Retail Solutions - Inventory Management
65% of 370,000 retail inventory numbers in 37 stores were found to be inaccurate

Retail Inventory Management Solutions

Minimize Mistakes to Maximize Success

Inventory is the lifeblood of a retail business. Managing it well is critical. Poor inventory management is one of the top 10 reasons small businesses fail, according to the SBA2. In an environment of fierce competition and low margins, you simply can’t afford such miscalculations.

If you overestimate demand, inventory builds up, costing money and eventually hitting the sell-by date or going out of style before it’s sold. Conversely, underestimating demand frustrates customers, who may give up and go elsewhere. Of course, you can never forecast demand with 100% accuracy, but if you don’t have correct, up-to-date numbers to start with, you don’t have a chance of getting it right.

Increase Your Inventory Awareness

With cloud-based inventory software, you can see your stock in real time, either at a single store or across multiple locations. Dashboards help your managers visualize information in a variety of formats, and they can access the system anywhere from a PC or mobile device. Inventory software can be integrated with an ERP system to make forecasting easier and more accurate. It can also work with online sales, making it especially helpful in today’s omnichannel environment.

Trusted Experts Lead the Way

Our team of experts can help you streamline inventory management, leveraging a mix of barcode and RFID technology, cloud-based software solutions, and critical updates to infrastructure to optimize forecasts and save time and money. Start with a consultation today. We can help you determine the right solution for your environment and set goals for success.

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  1. http://pubsonline.informs.org/doi/abs/10.1287/mnsc.1070.0789
  2. http://usgovinfo.about.com/od/smallbusiness/a/whybusfail.htm