Obtaining real-time, accurate inventory at the store/shelf level is a goal and a struggle for most retailers. Grocers, especially, are met with unique challenges that present additional complexities. Managing perishables, assortments comprised of random weights, sizes and categories like meat, bakery and deli, along with manufacturer deals, discounts, rebates, coupled with high turns and low margins make perpetual inventory accuracy hard to achieve.
In addition to product category challenges, grocers are faced with such business issues as:
These challenges and issues aggravated by poor data quality, technology costs, staffing costs and labor turn-over/training needs and seasonality of goods by location.
With modern solutions, however, grocers can build more connected platforms that utilize centralized data, visual management and artificial intelligence that combine space, assortment, stores, planograms, price/promotional activity, overall sales, consumer trends and supply chain inputs. Aligning these touches have proven to deliver 95% inventory accuracy levels; resulting in additional benefits such as:
Overall, experts agree that the three main steps toward perpetual data accuracy are:
Working alongside of experienced professionals who are industry practitioners can greatly reduce the risk of making the wrong decisions/technology selections and prioritize/maximize investments. FIND OUT MORE ABOUT PERPETUAL INVENTORY ACCURACY, CONTACT: www.columbusconsulting.com/contact-us/
Grocery and Convenience Store Retail
Find out more about our grocery specialty and team of category experts. Whether you are looking for digital transformation, pricing and profit strategies, merchandising assistance or systems selections and integration, we have experienced professionals who can help.
Connect with one of our experts