Analyticalways: 7 keys to create a successful omni-channel stock strategy

In the new Retail, omnichannel is a fact. With the pandemic, the online channel has become much more important, adapting to the needs of the moment. However, this does not mean that physical shops are going to disappear. In fact, many retailers are opening new centres, but with a different concept adapted to the new needs and shopping habits of consumers. In terms of stock management, omnichannel is based on having a single stock that customers can consume from any channel.

Why is omnichannel so important?

• Avoid losing sales opportunities
• Reduces logistics costs
• Increases customer satisfaction

If there is one thing that is of concern in terms of omnichannel management, it is the efficiency of all sales channels. Analyticalways, a leading technology company in stock management, has developed the 7 fundamental keys that every retailer must consider in order to manage all channels with guaranteed success.

1. Have a clear strategy
2. Use predictive technology to obtain a more accurate and rigorous demand forecast to speed up decision making.
3. Focus on the customer. Study the behaviour of clients in all sales channels and understand their consumption habits.
4. Segmentation of consumption areas. Group sales outlets by clusters based on consumer profile.
5. Integrate all the agents operating in the value chain. All departments must be aligned with the company's omnichannel strategy: sales team, marketing department, logistics, operations...
6. Know the logistical possibilities of the company. It is very useful to have last mile centres and BOPIS (buy online pick up in store) as a support to save on logistics costs and reduce delivery times.
7. Measure, learn and correct. What is not measured cannot be improved. Measurement requires key indicators, both to evaluate operations and to identify the source of problems.

Applying these keys makes it possible to be more competitive in the operation, which ends up having an impact on being more competitive in the price of the product, as the operational cost is reduced, meaning that the company's profit is more closely linked to the commercial margin.

Analyticalways covers 360º of the omnichannel stock management process: planning, shop cluster, assortment, purchasing, initial introduction, replenishment and transfers. Its Artificial Intelligence helps to achieve a more efficient omnichannel stock that reduces lost sales and eliminates overstock of unsold products. The differential value lies in the consultancy team, expert retail professionals who accompany customers on a day-to-day basis, becoming an additional member of their teams.

"It's not just about having the right technology, the key is to get the maximum benefit from it", Amancio Junior, CEO of Analyticalways.

Find out more about Analyticalways here: here