- 4 Apr 2016
Single View of Stock: In Pictures
You may have seen our retail focus blog last week on single view of stock, and how critical it is to retailers pursuing omnichannel.
Benefits to the retailer positively influence every aspect of retail operations.
With regards to the Merchandising process, a single view of stock can enable retailers to display more accurate stock messaging, whether by only showing items in stock, removing customer frustration; or by creating urgency through low stock messaging such as ‘last chance to buy’. A single view of stock can also aid in-store staff, empowering them to answer enquiries about stock levels with a view across all channels, meaning they can direct a customer to alternative stores, or order the product online.
Fulfilment is also impacted positively by a single view of stock. Retailers can accurately track the presence of stock in both stores and warehouses in real time, turning stores into virtual distribution hubs. It can be more cost effective to ship from store, rather than rely on inflexible centralised warehousing.
For a single view of stock to be worthwhile, it must reflect changes in physical stock status in real-time, enabling retailers to access reliable information about all stock from a single viewpoint.
Check out our infographic below, giving a round up of 3 main benefits of a single view of stock in terms of omnichannel retailing and the customer experience:
Want to know more about how you can achieve a single view of stock, and improve business performance? Contact us to talk more about Merret, by emailing firstname.lastname@example.org, or fill out our quick contact form here.