New Delhi

In the fast-paced smartphone market, efficient inventory management is paramount to a company’s success and realme, a prominent player in the smartphone industry, has managed to enhance its inventory situation through a series of well-thought-out strategies in the first half of 2023. According to realme, it has transformed its inventory management by implementing a comprehensive approach that encompasses various phases of a product’s life cycle, fostering collaboration with retailers, and ensuring optimal product sales and supply management. The company said its inventory management strategy begins with a meticulous life cycle plan that is divided into three key phases: Hot Sales Period, Sustenance, and End of Life. Each phase is managed with a different focus to ensure efficient inventory handling. In the ‘Hot Sales Period’ phase, realme capitalizes on the initial excitement surrounding a new product launch. Adequate inventory is allocated based on market demand predictions and historical data. Collaborating closely with its channel partners, realme gauges the pulse of the market, obtaining valuable insights that drive inventory planning. After the initial excitement subsides, for the sustenance realme maintains a steady supply of products to meet sustained demand. Timely adjustments to inventory levels are made based on market feedback and sales trends. This phase involves optimizing the balance between maintaining inventory and preventing overstocking. As a product nears the end of its life cycle, realme ensures a controlled reduction in inventory. This is achieved by aligning with retailers to execute targeted promotional campaigns and clearing out remaining stock. This phase reduces excess inventory, minimizing losses due to obsolescence. realme’s commitment to inventory management is evident through its strategy of providing ongoing support to products even after their launch.