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Channel Optimization
The process of improving the performance and alignment of sales channels to maximize revenue and customer satisfaction.
Implications
The continuous improvement of sales and distribution channels to maximize efficiency, profitability, and customer satisfaction, often involving process improvements, technology adoption, and performance management.
Example
Example: A retail chain engages in channel optimization by implementing automated inventory management systems and refining its logistics processes, reducing stockouts and improving delivery times.
Related Terms
Different from channel innovation, which introduces new approaches, optimization focuses on making existing channels as effective and efficient as possible.
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