Deliver consistent inventory across channels
Whether a customer is ordering a product to be delivered, shipped to a store, or picked up from a store, the retailer has to be able to fulfill the order. Many retailers still have disconnected systems managing product inventory for different channels, leading to issues with the customer experience and operational efficiency. Implementing a truly omnichannel service featuring seamless integration with the digital customer experience and fulfillment platform can remove friction points across all processes.
HIGH PERFORMANCE AND ACCURACY
Provide real-time access to enterprise inventory
Accurate and real-time information about inventory is crucial to ensure customers get the information they need on the products they want to buy. It also helps minimize order cancellations, avoids overstocking, and increases inventory turnover. Many retailers traditionally implemented enterprise inventory management as a part of wider order management systems. But the problem with these types of systems is they weren’t built to serve the high traffic volumes experienced on digital customer experience platforms. Replatforming to a unified enterprise inventory system solves this issue, providing real-time and up-to-date information.
Modernize monolithic fulfillment systems
While legacy monolithic platforms had duplicate information services as a part of the digital customer experience platform, fulfillment platform, and in-store platform, microservices architecture allows for a single, centralized inventory service. Microservices architecture and composable commerce principles ensure efficient integration with other services and decrease time to market for delivering new business features.
Optimize delivery costs
With the introduction of “ship to store”, “ship from store”, “buy online pick up in-store” fulfillment models and their variations, calculating optimal order sourcing is becoming increasingly complex. If a retailer has hundreds or thousands of stores, legacy systems and algorithms may not be able to solve this problem in an optimal way. Modern inventory management systems are built with omnichannel smart sourcing in mind and can do it far more efficiently.
SAFETY STOCK OPTIMIZATION
Increase inventory turns with AI
Omnichannel fulfillment models created new challenges for inventory planning in stores. While it’s beneficial to sell online inventory that doesn’t sell out in stores, overselling in-store inventory can lead to an increase in stock problems and customer dissatisfaction. To avoid the problem, we augment the inventory management platform with AI-powered software that features safety stock optimization algorithms.
Take advantage of the cloud
Cloud-native architecture has become a necessity for any modern system. With digital commerce platforms and fulfillment platforms deployed in the cloud, inventory management systems have to support cloud deployment as well. Our inventory management solution is built with cloud-native technologies and supports all major cloud providers.
How does our inventory management solution work?
For the last 10 years, we’ve been helping Fortune-1000 retailers, brands, and CPG companies modernize their inventory management capabilities to deliver an omnichannel commerce experience. Our goal has always been to build a truly unified platform that can provide an accurate view into the enterprise inventory, can serve the digital and in-store customer experience, and handle availability updates in real-time.
In addition to operational support of inventory management, we provide state-of-the-art algorithms for smart order sourcing to optimize shipment cost and time. We use AI-powered safety stock optimization software to balance demand and inventory utilization between in-store and online orders.
Building an e-commerce omnichannel inventory solution with open-source
In this article, we describe the challenges that modern retailers face with omnichannel inventory management. We show a blueprint with reference architecture and approach to modernizing inventory management capabilities in two steps.
Will “Database as a Service” work for retail inventory management?
This article focuses on using the cloud database as a service technology to implement an omnichannel inventory management platform. We evaluate technologies from three major cloud providers (GCP, AWS, and Azure) from functional and performance perspectives and explore their viability for the use case.
Safety stock optimization for ship-from-store
In this article, we describe the inventory optimization problem for the buy-online, pickup-in-store and ship-from-store use cases and provide a case study that shows how stock levels can be optimized in real-life settings using machine learning methods.
Accelerate your inventory management implementation
We provide flexible engagement options to design and build omnichannel inventory management, order sourcing, and optimization platforms augmented with innovative AI capabilities. Clients take advantage of our starter kits to increase their speed to insights and reduce risks. Contact us today to start with a workshop, discovery, or PoC.
We offer free half-day workshops with our top experts in inventory management and optimization to discuss your omnichannel inventory strategy, challenges, optimization opportunities, and industry best practices.
Proof of concept
If you’ve already identified a specific use case for inventory management modernization, we can start with a 4–8 week proof-of-concept project to deliver tangible results for your company.
If you’re in the early stages of modernizing an inventory management platform or implementing AI capabilities, we can start with a 2–3 week discovery phase to perform gap analysis, design your solution, and build an implementation roadmap.
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