The holiday shopping season is right around the corner and for many retail owners, this can be a stressful time for many reasons. There are larger crowds, a need for extra staff, the general strain of the holiday hustle and bustle and the guessing game of how much extra inventory you’re going to need in your store to accommodate those crowds. [Read more…]
Phantom Inventory may sound like the latest Ghostbuster or Batman flick, but the truth is this is a real thing that is causing hundreds of retailers to lose profits every day over misplaced merchandise.
Mark G. Garland, Executive VP of Sales, Marketing and Solutions at 4R describes how omni-retail algorithms run parallel with customer demand.
How can retailers compete against Amazon if they can’t compete on price?
Customer experience can easily outperform price. More retailers are focused on localisation – optimising their supply chains to answer customer demand. True customer service moves beyond friendly clerks. It’s offering customers the products they want, when they want them, and where they want them.
Source: Nucleus Research
THE BOTTOM LINE
The Vitamin Shoppe deployed a solution from 4R Systems Inc. to improve replenishment and inventory performance for both its in-store and online business. Nucleus found that 4R’s Store and DC Replenishment Optimized Inventory Service allowed the specialty retailer to take profit margins into account in determining inventory replenishment.
- Increased in-stock availability of store product from 90 to 96 percent
- Upped inventory turns from 30 percent.
- Cut back order rates from 10 to 4 percent
- Achieved payback under the target date of two years
4R, an event sponsor, invites retailers to meet with their team 10-11 March 2015, Olympia London, at Stand 510; 4R CEO Stadler to deliver sponsor speech.
BERWYN, PA, USA, Monday, March 9, 2015 – 4R Systems, Inc., a leading provider of advanced inventory and supply chain services that helps retailers increase profits by optimising their inventory and related supply chain decisions, announced its sponsorship of RBTE, Retail Business Technology Expo. 4R will be sharing its Profit Optimised Inventory solution for fashion and short season multichannel retail inventory. Attendees will learn how the company enables retailers to profit optimise their inventory, accurately matching supply with demand.
4R’s CEO Kevin Stadler, one of RBTE’s featured speakers, will present, “Driving Profit By Reducing Risk Within Your Multichannel Stock Management Strategy.” Retailers responsible for buying and merchandising or supply chain and logistics can hear Stadler in Theatre B on Wednesday, March 11th 2015, 14:30 – 15:00. Stadler brings over 25 years’ experience in retail technology, product strategy, sales and software design.
The article features Mark Garland, 4R’s Vice President Sales & Client Development
Shifting to a unified supply chain provides many benefits for retailers such as increased margins. Download this guide to discover how to enable a single view of purchase orders and a unified end-to-end buying cycle for an integrated, fully networked supply chain ecosystem.