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The Datascan Blog

How Do Inaccurate Inventory Records Cause Lost Sales?

We now know that counting more often lifts sales by up to 14% (see “Do Inaccurate Inventory Records Really Impact Sales?”). Exactly how does this work? By increasing product availability and customer satisfaction. Retailers strive to have the right product in the right place at the right price and with the right promotion. Customers return […]

Do Inaccurate Inventory Records Really Impact Sales?

For retailers, counting stock is a chore and requires a sizable investment in labor. Aside from annual audit requirements, is stock counting really necessary? Are accurate inventory records really that important? Since 2018 my role at Datascan has had me exploring the concept of inventory record accuracy. I’ve long searched for a reputable study on the sales […]

Does Inventory Record Accuracy Differ by Market Segment?

Does inventory record accuracy differ by Market Segment? You bet it does! Many factors are responsible for differences in inventory record accuracy between market segments. Higher value items are more attractive theft targets, but also justify higher investment in anti-theft controls. Items with high sales velocity experience increased transactions (receipts, sales, returns, transfers, and adjustments), each of […]

Another Inventory Accuracy Formula

In a previous article we discussed how Datascan’s preferred inventory accuracy percentage calculation relies on the absolute unit difference to describe how far the inventory records are from reality. The ECR Community and the RFID industry prefer a formula based on SKU integrity, which treats all inventory unit adjustments with the same weight. In this article, we will […]

Inventory Accuracy % Is Not Enough

Inventory accuracy percentages can be misleading! We already know that inventory accuracy is a very important metric for retailers, measuring how closely system records reflect the actual units found in stores. But did you also know that a straight inventory accuracy percentage stating that inventory records are 75% accurate is missing a very important piece […]

What is Inventory Accuracy?

Just what does inventory accuracy mean in a retail environment? How is it calculated? Why is it important? These are a few of the questions I will answer in upcoming articles. Together we will dig deeper into the gory details in the coming weeks. Accurate inventory records are crucial for a successful omnichannel strategy. Inaccurate […]

Retail-to-Go Requires Accurate Inventory

“Retail-to-go” is a new buzzword - it’s essentially the curbside pickup of items your customers purchase online.  Like every other online purchase, retail-to-go requires a high level of inventory accuracy for smooth execution.  And as you're well aware by now, COVID-19 has forced retailers to rely on their omnichannel capabilities like retail-to-go in order to survive. When […]

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