ReposiTrak, Inc., the industry leader in solutions for stock replenishment, compliance, sourcing, food safety and risk management for the retail supply chain, reports that three quarters of general merchandise suppliers using its Out-Of-Stock (OOS) Management Solution for improved direct-store delivery are reducing out-of-stocks by an average of 75 percent.
ReposiTrak’s OOS Management identifies out-of-stock opportunities so suppliers can work with retailers to maintain on-the-shelf inventory. Although out-of-stocks has been an issue for years in food retail, on-the-shelf product availability has taken on a critical urgency for traditional food retailers as shoppers now have the option of ordering products online. A 2018 IHL study found that 24% of Amazon’s North American retail revenues can be attributed to consumers who first tried to buy an item at stores but found their local stores out-of-stock.
General merchandise suppliers using the out-of-stock management solution made improvements in available shelf inventory in less than three months. “We pair technology with people to give general merchandise suppliers the means to reduce out-of-stocks,” said ReposiTrak Chairman and CEO Randy Fields. “We provide suppliers with actionable information and then our team of experts works with them to identify opportunities for reducing out-of-stocks.”
Endorsed by the FMI-The Food Industry Association for reducing out-of-stocks, ReposiTrak’s OOS Management is a software-as-a service, cloud-based solution that takes point-of-sale (POS) data from the retailer to provide actionable reports for store-shelf management and replenishment. ReposiTrak’s proprietary algorithms analyze POS data to generate weekly reports, pinpointing how vendors can make improvements at the store-level, item-level and route-level to reduce out-of-stocks. A team of ReposiTrak professionals then follow up with the suppliers to take action based on the reports.
Suppliers in a range of categories — not just general merchandise — are using the ReposiTrak OOS Management solution to address their out-of-stock problem. Although ReposiTrak rolled out its OOS Management Solution with Direct-Store-Delivery (DSD) vendors using ReposiTrak’s Scan-Based Trading (SBT) solution, retailers can use the OOS solution to work with non-DSD suppliers to address the out-of-stocks as well. In addition, a vendor does not have to be participating in an SBT program to take advantage of the solution. OOS Management Reporting is applicable to all types of suppliers, no matter the payment arrangement with the supplier, or whether they are involved in direct-store delivery or ship to a retailer’s distribution center.
The ReposiTrak Platform drives growth and supports supply and demand activities for retailers, manufacturers, and their trading partners, consisting of three product families; Compliance & Risk Management, Supply Chain Solutions and MarketPlace Sourcing and B2B Commerce. Delivered via one technology platform, all the applications are mutually reinforcing and work synergistically to create value and positive impact across the entire enterprise.
About Park City Group and ReposiTrak®
Park City Group (NASDAQ: PCYG) is a Software-as-a-Service (“SaaS”) provider that brings visibility to the consumer goods supply chain through its ReposiTrak, Inc. subsidiary. ReposiTrak has three product families; Compliance & Risk Management, Supply Chain Solutions, and MarketPlace Sourcing and B2B Commerce. The platform provides retailers and suppliers with a robust solution suite to help enhance operational control and increase sales, while enabling them to protect their brands, reduce risk and remain in compliance with regulatory requirements. More information is available at www.parkcitygroup.com and at www.repositrak.com.
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