Advanced inventory management in the Retail industry

Advanced inventory management for the retail industry needs retail inventory software of high quality. Because this industry is acting in an exciting but dynamic and complex environment: the number of product introductions is increasing, the promotional pressure is high, and turnover is fragmented across multiple locations and channels. Because of the big distances between Australian cities, retailers have often multiple warehouses and or stores. Putting the same articles and the same amount of stock at each location can, however, cost you revenue. Primarily because buying patterns in Cairns and Sydney can be completely different because of a difference in climate and demographical characteristics. But also within the same city, each suburb can show different buying patterns as income, age and lifestyle have a big effect on how people spend their money. To increase revenue, it is important that the right products are stocked at the right place in the right quantities. This means that retail logistics is not easy and in particular inventory management is a big struggle for many retail companies.

Retail specialists help with inventory management

The retail industry cannot be compared with a wholesale or manufacturing environment. Therefore we have Slimstock retail specialists who are particularly focused on solving inventory management challenges at retailers. We are especially active in the Food, Fashion, Non-Food, and e-commerce industry. The combination of our years of experience in the retail logistics together with our retail inventory management software Slim4 ensures that we can help any retail company.

Proven results in the retail industry

With our retail inventory management solution we have proven the following results at our customers:

  • Up to 50% reduction of out of stocks
  • 2-7% more turnover, resulting from improved availability
  • 10-30% inventory reduction

How do we help retail with inventory management

Our retail inventory management software Slim4 automatically generates a forecast and the right inventory level per article and location (DC, store, and webshop) daily. During the forecasting process, the software takes the type of demand pattern, seasons, trends, customer forecasts and promotions into account. When calculating the right stock, it always looks at the whimsicality of demand, the requested service level, and the product life cycle phase. To get a complete picture of how we can help your company with its retail logistics, have a look at our movie.

Fashion

Reduce the costs of sales and avoid costly reallocations.

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Food

Maintain high levels of availability and minimise excess and waste.

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Ecommerce

Invest capital as efficiently as possible with Slim4.

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Non-Food

Maximise turnover with minimal capital investment

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Balanced inventory throughout your retail supply chain

A retail environment is characterised by many locations and sales channels. This is particularly relevant within an omnichannel environment where turnover is fragmented; in this instance, it is very important to plan the inventory centrally. Slim4 continuously looks at the whole chain; based on the expected sales opportunity combined with the margin that has to be realised, it can determine where to best place a product. Especially important at the end of the life cycle, but also in case of scarcity of products this results in optimal efficiency. Helping to improve your retail logistics.

Retail industry specialists in inventory management

Slim4 helps you to improve your inventory management. It is standard software, which can be maximally configured and parameterised so it exactly fits the requested retail processes. To penetrate (and challenge) these processes, extensive retail experience is an important key to success. In 2010 Slimstock Retail was chosen as the winner of the ING Retail Year Award in the category 'Best Retail Excellence Idea' because of our extensive supply chain and retail logistics knowledge. In case you are interested, have a look at our blog Retail: How to survive the evolving market

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