Realtime Inventory Management
Today, retailers, both large and small, are striving to offer an Omni-Channel experience and need to ensure that the customer experience between online, in-store or any other channel is as seamless and painless as possible. To achieve this, retailers need to know where exactly inventory is across all channels in real time. Commonly, retailers have a problem getting real-time visibility because inventory levels are constantly changing due to customer purchases and replenishment activities within and across stores and distribution facilities. So what usually happens is that retailers wait until the end of the day to sync the inventory and analyse activities. Decisions are made based on data at rest and out-dated. Another problem is that retailers have out-dated integration strategies in place, making it very difficult to have a single view of inventory. Data is replicated on multiple systems and out of sync for most of the day.
But, if retailers had access to accurate real-time information, it would be much easier to match the demand with true supply levels to fulfil customer orders. This can truly be a game changer for any retailer. The Real Time Inventory Accelerator is about bringing event processing to all channels, stores and distribution facilities. The concept is to capture inventory from all available systems and combine this data with other systems, reference data and external information into a single repository to give an overall holistic view of inventory and related activities. This allows retailers to analyse data and take action in real-time.