There is nothing worse than finding out a popular product is out of stock at a peak time, keeping shelves stocked at all times is essential to retain customer loyalty, so follow these simple steps to help ensure you don’t experience any zero selling periods.
Say Hello To Data
Whilst proper planning can never guarantee success, what it does is paints a clear picture of potential sales opportunities, issues that could arise and how to maximize ROI. Back before the world of data offering and technology innovation, a walk about on shop floor would be the best way to keep track of stock levels.
We now have systems like our TSeye that can provide real time data helping to ease the problem of out-of-stock situations. It also means that at store level we can ensure different stores have the correct products and stock levels available.
For example, before some stores were ordering far too much product, some of which sat on shelves and went out of date, never making it to the store floor. By knowing each store’s correct inventory and what the consumer requires, we are able to reduce waste, keep costs down and keep stock to the correct levels.
Stay Organised and Vigilant
Of course, fancy data systems can only go so far. While a nifty solution can keep your stock levels on track, it can’t deter shoplifters nor can it stop suppliers from delivering the wrong quantities.
This is why the help of a TSM and a strong in-store team will be essential. Don’t just rely on the data, know everything about what’s going on. Is there an issue on the supply chain? Or do you have an issue with theft?
It’s the role of a brand ambassador to visit the store and report back to a brand’s head office on what is happening at store level. Without this personal touch, the results and sales opportunities would be not meeting their full potential.
Training and Communication
You can have excellent tools and a solid inventory plan in place, but if you don’t have the right employees to implement them, you’re still going to run into out of stock issues.
Staff who don’t stay on top of replenishment or don’t communicate with one another about which products are available is only going to end in Zero Sales. Even worse you could have the most amazing data available, however if your staff can’t interpret it – well you might as well be talking gobble de gook.
Training and developing staff knowledge is essential for this to succeed – TSMs can help by building relationships and develop in store staff product knowledge, ensuring that they understand what is required. We promise your employees work harder, are more motivated, and produce better results, which is why retailers should keep finding ways to empower and develop them.
Want to chat to one of our experts just click here….