Stock outs are terrible for your business. When a customer wants to buy an item from you and you don’t have stock
- You are losing the sale of the product
- The customer may decide to buy their whole basket of products from your competitor
- Your competitor may give your customer great service, and now you’ve lost a customer for life
Don’t fight fires because you don’t have the right inventory
Imagine how many more sales you could make if you always had the correct inventory when your customers ordered it? You would immediately see the improvement on your bottom line.
It’s much easier to keep an existing customer than to find new ones. The easiest way to keep your customers is to provide great service on the items that they want.
So how does NETSTOCK do it?
The only way to keep on top of things is with focus:
- the dashboard KPI tracks your service levels and stock outs so you can monitor how you are improving
- the exception lists highlight the worst offenders, enabling you to focus on items that are having a big impact on your business
- Track your Fill rate against your target fill rate
- Quickly drill into the items with the worst fill rate
- Make sure you’re heading in the right direction
- Review items where you are selling more than the forecast before they stock out
- Track the exact amount of lost sales because of stock-outs
- Drill-down into the worst offenders, so that you can take immediate action
- Sometimes it is better to buy the stock at a higher cost than to run the risk of losing a customer
- Make more sales because you have the right inventory in the warehouse
- Get early warning of items that will stock out, before they affect your fill rate
- Procure those items as soon as possible to prevent potential lost sales
- Prevent future fill rate issues
“We use NETSTOCK every day to get a snapshot of our inventory; fill rates, stock outs and forecasts, helping us to set realistic goals for all aspects of our business. We can’t live without it!”
See full case study.
Josh Eaton, Starleaton Digital Solutions