ECONOMICS

Detailed explanation-1: -Multi-channel inventory management (also known as multi-source inventory) is the process by which businesses account for and track orders from various sales sources on inventory that is stored at multiple locations, such as marketplaces, ecommerce, retail, and wholesale.

Detailed explanation-2: -Multichannel retail is the distribution of products in multiple channels: for example, selling goods on a website as well as in a physical store. Omnichannel retail, however, takes it further by considering the needs of customers and reaching them where they are, through all available channels.

Detailed explanation-3: -What is multichannel inventory management? A multichannel inventory management system tracks, manages, and fulfills orders from multiple channels and stores using a single, centralized system. With this system, businesses can access inventory data in real time, coordinate promotions, and streamline order fulfillment.

Detailed explanation-4: -Multichannel Retailing is the process of using multiple channels for selling similar products across different platforms. The platforms may be online and offline and the various channels may be brick and mortar store, online store, mobile store, mobile app store, etc.

Detailed explanation-5: -Omnichannel retail is a strategy in which retailers engage customers through multiple digital and physical touchpoints. As customers move across these channels, applications and data move with them. This creates a consistent, on-brand experience from start to finish.