Comprehensive stock management solution
Retailers can benefit from Priority’s sophisticated stock management features, which enable efficient inventory control and management. This can help free up valuable warehouse space, optimize cash flow, and prevent the accumulation of outdated or unmarketable inventory. By using Priority, retailers can set and execute replenishment strategies, balance keeping an adequate stock of goods, raw materials, and merchandise to satisfy customer demand while minimizing inventory expenses. In addition, retailers can effortlessly access real-time sales performance and inventory data for all their physical and remote stores.
Gain a complete, real-time overview of your company’s inventory
- Have a constant awareness of the location, quantities, and storage details of your items at any given moment.
- Maintain accurate counts of all the stocked products.
- Make informed business decisions by utilizing current inventory levels (e.g., increase sales of a particular item, offer discounts, etc.).
Reduce your inventory costs
- Prevent incurring hidden expenses due to overstocking, out-of-stocks, and preventable returns.
- Analyze sales performance, identify top-selling items and stores, and procure optimal quantities of items for specific stores or warehouses.
- Detect sluggish-selling items, reorganize warehouse and store/website displays, and create cross-sales and upselling offers to promote these items.
Optimize your replenishment strategies
- Create inventory plans for stores that consider potential supply-and-demand imbalances.
- Automate replenishment processes, guarantee high-demand items are in stock, and distribute them intelligently to the appropriate locations based on past sales volumes and projected demands.
- Minimize or eliminate human intervention, manual configurations, errors, and fraud.