The Importance of Inventory Accuracy: Highlight 2
Discover the impact of BOPUS (Buy Online, Pick Up In-Store) and online shopping trends on inventory accuracy in this enlightening video by Datasan. In a rapidly evolving post-COVID world, retailers face amplified challenges in maintaining precise inventory records.
Datascan explores how the rising popularity of BOPUS and online shopping intensifies the need for accurate inventory management. Gain insights into the historical practices of retailers, who traditionally only counted inventory once or twice a year, which leads to discrepancies. There are detrimental effects of such inaccuracies on business operations and profitability.
With extensive data to support their findings, Datasan reveals that inventory accuracy can deteriorate by up to three percent per month, particularly for fast-moving products or those prone to high shrinkage without proper inventory management. Maintaining real-time inventory accuracy beyond annual counts is critical.
Uncover practical solutions and strategies to combat the challenges faced by retailers in maintaining accurate inventory levels. Explore the role of advanced technologies, inventory counting systems, and data analysis tools in improving accuracy and optimizing inventory management processes.