Fixing Out-of-Stocks in Retail
Brands and product suppliers are all too familiar with the recurring problem of out-of-stocks (OOS), one of the most costly challenges faced by the retail industry today. With thousands of SKUs to manage, it can be difficult for product suppliers to master the science of inventory replenishment – especially with the growing number of variables that can impact the replenishment rate for each individual SKU. Thankfully, new technologies for collecting, sharing, and managing point-of-sale data have dramatically reduced the incidence rate of costly out-of-stock situations.
As concluded by recent studies, the average incidence of retail out-of-stocks is just over 8%. Leading companies have recognized that reducing out-of-stocks is the first step towards strengthening their business, resulting in investments in technology that allow these companies to overcome recurring OOS issues. Thanks to breakthroughs in cloud technology, product suppliers are now turning to retail analytics platforms - such as Askuity - to overcome these recurring issues and strengthen their business.
With Askuity’s built-in inventory reporting, product suppliers are now able to preemptively avoid out-of-stock situations, allowing them to build even stronger relationships with their most valued retail accounts.
Solving Your Out-of-Stock Challenges
Automatically consolidate point-of-sale data for each of your retailers - whether that be from vendor portals, EDI feeds, or spreadsheets. Askuity turns once messy data into actionable insights, so that you always know how your business is performing across the board.
With store-level visibility, Askuity indicates when and where you are out-of-stock. And with SKU-level detail, Askuity provides actionable insights into seasonality and turn rates - keeping your products on shelf where they belong.
There’s An App For That
With an intuitive mobile app for iOS and Android, Askuity allows you to take real-time data with you wherever you go. Whether you’re in store or off-site, your data is always available when you need it most.
User Configured Reporting
Don’t spend hours formatting data and building complex pivot tables. Askuity automatically collects data from any source, to build insightful reports that cater to every business need.
Product & Store Groups
Askuity’s unique tagging feature allows you to easily group products and stores however you'd like. Whether grouping pilot stores for a new product launch, or grouping SKUs into product lines, data is structured to fit your needs.
Optimized Promo Execution
Askuity overlays point-of-sale data with promotional activity, so it’s easy to see which promotions have provided the most lift and which regions are most engaged. Easily track your promotional ROI and uncover your best promotions.