In order to maximise availability, many businesses leave themselves exposed to high costs through shrinkage. However, as a retailer operating in the food industry, it is essential to find the balance between customer satisfactions and cost control. With Slim4, food retailers can seamlessly connect their inventory management decisions with the overall business strategy.
How can you ensure customers can buy all the products they want in your stores while guaranteeing that these items will be fresh? In the food industry, accurate forecasting is the key to success. Slim4 forecasts demand on a daily basis for each item and location. The software can automatically identify seasonal patterns and trends on both a national and local level. Through fully integrating promotions into the inventory management process, Slim4 continuously calculates the optimal inventory level. This in turn allows food retailers to ensure that they not only have sufficient inventory levels to meet the expected demand but also achieve the desired service level.
Customers measure your success by the freshness of the products you sell. Maximising on-shelf availability has a direct impact on sales and perhaps more importantly: customer loyalty. Furthermore, through ensuring that items with short product shelf lives are rotated accordingly, food retailers can minimise waste. Slim4 uses the expiration date of individual items as well as expected demand in to order to maximise both product shelf life as well as to ensure inventory levels are optimised.
When it comes to ordering stock, how can you determine if it is better to order individual packages, pallet layers or even full pallets? Through utilising the EOQ formula, you can minimise logistics costs while taking full advantage of price breaks. With Slim4, your daily orders are adapted to the current demand patterns, drastically reducing the risk of overstock and almost completely avoiding out or stocks. This in turns prevents firefighting. Through optimising orders and delivery schedules, retailers can automatically fill trucks and thus, reduce pressure on your inbound logistics team.
Flexibility through promotions and events
With help from Slim4, you will not only be better prepared for promotions but also for seasonal events such as Easter and Christmas. Our inventory optimisation tool automatically calculates the sales uplift during such periods. Through using a specific forecast as a basis, retailers can ensure that stock is available in a timely manner.