Magazine Article | March 25, 2011

Research & Trends: Real-Time Inventory Accuracy And Visibility

Source: Innovative Retail Technologies

By Sahir Anand and Russ Klein, The Aberdeen Group

Store-level RFID (radio frequency identification) has a direct relationship with inventory management. Aberdeen Group data reveals that an astounding 70% of retailers rate themselves “average” or “below average” on their inventory management processes. Aberdeen’s May 2009 Retail Inventory Optimization benchmark report revealed that, while 75% of Best-in-Class retailers indicate the ability to provide enterprisewide visibility into SKU level availability, only 40% of Laggard retailers currently possess similar capabilities. Moreover, only a third of retailers are using traceability tools for inventory tracking. Aberdeen data from the Item-Level RFID Tagging in Retail: Improving Efficiency, Visibility, Loss Prevention, and Profit report indicates that for 38% of retailers the costs associated with the slow movement of inventory is one of the top pressures in stores. This means that visibility into product movement (on-hand and in-transit active, inactive, discount, clearance, and discontinued merchandise) is imperative for creating cohesive replenishment, merchandising, and sales forecast plans, as well as overall execution of sales and operations plans (S&OP).

VIEW THE MAGAZINE ARTICLE!
Signing up provides unlimited access to:
Signing up provides unlimited access to:
  • Trend and Leadership Articles
  • Case Studies
  • Extensive Product Database
  • Premium Content
HELLO. PLEASE LOG IN. X

Not yet a member of Retail IT Insights? Register today.

ACCOUNT SIGN UP X
Please fill in your account details
Login Information
I'm interested in newsletter subscriptions.
ACCOUNT SIGN UP

Subscriptions

Sign up for the newsletter that brings you the industry's latest news, technologies, trends and products.

You might also want to: