Survey shows that 66% of the retail executives understand inventory inconsistencies disturb online shopping
With the growth of omnichannel stores in the retail market worldwide, it is important to know that the online experience will only be remarkable to the consumer when managing the inventory in a smart way. According to the HRC Retail Advisory, 66% of retail executives who answered to the institute’s survey believe that stock inconsistencies directly disturb the online shopping.
In other words, without having the correct visibility on the availability of the products in the stores, the whole omnichannel experience is ruined if an item is not available in the store to be collected. For that reason, it is becoming more and more important to invest in order management systems integrated with inventory so that the manager can learn the limitations of each store in real time.
In addition to data on the inventory availability, the system may suggest different ways of using the stock available in the most beneficial way for both customer and supermarket. According to the Manhattan Associate’s Omnichannel Fulfillment ROI Calculator, optimizing orders online with smart systems improve the orders and even reduce the retailer’s costs in up to 25%.
Using advanced learning algorithms, in line with inventory availability, restrictions and conditions in real time, it contributes with the continuous inventory optimization. One of the most used tools in the global retail is the Manhattan Order Management, which uses optimization of smart service to assess in real time many parameters on inventory, transportation, stores and customers.