ReposiTrak Enables Accurate Perpetual Inventories for Grocery e-Commerce

Rhea-AI Summary

Park City Group (NASDAQ: PCYG) has introduced an omnichannel perpetual inventory system through its subsidiary ReposiTrak. This system addresses the significant challenge retailers face regarding visibility in store-level inventories, particularly for direct store delivery (DSD) products. The lack of visibility has resulted in high out-of-stock levels, affecting customer satisfaction. ReposiTrak's solution has reportedly led to sales increases over 50% for its clients by ensuring product availability both online and in-store, offering a critical tool for retailers aiming to enhance their e-commerce strategies.

Positive

• ReposiTrak's perpetual inventory solution has led to sales increases exceeding 50% for customers.
• The system provides retailers with improved visibility of store-level inventories, reducing out-of-stock scenarios.
• The introduction of this solution is timely as e-commerce becomes crucial in retail strategies.

Negative

• Retailers face significant challenges with high out-of-stock levels due to inadequate inventory visibility.
• The reliance on outside suppliers for DSD inventory control creates additional complexities.

To help retailers deliver on the key proposition of grocery e-commerce—namely, frictionless convenience—ReposiTrak, the industry leader in direct store delivery (DSD) for the retail supply chain, is offering an omnichannel perpetual inventory system that ensures products selected online are actually available in the store.

The ramp up of ReposiTrak’s perpetual inventory solution comes at a time when brick and mortar stores have morphed into e-commerce fulfillment centers. However, the lack of visibility to store-level inventories for key categories, particularly high demand, fast turn DSD products, finds many retailers at a major disadvantage in meeting customer expectations due to high out-of-stocks levels, says Randy Fields, chairman and CEO of ReposiTrak.

“While COVID has created the most compelling case imaginable for retailers to accelerate their omnichannel strategies, it has also exposed a glaring weakness relating to lack of visibility to store-level inventories,” Fields says.

“At its core, online grocery ordering aims to deliver convenience for the customer, but all too often leads to a series of text message substitution requests because DSD products like bread, milk and dairy are out-of-stock, and the e-commerce system is blind to that fact. In order to effectively implement an omnichannel strategy, a DSD perpetual inventory system is essential,” Fields affirms.

Direct-store delivery products pose particular challenges for personal grocery shoppers, primarily due to the lack of visibility retailers have with their DSD inventory, which is typically controlled by outside suppliers.

More Control + Greater Accuracy = Perpetual Inventories

“But as any astute retailer knows, less control leads to more inaccuracies—which is even more problematic at a time when retailers are jockeying to meet and exceed increasingly demanding expectations of a new breed of crowd-avoiding, convenience-seeking omni-shoppers,” says Fields.

“Out-of-stocks not only create disappointment for the customer but lost sales for both the retailer and the vendor as well,” he adds, noting that ReposiTrak’s omnichannel perpetual inventory solution extends the company’s extensive track record in DSD, which includes some 60 million store SKU counts. ReposiTrak’s customers are seeing sales increases that often exceed 50% because the customer and the retailer have the product on-hand and visible online.

“DSD out-of-stocks are something ReposiTrak knows really well—we’ve been dealing with it for over 20 years—and have pioneered unique capabilities to solve what is presently one of retailers’ biggest challenges,” concludes Fields.

Learn more about ReposiTrak’s perpetual inventory solution here.

About Park City Group and ReposiTrak®

Park City Group (NASDAQ: PCYG) is a Software-as-a-Service (SaaS) provider that brings visibility to the consumer goods supply chain through its industry-leading ReposiTrak Inc., subsidiary. ReposiTrak has three product families—Compliance and Risk Management, Supply Chain Solutions and MarketPlace sourcing and B2B commerce—and provides retailers and suppliers with a robust solutions suite to help enhance operational control and increase sales while enabling them to protect their brands, reduce risk and remain in compliance with regulatory requirements. More information is available at repositrak.com and parkcitygroup.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201217005664/en/

FAQ

What is Park City Group's new offering related to inventory management?

Park City Group has introduced an omnichannel perpetual inventory system via ReposiTrak to improve visibility of store-level inventories.

How has ReposiTrak's new system impacted sales for its customers?

Customers using ReposiTrak's inventory solution have seen sales increases often exceeding 50%.

What challenges do retailers face with direct store delivery products?

Retailers struggle with high out-of-stock levels due to a lack of visibility in store-level inventories for DSD products.

What is the significance of ReposiTrak's perpetual inventory solution for retailers?

The solution is essential for retailers to effectively implement their omnichannel strategies and meet customer expectations.