Retailers Seek To Reduce Stock-Outs
by Jessica Plourde Hutter, on August 29, 2016
Some retailers are taking steps to reduce the gaps in their stocking and better serve their customers.
In today's retail environment, sellers cannot afford to have any popular item out of stock. In years past, this would have simply resulted in an unhappy customer - a problem, to be sure, but one that could be remedied at a later date when the shopper returned. Today, however, there's a good chance that customers will simply pull out their smartphones and order the product online if they can't get it right away. The risk of lost sales has never been higher.
Some retailers are taking steps to reduce the gaps in their stocking to better serve their customers. Target, for instance, is working with its suppliers to speed up the flow of goods and reduce warehouse bottlenecks.
"An unacceptable number of vendor shipments were received by our DCs either too early or too late," Target Chief Operating Officer John Mulligan said in a recent earnings conference call, according to Seeking Alpha. "We have been collaborating with our vendors to increase the percent of shipments that arrive on the correct date and we have already seen meaningful progress."
It's true that retail organizations can achieve impressive results with supply chain management systems that integrate and automate key processes. But it's important to use the benefits of barcode labeling to fill in the gaps. Proper labeling can support improved traceability and meet evolving customer requirements.
Loftware's Enterprise Labeling Solution can enable greater supply chain responsiveness, even on a large scale. Users in all levels of the chain may struggle to design and update the complex labels needed to keep everything running smoothly. Loftware integrates the process with a dynamic, data-drive approach that supports speed and efficiency for retail labeling.
For more on the benefits of Enterprise Labeling check out this report co-sponsored by VDC Research.