Invent Analytics Publicizes Availability of the Phantom Inventory App
Invent Analytics, an award-winning world retail planning options supplier, proclaims the newest addition to its suite of clever retail provide chain options: the Phantom Inventory cellular app. Whereas Invent Analytics has lengthy supplied phantom stock detection as an add-on service, it’s now providing the identical data-driven insights to new and current purchasers by means of the stand-alone app. The Phantom Inventory app leverages the facility of synthetic intelligence (AI) to detect discrepancies between stock information and bodily stock in shops, serving to retailers scale back misplaced gross sales, increase buyer satisfaction, and maximize profitability.
“In retail, stock accuracy is essential. It impacts all the pieces from forecasting and planning to gross sales and buyer satisfaction,” stated Gurhan Kok, Founder & CEO of Invent Analytics. “Nevertheless, retailers typically wind up with phantom inventory, the place stock information don’t match what’s really obtainable on the shop shelf. This may very well be brought on by mistaken shelf placement, pricing discrepancies, product injury, information entry errors, or some other human error. Our Phantom Inventory app helps retailers spot and remedy these points quick.”
The Phantom Inventory app is an easy-to-implement, user-friendly answer that runs on any smartphone. Utilizing AI and machine studying algorithms, the app analyzes a retailer’s demand forecasts, gross sales information, and stock information to precisely predict and determine stock inaccuracies. The app generates weekly alerts for particular person retailer areas, itemizing suspected phantom stock points on the SKU stage. The app additionally quantifies how a lot gross sales will enhance by resolving the problems. Retailer managers can entry the alerts at any time and rapidly examine every merchandise on the checklist, prioritizing alternatives with the largest affect.
Extra advantages of the Phantom Inventory app embody:
-Pricing accuracy: Retailers can guarantee costs, labels and reductions are right and constant throughout shops.
-Time financial savings: Retailer managers can scale back the effort and time spent fixing stock errors
-Misplaced gross sales discount: With the correct variety of SKUs in the correct place, shops seize each sale.
-Buyer satisfaction: Shops will delight buyers with available, in-demand merchandise.
-Profitability: Through the use of the app, Invent Analytics’ purchasers enhance their backside line by a mean of two%.
“The muse of our firm is constructed on serving to giant world retailers maximize income,” stated Kok. “We’ll proceed to introduce revolutionary options designed to enhance their backside line behind the scenes—in addition to create higher buying experiences that maintain clients coming again time and time once more.”
About Invent Analytics
Invent Analytics is a worldwide retail planning options supplier that helps main retailers speed up their omni-aware demand forecasting, allocation, replenishment, and markdown capabilities utilizing monetary revenue optimization mannequin and AI-based superior analytics.
Invent Analytics has been named as a consultant vendor in Gartner 2022 Market Guides, together with Retail Forecasting, Allocation and Replenishment Options and Retail Unified Value, Promotion and Markdown Optimization Purposes – Brief Life Cycle.
