It’s critical for retailers, suppliers and distributors to have accurate, up-to-date information about inventory levels.
For retailers, poor inventory visibility often leads to out of stock situations. But for many stores, the only way to keep track of which products might be running out of stock is to walk through the aisles and count. This is expensive and slow, often resulting in stock outs. The retailer risks losing sales and damaging customer loyalty.
Suppliers and distributors need to know how much inventory their customers have on hand, so that they can anticipate future demand and produce enough product to avoid short shipping. Lack of information means too much guesswork. To mitigate short shipping risk, they must keep a high level of safety stock, which ties up working capital and leads to waste.
This service continuously monitors the sales of all products in all stores and detects unusually low (or high) sales volume that indicates a likely stock out. It will help users to:
Customers also use this service to
To focus on particular business needs, Crisp’s Out of Stock service view can be adapted with various filters and selectors. Below are a few examples.
One view below shows the cost of Out of Stock incidents, by product, category, and store location.
The next view shows individual Out of Stock incidents for a selected product, in a selected store. The view highlights the time of day when the incidents occurred, and their cost (lost revenue).
Another view below shows an hourly plot of out-of-stock incidents, by product and location. This view can help organizations understand their out-of-stock patterns, to improve their ordering process.
Profitability, Inventory, eCommerce
Methodology: This service analyzes the historical sales patterns of all products in all stores and determines what sales volumes should be expected at any given time. If sales are unusually low or high, this indicates a likely out of stock situation. The API enables querying for all products in a location where unusual purchase patterns are observed. A sensitivity threshold allows for tuning false-positive to false-negative ratios.