17 May 2022
Recent Gartner reports have stated that mastering the inventory and rendering stores as fulfillment centers is one of the key trends for 2022 in retail and distribution industry. In this article, Guruprasad, Enterprise Architect for retail and supply chain at Tietoevry, recommends adoption of Store Inventory Management System (SIMS) and explains the ways in which it can benefit retailers and enable them to rise up to this trend.
Retailers need to have good visibility into their store inventory levels and location. Lack of this visibility results in inefficiencies in inventory management, leading to overstocks and stockouts, which can lead to significant revenue losses.
In this article, Guruprasad Nagaraja, Enterprise Architect at Tietoevry Create, propounds that, retailers should adopt Store Inventory Management System (SIMS), which will give them the ability to digitally manage and optimize rack space and make best use of their store’s capacity at a minimal cost. This ability, Guruprasad avers, can prove hugely beneficial to omnichannel retailers and is the missing cog that can potentially turn stores into micro-fulfillment centers that provide a seamless experience to the store customers.
Click here to read the full article that has been published in SupplyChainBrain, which is one of world’s most comprehensive supply chain management information resources addressing the fundamental principles of supply-chain management. This forum also identifies latest news, emerging trends, technologies and best practices, forward thinking ideas and cutting-edge solutions and writes and reports about these as they evolve and mature.