The Single Point of Truth (SPoT) – Knowing the flow, the location and the status of merchandise
A stock visibility platform provides a standardized single point of integration to business and consumer applications for complete supply chain and inventory visibility in real-time. It monitors the inventory transactions and movements from all related sources in real-time and can provide (accurate) stock information to relevant backend systems, such as order management. This is of utmost importance with the increasing complexity of omnichannel retail supply chains.
RFID technology makes it possible to automate stock management – resulting in optimal merchandise availability
Major brands are adopting RFID to make sure inventory is accurate. This allows for accurate replenishment as the distribution centre knows exactly which products are needed in which stores. Online order fulfilment runs smoother as shoppers can actually see which items and sizes are in stock before placing the order.
RFID technology makes it possible to automate stock management – resulting in optimal merchandise availability.
In-store refill: With RFID, it is possible to differentiate stock on the sales floor from stock in the back room. Based on the RFID count per sub-location, retailers can efficiently and accurately start refilling.
To-store replenishment: RFID increases stock accuracy. As a consequence, (auto-) replenishment tools can work reliably and, thus, avoid further out-of-stock situations.