Cegid, the provider of retail point of sale software and talent management solutions, has released a new e-book on inventory precision in retail. The literature provides four steps to avoid stock-outs, empower retail associates and boost sales.
According to the e-book, stock-outs drive away guaranteed purchases. The main cause of this is the lack of inventory accuracy, especially due to complex challenges associated the omnichannel marketplace.
Retailers that can improve their inventory accuracy can create a significant competitive advantage. The e-book’s four steps to achieving this are:
1. Unify: invest in a fully integrated IT environment across channels to deliver unified commerce
2. Identify: make real-time inventories more visible across channels
3. Replenish: use a flexible inventory management solution that takes considers many factors to create one replenishment orders that optimises product availability
4. Mobilise: make mobile technology work for your sales associates, not the other way around
Read the full eBook.