As competition intensifies and economic pressure rises, retailers face increasingly complex inventory management challenges. Making products available to consumers in retail outlets doesn’t just involve stocking shelves and displays. It is also about knowing that customers can get the product they want, at a price they can afford, when they want it – or in other words, controlling inventory costs and assuring high shelf availability, specifically during special promotions.
An inventory management system can help retailers achieve this awareness. It informs them of items received, the time they were received at, the shape they happened to be in, where current inventory is located and what it’s worth, and when it’s time to order more. No more "assuming" that you have enough of a particular item. No more "thinking" that you have placed an order to replenish supplies. An effective inventory management system eliminates this guesswork.
Retalix Inventory Management meets all these objectives by offering a comprehensive set of modular software solutions that directly address merchandise and inventory management, procurement and supplier management needs. This offering provides complete, centralized and chain-wide inventory control and management execution, with rich support for any inventory transaction type, and continuous visibility of balance on hand. The solution grants increased awareness of inventory value and improved insight into retail chain profitability, through on-going valuation of inventory transactions’ financial significance.
Utilizing Retalix Inventory Management, retailers can effectively manage item-level inventory movements. Both chain headquarters and stores can analyze and forecast demand to better manages item orders and purchases as per shopper input. Inventory Management affords enhanced control of retailers’ offerings, enables optimization and reduction of expensive inventory levels, and minimizes undesired markdowns and waste.
The solution also helps efficiently replenish inventory by interfacing with Retalix Demand-driven Replenishment, a consumer demand-driven solution that utilizes an advanced forecasting engine to effectively transform retail business from push to pull, enabling close alignment of supply with demand. Inventory Management ultimately improves pricing accuracy and enhances customer service, while reducing inventory loss and increasing retail staff productivity, product availability and overall profitability.
The Inventory Management offering is comprised of these key products: