Shoppers encounter an out-of-stock (OOS) as often as once in three shopping trips, according to IHL Group research. On-shelf availability (OSA) is the single biggest challenge in Retail. Retailers are missing out on nearly $1 trillion in global sales because they do not have on-hand what customers want to buy in their stores.
According to ECR, a 2% improvement in on-shelf availability is worth 1% in increased sales for retailers. The impact of OOS is not limited to just loss of revenue, but also a loss of loyalty and share and others:
Tredence is focused on solving the last mile problem in analytics and works with the largest retailers on the planet to understand the nuances of modeling out-of-stock (OOS) to develop on-shelf availability solutions.
Tackle out-of-stock (OOS) with our on-shelf availability solutions to fuel customer experience and sales growth
To identify historical out of stocks, predict potential future out of stock risks, and create automated out of stock alerts for field personnel. The accelerator is a robust foundation of best practices, quick-start guides and notebooks for a full out-of-stock or supply chain solution.
Promotes real-time out-of-stock alerts, enables retailers to optimize on-shelf availability and identifies root-cause drivers of out-of-stock to improve day-to-day sales. The accelerator helps examine the probability of out-of-stock events, flag off-sales events and drive more sales with on-shelf availability.
Maximize the value of every shelf with AI-powered stock-out alerts and improve on-shelf availability and prioritizing action.
Increase your knowledge of Databricks best practices and advanced ML modeling techniques with our advanced training modules.
Why choose us?
Quantify the business value to improve on-shelf availability
Automated and accurate out-of-stock alert models
Equip retail associates to act quickly and replenish shelves