With 47% of consumers leaving retail stores empty-handed due to stock-outs, RedPrairie Corp. has created a tool to enable point of sale (POS) demand signals to trigger and forecast inventory and workforce demand across the expanded chain.
"With visibility and responsiveness to real-time consumer demand, customers can forecast their business in 15 minute increments to achieve highly accurate labor coverage and more precise inventories to match what consumers want. In the end, retailers are able to improve their business by capitalizing on revenue opportunities and aligning labor dollars to the right priorities," explained Kim Eaton, president of Retail Productivity Solutions for Milpitas, Calif.-based RedPrarie.
While most companies focus on the supply chain from their suppliers to the delivery at the retail store they need to have visibility into the back room and store shelf. "Suppliers and manufacturers also benefit from an E2e approach by leveraging the aggregation of demand signals captured by retailers to validate their forecasts and reduce safety stock in their supply chains," said RedPrairie CEO John Jazwiec.
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