RETAIL: Out of Stock Management
Having out-of-stock items in your store can have a negative impact on revenues. Using manual processes to manage shelf stock means that stock can only be replaced when empty shelves are seen by staff. This low visibility means that stock management of on-shelf items is inaccurate.
Research shows that shoppers are disappointed if the item they want to buy is out-of-stock and will just leave to buy it somewhere else (31%). And a high ration of these shoppers will not return to your store. Significantly impacting store revenues.
Our Out-of-Stock Detection (OSD) solution can detect out-of-stock items automatically and notifies staff what/where needs to be replenished. Improving store revenues and increasing customer satisfaction.
Additionally, by linking to sales data, you can understand the best practice of store layout and planogram. The data collected by OSD gives insight into your marketing activity as well.
The benefits of the Out-of-Stock Detection solution are:
- Prioritisation of Stock Replenishment and Tasks
Our high-quality camera and accuracy AI algorithm detects out-of-stock systematically and automatic notifications can be sent to staff to replenish these items.
- Enhanced visibility of SKU performance
Give more visibility of the on-shelf stock situation to store staff, HQ and merchandisers. By sharing SKU performance in real time,it reduces time spent on reporting to HQ. If you share the information directly with your supplier, it can improve management of their deliveries.
- Planogram optimisation
Use data from OSD to adjust the store planogram to maximise sales
- Centralised data analytics
By installing our OSD in each store, HQ can easily analyse SKU performance and best practice in a centralised location
- Improved customer satisfaction through better product availability