\/retail-trends\/excess-inventory-solution-with-inturn\/#whats-next-for-inturn\" title=\"What\u2019s next for INTURN?\">What\u2019s next for INTURN?<\/a><\/li><\/ul><\/nav><\/div>\n<span class=\"rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\">3<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span>\n<p><strong><em>Excess inventory<\/em><\/strong> levels have been rising among retail brands worldwide in the last couple of years. There has been a barrage of recent events, from inflation, and increasing economic uncertainty in the United States, to the ongoing conflict in Ukraine, all impacting retailers.<\/p>\n\n\n\n<p class=\"has-text-align-center\"><em>Excess inventory can sit up to 180 days in warehouses, losing more than $250 billion as revenue opportunities across consumer categories.<\/em><\/p>\n\n\n\n<p>With today\u2019s businesses still working with Excel sheets and manual tracking of excess inventory, we sat down with a game-changer in the industry \u2013 INTURN!&nbsp;<\/p>\n\n\n\n<p>We hosted <strong>Ronen Lazar, the founder of INTURN,<\/strong> in The Retail Podcast by Vue.ai. Based in New York, INTURN is a <strong>pioneer and leader in slow-moving and excess inventory management.&nbsp;<\/strong><\/p>\n\n\n\n<p>The conversation was packed with powerful insights about how retailers can reduce operating costs around excess inventory and maximize recovery today! You can listen to the <a href=\"https:\/\/www.vue.ai\/resources\/podcasts\/tackling-retails-inventory-problem-inturn\/\">full conversation here.<\/a><\/p>\n\n\n\n<blockquote class=\"wp-block-quote\"><p>In case you missed it:&nbsp;<strong><a href=\"https:\/\/www.vue.ai\/blog\/press\/inventory-management-market-leader-inturn-joins-the-mad-street-den-family\/\">INTURN joined the Mad Street Den family<\/a> in November 2022.&nbsp;<\/strong><\/p><\/blockquote>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"512\" src=\"https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2023\/02\/Shutterstock_1930996376-2-1024x512.png\" alt=\"excess inventory management\" class=\"wp-image-14445\" srcset=\"https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2023\/02\/Shutterstock_1930996376-2-1024x512.png 1024w, https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2023\/02\/Shutterstock_1930996376-2-300x150.png 300w, https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2023\/02\/Shutterstock_1930996376-2-768x384.png 768w, https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2023\/02\/Shutterstock_1930996376-2-1536x768.png 1536w, https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2023\/02\/Shutterstock_1930996376-2-2048x1024.png 2048w, https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2023\/02\/Shutterstock_1930996376-2-150x75.png 150w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"how-do-retailers-end-up-with-excess-inventory\"><\/span>How do retailers end up with excess inventory?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong>Excess inventory<\/strong> exists across every category, whether consumer or not. It could be raw materials, partially processed goods, or even finished goods.<strong> <\/strong>There are a plethora of reasons why inventory might remain unsold. Planners within every single business do their best to forecast the demand that might exist in the market.&nbsp;<\/p>\n\n\n\n<p><br>Excess inventory is often<strong> classified as slow-moving<\/strong>, meaning it has plenty of lifespans. However, in its longevity, <strong>it ties up working capital and capacity<\/strong>. These consequences must be resolved to free up cash and capacity for the incoming inventory. Alternatively, inventory is truly excess whether one is nearing an end-of-season sale or CPGs with a hard expiration date. In this case, retailers who would typically consume this inventory will not be inclined to buy it.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"the-excess-inventory-solution-%e2%80%93-inturn\"><\/span><strong>The Excess Inventory Solution &#8211; INTURN<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Excess inventory is often addressed as an afterthought, and as a result, many retail brands are leaving money on the table. Excess inventory management has always been managed by manual teams tracking inventory status in excel sheets. <\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2023\/02\/Shutterstock_1950284617-2-1-1024x576.jpg\" alt=\"excess inventory solution\" class=\"wp-image-14442\" srcset=\"https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2023\/02\/Shutterstock_1950284617-2-1-1024x576.jpg 1024w, https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2023\/02\/Shutterstock_1950284617-2-1-300x169.jpg 300w, https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2023\/02\/Shutterstock_1950284617-2-1-768x432.jpg 768w, https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2023\/02\/Shutterstock_1950284617-2-1-1536x864.jpg 1536w, https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2023\/02\/Shutterstock_1950284617-2-1-2048x1152.jpg 2048w, https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2023\/02\/Shutterstock_1950284617-2-1-150x84.jpg 150w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<blockquote class=\"wp-block-quote\"><p><strong>INTURN does not replace an existing system but effectively reduces the manual effort required!<\/strong><\/p><\/blockquote>\n\n\n\n<p>At the core of INTURN exists the <strong>real-time nature of inventory availability.<\/strong> It aggregates all relevant data on slow-moving or obsolete inventory in one spot to give visibility to the teams.&nbsp;<\/p>\n\n\n\n<p><br>INTURN has been <strong>focused on consumer categories<\/strong>, from fashion and apparel to food and beverage, health and beauty, personal care, electronics, and home.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"how-does-inturn-change-the-game\"><\/span><strong>How does INTURN change the game?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Companies usually write off excess inventory as a business expense. Alternatively, businesses can optimze of losing money, it is better to easily optimize the process of managing excess inventory,&nbsp; saving time and recovering costs.&nbsp;<\/p>\n\n\n\n<p>However, managing this alone fails to address HOW and WHY excess inventory exists in the first place.&nbsp;<\/p>\n\n\n\n<blockquote class=\"wp-block-quote\"><p><strong>Instead of letting inventory build up, INTURN helps retailers get ahead of it and solve the problem!<\/strong>&nbsp;<\/p><\/blockquote>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"find-the-root-of-the-problem\"><\/span><strong>Find the root of the problem.<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>There are a number of reasons that could influence whether or not the companies hit their targets or not. And that&#8217;s what translates into slow-moving and excess inventory. <strong><em>INTURN enables these businesses to understand in <\/em><\/strong><strong><em>a far more predictable manner <\/em><\/strong><strong><em>what is likely to become excess<\/em><\/strong>. This would help these companies identify the cause and translate these goods into the interim pipeline.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"real-time-visibility-and-insights\"><\/span><strong>Real-time Visibility and Insights<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>INTURN looks at a layer of workflow tools that allow companies and the people who work in it to avoid busy work. It ensures retailers can journey through an end-to-end process quicker &#8211; building assortments, allocating goods into different markets, pricing the goods, analyzing margins, and sending out relevant offers to their shoppers.&nbsp;<\/p>\n\n\n\n<p><em>With consumer demand slumping throughout 2022, retailers\u2019 inventory levels have risen along with declining profitability.<\/em><\/p>\n\n\n\n<blockquote class=\"wp-block-quote\"><p><strong>Inventory discipline will be critical this year as brands struggle to manage shortages and excess inventory.<\/strong><\/p><\/blockquote>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"whats-next-for-inturn\"><\/span><strong>What\u2019s next for INTURN?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Now a part of the <a href=\"https:\/\/www.madstreetden.com\/\">Mad Street Den<\/a> family, INTURN delivers on the promise that excess inventory can be handled more intelligently and efficiently.&nbsp;<\/p>\n\n\n\n<p>Combining Inturn\u2019s inventory workflow tools and margin optimization capabilities with Vue.ai\u2019s retail AI suite, customers now get the power to effectively use AI to optimize supply chain processes and planning and weave it into customer experiences to create efficiencies across the entire retail value chain.&nbsp;<\/p>\n\n\n\n<p>You can listen to the full conversation with Ronen Lazar on <a href=\"https:\/\/www.vue.ai\/resources\/podcasts\/tackling-retails-inventory-problem-inturn\/\">The Retail Podcast<\/a> by Vue.ai.&nbsp;<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Check More About <strong><a href=\"https:\/\/www.vue.ai\/solutions\/excess-inventory-management\/\">Excess Inventory Management<\/a><\/strong><\/h4>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\">3<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span> Excess inventory is often dealt with as an afterthought. INTURN shows how excess inventory management can be approached to optimize costs!<\/p>\n","protected":false},"author":23,"featured_media":14448,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4,1523,1160,1161,1522,143],"tags":[1470],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Excess inventory Solution : How Inturn&#039;s helping businesses optimize costs<\/title>\n<meta name=\"description\" content=\"Excess inventory is often dealt with as an afterthought. INTURN shows how excess inventory solution can be approached to optimize costs!\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.vue.ai\/blog\/retail-trends\/excess-inventory-solution-with-inturn\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Excess inventory Solution : How Inturn&#039;s helping businesses optimize costs\" \/>\n<meta property=\"og:description\" content=\"Excess inventory is often dealt with as an afterthought. 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