SIMOS Insourcing Solutions’ Post

Good article on the importance of accurate data both to customer experience and to growing sales. "Retailers have a massive amount of stock and data to track it from warehouses to stores. With all that inventory moving around, it needs to be updated as close as possible to real-time, to know what’s actually in stock and where it is. Retailers with modern inventory-control and order-management systems can use a data-driven approach to update their inventory at unprecedented levels of speed and accuracy. They are significantly reducing the chances of accidental over- or underselling of products." #dataquality #forecasting #inventory

Fantastic article by Nicola Kinsella which highlights the inventory accuracy dilemma that I know Australian retailers are facing. According to a recent survey of 1,003 retailers and direct-to-consumer brands, 58% reported having less than 80% inventory accuracy. That means every time a consumer orders a product, there’s a 20% chance the product they want isn’t even available. Retailers have a massive amount of stock and data to track it from warehouses to stores. With all that inventory moving around, it needs to be updated as close as possible to real-time, to know what’s actually in stock and where it is. Retailers with modern inventory-control and order-management systems can use a data-driven approach to update their inventory at unprecedented levels of speed and accuracy. They are significantly reducing the chances of accidental over- or underselling of products. A data-driven approach can mean synchronizing sales channels with the latest inventory levels. These systems enable retailers to quickly spot trends and manage their stock accordingly. During high-demand periods such as back-to-school or holiday periods, this method becomes even more beneficial. Retailers are better able to align their aggressive marketing campaigns with fluctuating inventory. Connect with me to help you move to real time inventory capture and 98%+ inventory accuracy via RFID. #onlyrfid #futureofretail #runtothedata #amazingthingswithrfid

Did you know retailers lose nearly $1Trillion yearly due to out-of-stock items? Get ahead of the curve! it's time for retailers to embrace real-time inventory management and data-driven solutions. #RetailTech #InventoryManagement #intelligententerprise #automation https://bit.ly/4aVfXz1

Warehouses have been experiencing more challenges recently because of increasing customer expectations, inflation and tightening budgets. Small and medium-sized warehouses have suffered the most. The stakes are high for smaller operations because every customer and order has a significant impact on the business.  #warehouse #warehousemanagement #supplychain #supplychainmanagement #innovation

Warehouses have been experiencing more challenges recently because of increasing customer expectations, inflation, and tightening budgets. Small and medium-sized warehouses have suffered the most. The stakes are high for smaller operations because every customer and order has a significant impact on the business.  Small and medium-sized warehouses are embracing modernization, in an effort to boost productivity and lay the foundation for scalability while mitigating the impact of challenges. Though modernization seems daunting, there are simple and cost-effective steps that businesses can take.  #warehouse #warehousemanagement #productivity #scalability #supplychain #supplychainmanagement #innovation

“Imagine that you’re scrolling through the social media platform of your choice, see something you love, and click on it — only to learn that it’s out of stock. A study by the IHL Group found that retailers miss out on nearly $1 trillion in sales per year because of out-of-stock items.” $1 trillion. Disconnects like this example can be avoided when retailers have a system for unified commerce–like how Dropit sits on top of retailers’ existing tech stack to see across all channels. Enabling better decisions. Optimizing inventory. Avoiding stockouts. Learn more about what Dropit can do at https://www.dropit.shop/ https://lnkd.in/gYFd_2BC

The Trillion-Dollar Problem for Retailers: Not Having Clean Data #RetailData #inventory #accuracy #stock #staff #training #DataQuality #CleanData #RetailChallenges #DataManagement #RetailSolutions #DataIntegrity #RetailTech #BigDataIssues #DataAccuracy #RetailProblems #DataOptimization #DataDrivenRetail #RetailAnalytics #DataCleaning

Build Vs Buy - Online Services Marketplace As per the below attached graphic, buying a readymade solution is more cost effective. For more detailed analysis, explore the following post (https://lnkd.in/dUF9Sz4A). #startownbusiness #serviceprofessionalmarketplace #servicesmarketplace #servicesolutions #servicessoftware