25 Nov Delivering both increased sales and significant cost savings for convenience stores
We now have a number of convenience customers running their retail stores using ab-initio’s sophisticated stock management features.
The advanced forecasting and auto replenishment capabilities of ab-initio are further proving themselves to be vital for convenience store chains to achieve significant cost and time savings.
The advanced forecasting function combines historical sales data and employs intelligence on seasonal trends to predict and manage stock availability. The real-time collaboration capabilities of the application enables the store manager to make recommendations (forecast overlays) based on local knowledge to improve stock availability. This could be, for example, a forthcoming sporting event near the store.
The powerful auto replenishment functionality covers every category of stock going through the store – from slow moving to fast moving stock, and ambient through to chilled and short-life products.
The result for the retailers running auto-replenishment are numerous.
The store management teams are now freed up from administration and repetitive manual ordering tasks to focus on increasing sales and serving their customers better. Sales are increased though better stock availability, resulting in improved customer satisfaction as customers can buy the products they want, and the reduced stock holding leads to better margins.
Every retailer benefits from by simplifying processes and relieving staff of manual, repetitive tasks, which can be error prone.
Some of the most recent results of Celtech’s customers using ab-initio’s auto stock management functionality include:
- Stock investment reduced by c. 8%
- Service levels increased by c. 5% on chilled products (short-shelf-life)
- Sales increased by c. 6% (like-for-like)
- Margin increased c. 12% year-on-year