In order to drive sales and retain customer loyalty, retailers must have a real-time and accurate view of stock in all locations and in all states. Without effective stock management, shoppers will inevitably end up disappointed as their expectations are unlikely to be met.
Along with the continuing surge in omnichannel shopping, customer expectations have risen. With the world seemingly at our fingertips, we get rightfully frustrated when that sofa we have seen in store is not available for purchase online, or the person on the till can’t tell us if it’s in stock in one of their other stores (yes, I am still bitter about my recent experience with a furniture company which shall remain nameless!). Even to those who don’t work in the retail industry and therefore don’t realise just how easy this would be, the frustration is real.
To combat this issue, we launched our own real-time stock management platform: Archean. One of our longest clients, Reiss, worked with us to develop Archean in its early stages. Their need for a stock management platform coincided with our product roadmap, meaning that every element of Archean has been built with an existing client’s needs at the forefront of our minds.
Archean was developed from the ground up as a massively scalable and configurable cloud engine, able to consume vast amounts of stock affecting actions. It is benchmarked at (but not constrained to) 1000 transactions per second, meaning that Archean can cope with the transaction demands of the largest retailers.
Archean’s Key Stock Management Principles
Archean consists of several different modules, all contributing to our clients’ smooth stock processes.
- Archean Core delivers high volume transaction processing and maintains stock positions at site/sku/state level. All stock affecting actions are logged and easily searchable to trace the actions that led to the current stock position.
- Archean Move is designed to be deployed in stores as a single portal for stock activity. Transactions in Archean Move can have multiple states and can also trigger activity to other solutions, meaning that Archean can maintain the integrity of legacy solutions where required.
- Archean RFID is our solution for store-based RFID counting. Handheld counting, ticket printing and encoding and guided discrepancy investigation are key features of Archean RFID.
Through regular counting and discrepancy investigation, our recent project with Reiss delivered a 4% uplift in sales, and with it, the confidence to open up store stock for omnichannel fulfilment.
Coming Soon
- Archean Demand brings replenishment determination to Archean
- Archean Count delivers a solution for traditional, barcode based stock takes
- Archean Orchestrate delivers full order management capability to Archean
To learn more about Archean, book a call with Rebecca Malia, Head of Business Development or reach out to info@retail247.com.