Retail is a dynamic and complex branch: the number of product introductions is continually increasing, the pressure on product promotion is huge, and turnover is spread out over multiple locations and channels.
Consumer expectations are completely different than they were only a few years ago. For instance, shopping is increasingly interactive, dynamic, and social: the boundaries between physical and online shopping are becoming less distinct. As a result, many retailers are struggling with their inventory management: an item can sell out in one shop, but still be available in another. To solve this, Marello ensures that your inventory level is sufficient and available in all channels by providing you with at-a-glance control over what’s in stock where.
Helping retailers to always have a balanced inventory, that is our goal.
Inventory Management is the management of inventory and stock levels. It is an element of supply management in which purchasing inventory, storage and controlling the amount of product that is for sale are key. Simply put, inventory management is about having the right amount of inventory at the right time and place. Marello has many features that make managing inventory levels easier.
A well-known problem in inventory management is distressed stock. Distressed stock consists out of products that have passed the point where they can be sold for the normal price, that can turn into dead stock that cannot be sold anymore. Having distressed stock leads to a loss of revenue. Products end up getting thrown away or take up valuable storage space, driving up costs.
Distressed stock is the outcome of a mismatch between inventory levels, supply, and demand. With Marello it is easy to find out how mismatches can be avoided.
By using the reports and segments tool, insights into optimal inventory levels can be acquired. Through the analysis of comprehensive data inventory purchases can be altered, lowering the chances of distressed stock.
Next to having too much stock, there is the possibility of not having enough stock. In inventory management, it can be hard to know exactly how many products are available for sale. Items can be sold but still show up in stock levels (for example because they have not been shipped yet). This may lead to selling products that are already sold, resulting in longer delivery times and disappointed customers.
The solution is to have an inventory management system that shows real-time stock levels. Marello gives access to information about real stock (stock that is physically present), allocated stock (reserved stock) and virtual stock (stock that is available for sale).
By knowing real-time stock levels, new stock can be purchased before the inventory is empty.
A comment that is often heard is that inventory management systems are too complicated. The problem with many software solutions is that they are not very user-friendly. That is why Marello has spent a lot of time on its interface design. The dashboard, as well as the menus and tools, are designed on an intuitive base. In that way, even the non-digital-savvy user will be able to work with all the functionalities right away.