Food Retail: effective inventory management

Customers measure your success by the freshness of the products you sell. However, maintaining high levels of availability while simultaneously eliminating waste is a constant battle for businesses across the food industry. Given that customer demand only the freshest produce and expect a huge amount of choice, it’s vital that businesses find the balance between customer satisfactions and cost control.
With the advanced forecasting and daily planning capabilities of Slim4, you can achieve the on-shelf availability that customers expect while simultaneously minimizing excess and waste.

Results

  • 50% reduction in avoidable fresh waste
  • On-shelf availability improvement up to 99.9%
  • 15-20% reduction in inventory costs

Responsive inventory management

With the inventory management solution, Slim4, the focus is on reducing excess stock & therefore waste across the business. Through improving forecast accuracy and establishing a dynamic buffer stock based on anticipated daily demand, supply chain teams can determine exactly when to place an order & how much to order.

Maximizing on-shelf availability through daily planning

Maximizing on-shelf availability has a direct impact on sales and perhaps more importantly: customer loyalty. However, holding excessive levels of stock can quickly result in waste, especially for items with short product shelf lives. Slim4 helps businesses anticipate demand on a day to day basis with greater accuracy, taking into account the expiration date of individual items as well as fluctuations in demand.

Optimized replenishment

Through considering local demand fluctuations, seasonality and emerging trends, Slim4, optimizes inventory at both DC and branch level. Slim4 calculates the optimal order level at both an article and branch level on a daily basis ensuring businesses achieve the desired service level for each item as fulfilling any requirement for presentation stock. Thus, businesses can reduce the number of out-of-stocks by up to 50%.

Minimized Inventory costs

Through utilizing the EOQ capability within Slim4, food businesses can minimize logistics costs while taking full advantage of price breaks. With Slim4, daily orders are adapted to the current demand patterns, drastically reducing the risk of overstock and almost completely avoiding out or stocks. Through optimizing orders and delivery schedules, businesses can automatically fill trucks to capacity and thus, reduce both firefighting and pressure on the inbound logistics team.

Flexible promotions & events management

Our inventory optimization tool automatically calculates the sales uplift during such periods in order to better in order to better prepare your operation for promotions and seasonal events such as Easter and Christmas. Through using a specific forecast as a basis, retailers can ensure that the right level of stock is available in a timely manner to cover demand and minimize excess at the end of an event or promotion.


“With help from Slim4, we’ve decreased our inventory from $42 million to $36 million.”

Corporate Manager of Supply Chain Operations

Solutions to help your business thrive and grow

Slimstock offer many solutions that can help your business today.

Resources

Published in News - 04 March 2019

Inventory management roundtable throws up new ideas and strategies

Last week Slimstock hosted its inaugural inventory management roundtable in Canada at The Hilton Hotel, Burlington. Meant as a platform for networking of like-minded professionals and sharing of strategies around the science of inventory management, the event was insightful and intimate, attended by practitioners, decision makers and business owners. Chaired and moderated by Slimstock, the
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Published in News - 20 December 2018

Retail planning software: The time for change is now

One of Slimstock’s Retail experts, Stefan Kooijmans, acknowledges that retailers across Europe, North America and South America struggle with the same issues; fierce competition, increasing price sensitivity due to growing transparency and pressure to shift to an Omni-channel retailing model.  “Retailers need to make difficult decisions when it comes to Omni-channel retailing, but they often
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Published in News - 20 December 2018

Wolseley Canada added to Slimstock’s rapidly growing list of North American clients

Plumbing and HVAC supplier, Wolseley Canada, selects Slimstock to improve in-stock performance for clients. Slimstock, a global leader in providing inventory optimization software, today announced they will be supporting Wolseley Canada’s effort to re-engineer sales and operation planning processes to ensure optimum performance from over 220 stocking locations. Slimstock’s implementation consultants will partner with Wolseley
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