5 Tips to Improve Supermarket Inventory Management
If you’re running a supermarket, you know that managing grocery retail supply chains isn’t easy. First, you’re dealing with a vast inventory that includes perishable goods. This type of inventory requires constant monitoring to avoid spoilage. With short-lived products, you want to keep your stock fresh at all times. Besides maintaining their quality, displaying fresh products on your shelves helps to attract customers, encouraging purchases.
We have compiled the best supermarket management practices to boost your results and avoid inventory loss. See if you can apply them to your business!
Use a dynamic approach between fresh and shelf-stable products
As mentioned earlier, you’d want to display fresh products at all times. The problem occurs when there’s no proper shelf planning, creating spoilage costs and leaving a bad impression on customers. By serving both fresh and shelf-stable products equally, it’s easier to create an appealing display while making the inventory cost-driven.
To do this, you need to have accurate inventory visibility. Advanced Stocktaking Services is an Australia-based stocktaking company that provides inventory stock take services. As the leader in barcode stocktaking, our team is ready to improve your grocery inventory management.
Build awareness of shelf-stable products
Forecasting customers’ demands can be done by analysing their buying behaviours. However, there’s still a risk of overstocking or understocking fresh and shelf-stable products. This is why you need an intelligent POS to keep track of products’ expiry dates and real-time value.
Our retail stocktaking services for convenience stores include stock valuation and free POS update with every stocktake. You can filter products based on their expiry dates, allowing your team to know which products need to sell first. As a result, you get to minimise spoilage costs and optimise your storage space.
2. Restock products in inventory based on group
If you take a closer look at your customers’ buying behaviour, you’ll notice that they prefer certain brands over the others. It’s why those brands tend to run out faster. However, if you don’t have those popular brands in stock, customers will consider buying an alternative brand that sells the same product. This behaviour is particularly apparent in perishable daily-use products like milk and butter.
Understand how products work in groups so you can decide whether to restock based on brand or group. For instance, this method doesn’t apply to personal care items like soaps and shampoos.
3. Use an inventory management software
This goes without saying, but consider switching to the digital method if you haven’t. It reduces the risk of error and increases your inventory visibility. Real-time inventory data makes for sound business decisions, leading to more revenue and better branding.
Advanced Stocktaking Services is a leading provider of stocktaking services to all types of businesses across Australia. Give us a call if you want to optimise your inventory management with our high-end stocktaking solutions.