Grocery Inventory Management: Keep In-Demand Items In Stock

Having the right items on the shelves is table stakes for operating a successful grocery business. Although some consumers are embracing online ordering, a survey by Chain Store Age found that about 80% prefer to shop in-store. And for 74% of shoppers, product availability is the top priority when deciding where to shop. To meet consumers’ demands and build loyalty, independent grocers need a grocery inventory management system that bases order timing and quantities on customer behaviors, product availability, and current opportunities. 

Intelligent Grocery Store Management Software Tells You What Your Customers Want

Any grocery inventory management system can show you how many items you received and how many you sold. However, meeting or exceeding your customers’ expectations takes more insight. An intelligent grocery store management system can help you understand what motivates your customers to come to your store. 

For example, intelligent grocery inventory management software can identify items that your loyal customers commonly have in their baskets. You may find that those aren’t high-margin items, but they are must-stock foods and products that keep your customers coming back to your store. The right grocery store management system will also empower you to analyze your data to understand seasonal trends, forecast changing demand, and maximize revenues throughout the year. 

How Independent Grocers Can Direct Products to the Right Place at the Right Time

Orchestrating a complex supply chain is a challenge, and it’s even more stressful if your grocery business includes multiple locations. Individual stores often have their own distributor and direct-store delivery relationships, which help control costs with local shipping and opportunities for volume or limited-time deals. 

An intelligent grocery inventory management solution with computer-assisted ordering features will ensure you place orders on time based on the vendor’s policies and timelines. An intelligent grocery store management system also helps you avoid a crisis if a particular vendor can’t deliver. The system can help you find an alternative supplier that will deliver the items you need on time and at the best cost. 

Grocery inventory management software can also give you a global view of your inventory to help you make smart decisions about moving items within the store and about store-to-store transfers. Your software can allow you to maintain visibility into item locations and their movements for accurate tracking. 

Tracking Inventory from Receiving to Sale 

Independent grocers will find a range of benefits from using hardware-agnostic software. When it comes to grocery inventory management, using the same solution on mobile devices allows your team to update data in real time from receiving and slotting to stocking shelves and inventory counts. The flexibility to configure screens for inventory management roles makes it easy for employees to collect and update data accurately. You can also manage inventory in ways that make the most sense for the items, i.e., by unit, case, or weight. Your grocery store management system will also give you tools that streamline invoice reconciliation and tracking returns to suppliers. Granular inventory data will also benefit your team in the event of a product recall. Accurate data allows you to find and collect items by lot number and quickly remove them from shelves. 

Your software should help your grocery business optimize experiences for shoppers who engage digitally. Ensuring accurate inventory data on your online ordering platform helps customers make informed decisions and avoid frustration when you can’t fill their orders with the items they want. 

Minimize Food Waste and Shrinkage

Data from ReFED shows that 80% of food waste comes from perishable foods. Minimizing that waste—and that financial loss—is vital to independent grocers. However, the complexity of managing produce, meats, bakery, and other perishable items is hard for grocers to overcome with legacy software. 

Give your grocery business the advantage of software that accounts for variances in shelf life and storage conditions that impact freshness and food safety. Intelligent software also helps you order the right quantities at the right time and to control orders of specific food categories. Your software can also help you minimize losses by setting inventory thresholds that help you move products quickly.

Intelligent Software Makes Accurate Grocery Inventory Management Possible 

Optimizing retail success in the complex grocery industry requires a smart solution that allows you to make the best use of your data and make informed decisions. Computer-assisted ordering and AI-enhanced features help you understand customer behaviors better, optimize purchasing to keep in-demand items on the shelves, and minimize waste. Software specifically designed to help you operate successfully will also give you visibility into inventory and its movement from receiving to sale. 

ThriVersA has the features that help independents manage grocery inventory like their larger competitors to meet consumer demands and build customer loyalty while controlling shrinkage. Contact us to learn how ThriVersA can help you move closer to reaching your business goals.