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Inventory Record Accuracy Webinar

Date: Tuesday, November 19, 2019
Time: 10:00 AM - 11:00 AM EST
Location: Webinar

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Learn more about ECR Community Shrinkage & OSA Group's new research study on the problem of inventory record inaccuracy. The research aimed to answer three key questions:

  1. To what extent are inventory records wrong?
  2. How does inventory record accuracy deteriorate over time?
  3. How does an improvement in inventory records affect sales?

During the study, researchers worked closely with seven retailers. The findings showed that 60% of inventory records are wrong and that when the inventory records are corrected that sales can increase by 4 - 8%.

As one of the retailer members of ECR shared, their board regularly pore over and inspect new ways to grow retail sales that most often require big investment and high risk, yet here we have new research that shows that by just improving the accuracy of their inventory records they can drive sales, with little risk and potentially, a low level of investment.

The webinar will explore the research objectives and findings in more detail, and importantly, propose a number of interventions that retailers and manufacturers could consider and act upon. Following the presentation of the findings, Hannah Newton, Business Intelligence Manager for Tesco PLC, will share a retailer perspective on the findings, and implications for retailer organizations.


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Agenda:

  • Opening Remarks and Background to the Study
    • Colin Peacock, ECR Community Shrink & OSA Strategy Coordinator
  • Research Objectives and Findings
    • Professor Christoph Glock, TU Darmstadt, Germany
    • Professor Yacine Rekik, EMYLON Business School, France
    • Professor Aris Syntetos, Cardiff Business School, UK
  • Making Sense of the Findings
    • Hannah Newton, Business Intelligence Manager, Tesco PLC
  • Closing Remarks
    • Colin Peacock

About ECR Community Shrinkage & OSA Group
The Group is part of the Efficient Consumer Response Community, a voluntary and collaborative retailer-manufacturer platform with a mission to fulfill consumer wishes better, faster and at less cost. Over the past 19 years, the Group has acted as an independent think tank focused on creating imaginative new ways to better manage the problems of loss and on-shelf availability across the retail industry. Championing the idea of Sell More and Lose Less, the Group is open to any retailer and manufacturer to join. Its work is supported by research funding provided by several companies, including RGIS. More information on www.ecr-shrink-group.com.

 

 

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