Inventory indicators are essential for portfolio segmentation. These should show you what has sales potential.
To manage inventories and avoid out of stock, the Teamcore Customer Success team shares some recommendations and best practices.
In this way, you can add value to the execution and prevent excesses that represent obsolescence and waste.
1.Products with low availability
Develops a special control of products with low availability, to identify supply or re-supply opportunities.
This is how you avoid lost sales and ensure that customers find what they want, when they look for it.
Teamcore’s Smart OSA offers the opportunity to improve the availability indicator between 6% and 9%.
2. Products with low coverage
It’s very important to analyze products that have low coverage or few days of inventory, as established by DOH (Days of Inventory on Hand) metric.
Their poor availability represents a great risk to the company’s sales and reputation. Therefore, it’s essential to have sufficient data and take the necessary actions on time.
3. Products soon to expire
Availability is the starting point for building a relationship of trust with the customer, which also defines their purchase decision.
It’s an unforgivable mistake to allow an out of stock product that could be predicted far enough in advance to avoid it.
Smart Retail Execution is the functionality of Teamcore so that your products are always available and improve sales.
4. Prioritization for product replacement
One of the actions to be implemented to move from data to retail evolution is the timely replacement of out of stock products.
It’s necessary to prioritize the actions that provide the availability of products at the store.
“Inventory turnover is an essential metric to take care of working capital. Therefore, alarms must be generated for people who are responsible for the management indicators. This promotes making decisions on time.”
Customer Success Director