Efficient inventory management – optimize technology usage- optimize costs
In any retail operation, limiting inventory cost is of utmost importance. Inefficient management of inventory may result in stock-outs for some products, whereas excess stock for others.
GoFrugal to your Rescue…
- Reduce stock-outs – provide minimum/maximum reorder for stock level for product-wise combination
The presence of many products with missing sizes or colors would be particularly detrimental to the customersâ€™ store experience.Also, buying huge quantities of goods at low prices but then being unable to sell the stock may lead to increased cost of inventory.
- Rapid replenishment – set item-level inventory thresholds for automated ordering and replenishment
The needs may vary based on geographical location of store, and labor hours (freight break-down, shelf put-away during customer peak vs. non-peak hours), seasons and various other factors
Matrix extension also gives you the added advantage of Image Mapping and EANcode to identify the various combinations of garments and footwear, preventing stock mismatch and confusions.
GoFrugal Dashboard Inventory Management
Increase Inventory turnover -in turn, reduce holding cost-respond well to customer requirements- increase net profits.
Managing your stock effectively leads to uninterrupted sales, but involves constant understanding of the changing trends and tough decision making in terms of write-downs
Let the dashboard simplify your decision making by providing an instant view of your
- Top selling items
- Fast moving products
- Sales and profits
and much more to aid and support your business decisions
Control shrinkage :
In India shrinkage is equivalent to 2.9 percent of retail sales, the highest in the world.
Reducing shrinkage through well-defined processes for physical counting of inventory management, effectively saves costs, builds trust and improves sales.The Physical Inventory feature gives you a detailed picture of your physical stock and discrepancies, if any.
You can get an easy access to all this information in real-time, from anywhere, at anytime from any web browser, with our web-based reporter. Now you can get a better control and foresight into your business.
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