As we post the fourth part of my extended conversation with Randy Fields, chairman/CEO of Park City Group, about the Out of Stocks issue, there is some news to share…
FMI-The Food Industry Association has announced that it is endorsing ReposiTrak’s OOS Management Solution to address the grocery industry’s long-term and growing problem of out-of-stocks.
“The FMI 2019 Supply Chain Benchmarking Study showed that most grocery retailers are now missing internal store service-level targets, as reflected by lower on-shelf product availability,” said Mark Baum, FMI’s Senior Vice President Of Industry Relations and Chief Collaboration Officer. “Given that grocers need more actionable information to maintain product shelf availability, we’re pleased to support the ReposiTrak solution and work together as it will help our members take steps to improve on-shelf performance.”
This announcement underlines the point of this series of podcasts - that the age-old problem of out-of-stocks has become more acute for the grocery industry - Randy Fields call it an "existential threat" - as food retailers struggle to find the right tradeoff between inventory and service levels.
Park City Group has crafted an effective response to the problem - the ReposiTrak OOS Management Solution - for which there is definitive and provable ROI in terms of sales, profits, and customer retention.
You can find out more about the ReposiTrak OOS Management Solution by clicking here.
- KC's View: