Transform Retail Industry Order Fulfillment with Mobile Retail Inventory Management Solutions
With over 4 billion devices in the world, which is half the population of the world, Smartphones and Tablets have laid the foundation for us to stay interconnected, make intelligent decisions and stay integrated. This technology disruption has driven a behavioral change in the way we expect our day-to-day life to function. This includes our personal life and at our work place. Since the advent of smartphones and tablets, the retail industry has been focused on empowering their consumers through innovative mobile solutions, leaving behind their employees, who play an equally important role while interfacing with these customers.
The cost of the amount of time employees spend trying to satisfy shoppers who ask about a specific out-of-stock situation is approximately $800 per week. The corollary for shoppers is the amount of time spent waiting for resolution that could be spent more productively for the retailer in shopping – an estimated 20% of the average time for a shopping trip.
Using mobile technology, smartphones and tablets, the retail industry can avoid such situations and better manage their inventory by empowering their employees to increase overall profitability of a retail chain.
Retail Industry Order Fulfillment with Mobile Inventory Management Solutions
Retailers can now use mobile solutions for insight driven inventory management and move away from the reactive process of the past and drive more proactive inventory management. The benefits of using a mobile inventory management solution can be impressive and result in substantial savings in cost of goods sold and a marked increase in gross margin revenue on inventory (GMROI).
Mobile Retail Inventory Management Solution Benefits
Retail shoppers will no longer need to wait in order to resolve an out-of-stock situation. Retail store employees can use their mobile phones to do a quick look up of stock availability at the time of customer inquiry. In addition, Store employees can firm their planned orders anywhere in the store, to decrease their order to shelf time, and avoid an out-of-stock situation.
Retail fulfill management is the process of recording and ordering the movement of stock around the company and also managing customer deliveries and stock returns. For a retailer engaged in ecommerce business, it is imperative that your available stock information is accurate; avoiding any stock related embarrassments or delayed deliveries. A Mobile Stock movement solution lets you manage receiving and issuing of your stock at the point of receipt or issue without investing in heavy barcode readers, with 3rd party interface integration to your ERP system.
For retailers: Retailers have many options when selling their products online. However, seamless and streamlined shipment of online order fulfillment and warehouse-to-warehouse stock movement can be cumbersome when you have to print these shipping lables/packing slips from a desktop and then process these orders one by one. A Mobile Solution that provides the platform to view all your open sales orders, batch print your packing slips, UPS, Fedex or DHL labels anywhere, anytime can dramatically streamline your order fulfillment process. In addition, being able to notify your customer of the shipment with a single click will transform your online order fulfillment process.
In retail industry 31% of invoices get blocked due to untimely goods receipts in the system. This introduces tremendous inefficiency into the Procure-to-Pay lifecycle and decreases employee productivity. Based on a study conducted by OB10, 1 million annual invoices require 175 FTEs to handle invoice exceptions. A detailed case study conducted by Innovapptive indicates that proactive blocked invoice resolution can potentially reduce 20% of FTEs which is equivalent to $1.5M savings. Proactive push notifications to create a Goods Receipt in seconds anywhere, anytime and a Mobile Universal Approvals solution on your Retail Employees smartphone to increase your overall bottom-line.
Innovapptive’s mStockMovements™ and mWorkList™ streamlines your order fulfillment process, avoid out-of-stock, over stock situations and reduces overall cost of goods sold to increase retail industries bottom-line. Learn more about these solutions and download the full demo version of these apps here –