Just because we sell intangible goods or ‘time’ and space, media is not that different from other industries. More importantly, many of the challenges we are facing in today’s media enterprises, and the resulting competencies we must develop, take a page out of other industry handbooks.
Inventory management is one. Inventory management or yield management is something that is getting a lot of momentum as new media is becoming a larger portion of total revenue, and old media is being blown up by addressable advertising. This is because there are more ad formats and platforms, the combination of which equal a new product, making oversight very difficult.
In developing software to help media companies manage their inventory and optimize yield, Ashley looks a lot to the best practices learned of when running pricing strategy at the world’s largest component manufacturer in the world, who manufactured over 100,000 products. There are some steadfast best practices your teams can implement to remain adaptable in this omni-channel world which we live today, which is the topic of this segment.