RSi and CROSSMARK Announce Launch of One-of-a-Kind Offering to Solve Major Out-of-Stocks Problem
Retail industry benchmarks consistently cite out-of-stocks (OOS) rates of 8-10% for non-promoted products, and 10-15% for promoted items. As a result, OOS problems cause an estimated $130 billion in annual lost sales in the US retail industry alone. Retailers and CPG suppliers have long attempted to address the OOS issue through a variety of measures involving people, processes and technology, but these efforts have fallen short because of a lack of end-to-end integration.
Retail Solutions, Inc. (RSi), the global technology provider for CPG manufacturers and retailers, and CROSSMARK, a leading sales and marketing services company, today announced the launch of OSA360, the first end-to-end offering enabling CPG manufacturers and retailers to solve the massive OOS problem.
By combining RSi’s proven on-shelf alerting technology with CROSSMARK’s unparalleled in-store services and execution support, OSA360 finally closes the “technology/execution” gap to give retailers and CPGs significantly faster and more effective action on OOS alerts. This creates satisfied, loyal shoppers, leading to substantial increases in recaptured sales and higher profits.
Other key benefits that OSA360 will provide to retailers and CPG manufacturers, include:
- Optimized supply chain, including significantly increased aggregate OSA percentages
- Unified vendor OSA scorecard, giving you benchmarks to improve supplier performance
- Increased innovation success, including better launches
- Smoother rundown compliance
- Increased supplier satisfaction, through faster OSA alert response, improved display and innovation management, and a complete ROI model across analytics and labor
- For retailers, greater customer satisfaction and loyalty
Based on industry research, RSI and CROSSMARK estimate that sales can increase by at least 1% for every 3% improvement in OOS performance, which has the potential of doubling growth for many retail industry segments.
To learn more about this breakthrough OSA solution from RSi and CROSSMARK, read the full press release here.