THE RETAIL BULLETIN - The home of retail news
20 years serving the retail industry
Home Page
News Categories
Christmas Ads
Commentary
Department Stores
Electricals & Technology
Entertainment
Fashion
Food & Drink
General Merchandise
Grocery
Health & Beauty
Home & DIY
Interviews
Property
Retail News
Retail Solutions
Shopping Centres, High Streets & Retail Parks
Sports & Leisure
Retail Events
Retail HR 2022
THE Retail Conference 2022
Retail Women In Leadership 2022
Digital Transformation Strategy 2022 Part 2
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
Inventory precision: vitally important, but too often ignored

4 Steps to Avoid Stock-outs, Empower Retail Associates and Boost Sales Inventory stock-outs drive away guaranteed purchases. At a time when the cost and effort to… View Article

RETAIL SOLUTIONS

Inventory precision: vitally important, but too often ignored

4 Steps to Avoid Stock-outs, Empower Retail Associates and Boost Sales

Inventory stock-outs drive away guaranteed purchases. At a time when the cost and effort to acquire new customers far outweighs the cost and effort to retain current customers, retailers can’t afford to miss out on these easier sales.

The root cause of stock-outs is the inability to achieve inventory accuracy. While it seems like a simple concept to identify the location of all inventory, achieving that goal is increasingly challenging in a complex omnichannel marketplace. In fact, the average retail store’s inventory accuracy is a startling low 65%, according to a recent academic study from Auburn University1 , which sets retailers up to leave significant sales on the empty table — not to mention, dissatisfied customers. Indeed 65% means that retailers are disappointing shoppers as much as 3 to 4 times out of 10. No retailer can afford that much dissatisfaction.

Download the ebook here

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News