Turn Stock Data Into Profit Opportunities
The Profitect Inventory Module (INV) allows you to understand the behavior of your inventory and operational execution within the store. The module delivers quick, directed actions equipped with the necessary details to address and correct anomalies. Profitect’s inventory module automatically correlates data patterns with key performance indicators (KPIs) such as damage, waste, and shrink to identify opportunities and solutions for margin expansion. It provides specific, guided, and actionable insights, sending them directly to the appropriate personnel for immediate action. Profitect’s INV module identifies opportunities originating from shrink, waste, on-shelf availability, inventory distortion, markdowns, and sales trends. It provides decision-makers with specific actions to implement, and continuously measures execution to ensure positive outcomes. The module’s pattern analysis quickly transforms lengthy inventory reports into increased visibility, accuracy, and profitability.
- Identifies profit opportunities downstream at stores/item and upstream through out the value chain
- Reduces product damage and waste losses
- Increases on-shelf availability
- Identifies vendor quality issues, improve RTV credits
- Maximize sales / revenue by Minimizes Out-Of-Stock
- Increases customer satisfaction
- Improves promotional execution
- Prevents margin erosion
- Reduces inventory discrepancies
- Increases inventory accuracy and visibility
- Increases shrink visibility – down to the SKU store level
- On-hand availability
- Out of stock percent
- Cycle count adjustments
- Physical inventory adjustments
- Sales and returns
- In-store On-hand snapshots
- Store Receiving
- Inventory Adjustments
- Daily Sales
- Customer Returns
- Physical Stock take Adjustments
- Open boxes/Known loss
- Energy Consumption
- Traffic counts
Profitect’s Inventory module provided users at all levels with real time updates showing the current stock levels and was able to identify shrink and inventory inaccuracies, including out-of-stock, on-shelf availability, and inventory distortion.
- The Challenge: A fashion merchandiser was experiencing a pattern of low sales for a product associated with a trade promotion.
- The Course of Action: The store implemented the Profitect inventory module to provide best practice recommendations to recover profits. The module discovered that the store did not receive the additional product to support the vendor display and were unable to participate in the promotion.
- The Results: The module automatically sent an alert to the distribution center prompting an emergency overnight shipment to the store and a task was created to monitor future product promotion distributions. The opportunity resulted in the store reaching its promotion sales benchmark.
Profitect implemented the tool quickly, worked with us until it was fully deployed, and adapted it to our needs. They also supported us with user training and coaching, including store visits. – Director of Loss Prevention & Inventory Control.
- The Challenge: A grocery chain was experiencing rising shrink in their supply chain. In addition, the company could not detect and prevent the problems impacting their bottom line.
- The Course of Action: The chain implemented the Profitect inventory module to provide a way for the managers to monitor shrink and operational performance across the entire chain. With the help of the module, the store managers gained access to the alert system and could identify opportunities to reduce shrink.
- The Results: Using the guided actions provided to the managers, the company increased profits by 6.3% by reducing the loss trend. Moreover, the largest department in sales volume, reduced loss by 50%.