Real-time inventory to better meet consumer demand « RetailFuse

Real-time inventory to better meet consumer demand

2:00 pm - 2:45 pm

Retailers and brands struggle with meeting consumer demands for their products. Brands are especially at risk as they rely on retailers to order the proper number of products based on their forecast for consumer demand. Since the product manufacturing cycle is months long and the current inventory accuracy based on Point-of-Sale data by the retailer is 70-90%, retailers either order too many items and then sell them at a huge discount or they have an out-of-stock condition for the consumer. The proper balance of inventory to meet demand is much closer using Seeonic’s IoT RFID service which typically provides Untethered RFID(TM) inventory counts automatically on a daily basis to the brand. Seeonic’s data has been shown to increase sales by 5-10%.