Increase revenue and margin by having the right product in the right place at the right time.
Make best practices the path of least resistance with ResaleAI Backstock.
Having the right product in the right place, at the right time, and at the right price. That’s the goal isn’t it? In our businesses, it can be particularly hard to do because we buy merchandise when our customers want to sell it to us, not necessarily when we want it. Then, we can only sell it when customers are ready to buy it. ResaleAI can help in ways nothing else can.
Stop misplacing bins of back stock.
Maybe they were mixed in with bins of another subcategory or they were in a different storage location than you thought. Then when you find them, the season has passed. Or you only discover them AFTER there was a big hole in the rack that needed filling. Of course the absolute worst is finding missing bins after you just clearanced even newer inventory. With RAI on your team this problem is history because ResaleAI keeps track of every bin in all backstock locations, onsite or off.
Keep the floor stocked.
You check your email and see that the store had huge sales on Friday, but that no bins were pulled from back stock the whole day. From your phone, you add a task on the daybook for Saturday morning to “find the holes in the racks and restock first thing”. A quick check of RAI from your phone the next morning shows that backstock is being pulled. Dig deeper and see if the closing manager from Friday is focused on keeping the floor stocked by flipping back through the Daybook to see that manager’s shifts. Coach as needed. Repeat.
Just part of a ResaleAI nightly email
Align your back stock with your clearance cycle.
Have the up-to-the-minute, interactive Aged Backstock Report (see a screen shot below) at your fingertips at all times. Use it to set tasks on the Daybook for future days to adjust the floor. Get your back stock on the floor at the time when customers want to buy it – and more importantly – when they want to buy it at full price.
Keep your backstock tracking accurate.
In our stores, we have always audited our back stock periodically. In time past, we checked those little slips of colored paper on the front of the bin against a spreadsheet. With the spreadsheet we tried to keep track of how many, how old, and where bins were located. We found many, many errors. The ResaleAI Backstock system helps us make far fewer errors. With a day-to-day process that is so much simpler, there are far fewer errors. We heard from one RAI user that after switching to RAI Backstock, their bin error rate fell more than 66%.
With RAI Backstock every bin has gets a permanent bin number. Bins are arranged in rough numerical order in each storage location. All information about the bin is kept in RAI, including what type of merchandise, the age, the location, any special notes, and the history. To make locating them easier, bins are sorted in general numerical order without regard to subcategory. The time savings of locating bins with this method over what we used to do, is significant.
How much would your revenue and margin increase? Would even a fraction of a percent change your profitability?