Retail Inventory
Inventory optimization is a well-documented problem within the extended retail industry, affecting not only retailers but the up-stream logistics providers, suppliers and consumer products companies as well. Out-of-stocks and over-stocks cost the industry an estimated $180-$300 billion annually, according to the Retail Leaders Industry Association.
Unfortunately, gaining the visibility necessary to make better inventory allocation decisions remains elusive. Frequently, the relevant information is trapped within over-extended transactional systems or periodically-updated data analysis infrastructure - causing multi-day lags in identifying and responding to fluctuations in end-consumer demand.
Leading retailers are evolving beyond demand forecasting to real-time demand monitoring - implementing a process of continuous observation of actual sales trends, to instantly detect fluctuations and immediately react throughout their extended supply chain. Such early visibility is proving particularly important in the retail industry because it requires the movement of physical goods. To compensate for the necessary lead-time, companies must understand demand as it happens to maximize their decision time and make the optimal inventory allocations.
Truviso's solution enables supply chain, inventory management, and logistics executives to gain earlier visibility into sales and inventory trends, without the latency typically faced in traditional reporting mechanisms. Through continuous, real-time monitoring across point-of-sale, inventory, and other source systems, our solution instantly identifies exceptions and enables real-time alignment of inventory with demand.
For more information on Truviso's Retail Inventory solution, download our solution overview here.
