Well, it is – I just wanted a compelling headline, however from an operational perspective awareness and management of Stock Accuracy should be the dominant concern.
When I raised the issue of Stock Accuracy several years ago, at the beginning of the multi / omni channel journey, I often had to explain the difference between accuracy and loss. If the output of a count yields plus ten blue jumpers and minus ten red jumpers of the same style ( same price ) you would have a stock loss of zero and would be congratulating yourself. However, this actually represents twenty units of stock that are inaccurate. In the world of joined up, real time retailing, this is a problem. Trying to sell stock that you haven’t got or not trying to sell stock that you have got is illogical by anybody’s measure.
Underpinning maximised sell through and sales in today’s world is the need for real time visibility of accurate stock. Same day Click & Collect, Store Dispatch, Customer Satisfaction, Channel Visibility plus many other modern retail processes are all made more efficient by the awareness of accurate stock.
There are many ways of tackling stock inaccuracy that we can debate in future posts. There are accuracy leakage points all along the supply chain, but measurement and regular visibility are pre-requisites for improvement.
Is Stock Accuracy a headline measure in your business ?