Inventory management is critical to preventing out-of-stocks and keeping displays accurately stocked. However, many retailers continue to have employees count inventory manually, which can take hours — or sometimes days — to complete. This not only hinders employee productivity, but also increases the likelihood that retailers will either experience a product surplus or deficit.
To successfully address inventory inefficiencies, Tyco Retail Solutions is offering the TrueVUE Inventory Display Execution. The application is fortified with RFID technology, which can help retailers improve process efficiency, inventory visibility and compliance of product displays.
Saks Fifth Avenue deployed the solution in September 2013 at its New York City flagship location. Following the implementation Saks reported nearly 100% display compliance at its 8th floor shoe display up from 65%, according to Tyco.
TrueVUE Inventory Display Execution also was created to help associates count display items quickly and easily, and generate reports on any missing or misplaced items. Benefits of TrueVUE Inventory Display Execution include the ability to:
Reduce time required for display counting and restocking;
Reduce overstock conditions and markdowns; and
Decrease labor costs.
“Retailers continue to face significant challenges as they try to improve inventory accuracy and visibility within the store environment,” said Scott Clements, President of Tyco Retail Solutions. “For organizations considering RFID applications, our new Inventory Display Execution application allows them to test the technology and prove immediate value with minimal risk and upfront requirements.”