How Do You Optimize Your Inventory Management Process?
If you’re looking for a fresh retail solution to improve your margins, decrease shrink, and build customer loyalty, then having an efficient inventory management system is key. Incorrect fresh item counts due to improper processes can adversely impact both your store’s revenue and your customers’ in-store experience. Your management system will be more prone to errors if you are relying on manual reports – not to mention the resulting higher labor costs caused by inefficiencies.
That’s where our industry leading Inventory Management module comes into play. Instead of a traditional, labor-intensive process, our Inventory Management module will:
- Track all activity that impacts your product inventory transactions, such as Point-of-Sale, discards, ingredient usage, transfers, reclamation, and conversions.
- Track, measure, and receive alerts on out-of-stock fresh retail and backroom items.
- Look for patterns and insight into unknown losses by tracking all inventory adjustments by item, category, department, or store.
- Forensically track manual corrections and all financial count activity by user, location, and product.
- Provide verifiable count results by organizing and conducting financial counts for all in-store fresh categories and departments.
- Allow you to see the state of any financial count in any store from a store-centric corporate portal.
- Ensure accuracy by both volume and value by generating combined retail and backroom inventory totals at the item level cost.
- Interchangeably scan product codes and capture items not on file without interruption to count workflows.
With so many powerhouse features at your fingertips, you’ll benefit from a decrease in labor hours and risk of error – and hit all your Fresh operational targets in the process.
Optimize Labor Hours
Invafresh’s automated system will optimize the labor hours required for in-store financial counts. As employees are given better control of inventory management, you’ll see a 50% reduction in turnaround time. You’ll be able to efficiently utilize the minimum amount of labor required to schedule and perform accurate counts for in-store and backroom items, coolers, freezers, and sales floor stock so you can complete all the financial reporting necessary.
The Inventory Management module will provide your employees with the tools they need to review and adjust counts as required, which can then be approved from a main portal in the back office or on a portable device. By reducing manual processes, you’ll reduce the number of corrections passed to corporate departments as well as post-count corrections.
Standardize and Automate Reporting
Embrace technology by eliminating manual reporting. Our system follows public corporation financial reporting guidelines to standardize and automate inventory reports. This enables corporate, district, and store management to easily monitor count progress within a much smaller timeframe.
Increase In-Stock of Fresh Items
With better out-of-stock tracking and awareness, you’ll naturally increase your in-stock of fresh items. Not only that, but having a management system that tracks, measures, and alerts on out-of-stock fresh retail and backroom items means you’ll also reduce the number of stock-outs and overstocks – effectively lowering your overall inventory costs and reducing waste.
A clunky, manual inventory management process will only increase labor hours, risk of error, and recounts. All of that translates into unnecessarily higher expenses that would have been reduced with an optimized and automated fresh retail solution. Invafresh’s Inventory Management module will significantly cut down cost-inducing processes so that stakeholders, management, and in-store employees can focus on what matters most – delivering the freshest experience possible for shoppers.