Stock-outs are bad for business. If a customer wants to buy something from you and you don’t have it in stock:
- You lose the sale of that product
- Your customer may buy their entire shopping list from a competitor
- The competitor may give your customer better service, so you risk losing your customer for good
Have less stress, make more sales
Being out of stock of an important item is stressful – from irate customers to sales and marketing complaining about poor service levels. What if you could set your inventory levels based on the level of service you targeted, keeping more inventory of the items that are selling and less inventory of the items that are not.
Imagine the improvement to your bottom line additional sales would make? Not only that, you get to keep your customers happy and retain them.
So how does Sage Inventory Advisor do it?
The only way to keep on top of things is with focus:
- the dashboard KPI tracks your service levels and stock outs so you can monitor how you are improving
- the exception lists highlight the worst offenders, enabling you to focus on items that are having a big impact on your business
- Track your actual fill rate against your target
- Easily find items affecting the fill rate
- Review items that are selling more than the forecast before they stock out
- Track the value of lost sales due to stock-outs
- Drill-down into the worst offenders and take action
- Make more sales with the right stock in the right place
- Get early warning of items before they stock out
- Take action to minimise lost sales
- Prevent future fill rate issues
One of our key reasons to implement Sage Inventory Advisor was to reduce excess stock. The $500k+ that’s now in our bank account rather than on our warehouse shelves is evidence enough we have achieved that!
See the full case study.
Tim McCredie, Barrett Distributors