The Empty Shelf Problem – always have the right stock at the right time
For a retailer, empty shelves are bad news – retailers and manufacturers lose the equivalent of 4% and 2.3% of annual sales, respectively, due to poor inventory management1 – not only losing money but not able to hit rebate levels either.
RFID leaders Nedap Retail also estimate that stock accuracy of retailers only hovers around 60-70%, limiting sales potential and business growth.2
In a supply chain, availability can make or break a business. Agri-businesses simply don’t have visibility at the necessary level; most businesses settle on what is essentially a glorified post box for their data.
The answer? Take control of inventory movements and own every aspect of your business, know what you’ve got to sell and where it’s located in the first place. A recognised central pipe of validated and enriched data gives a 360° overview of your business – eliminating risks and keeping shelves stocked.
Imagine knowing how every facet of your business is performing. Imagine knowing what your customers are doing and what they need in real-time, whether you’re a retailer or manufacturer. What would that look like? Read the free full report to learn more.
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1Gruen, T.W. & Corsten, D.S. (2007), “A comprehensive guide to retail out-of-stock reduction in the fast-moving consumer goods industry,” Grocery Manufacturers of America, Washington, DC.
2https://www.nedap-retail.com/resources/blog/total-stock-visibility-agile-order-fulfillment-omnichannel/
Read more in the 360° visibility series: