After reviewing the Velocity WOS exception reports, the retailer and supplier collaboratively identified items at specific stores which were out-of-stock (OOS) or had low WOS, and store-specific orders (SSOs) were sent the same day to improve in-stock levels.
One standard Velocity dashboard resulted in incremental sales growth of 116% for that week.
Coupled with full access to store-level or territory-level information, this has enabled them to be the 'go-to' source for sales reporting.
By identifying each store's high turn items, as well as its slow moving products, and as a result, recommending needed changes in the product mix or inventory levels, they help themselves and their retail customers.
They also had the facts they needed to approach other chains.
Since then, the program has been implemented by 85% of their top retail customers.
Before partnering with Retail Velocity, a sporting goods supplier found that direct POS data was very hard to collect, cleanse, and harmonize in a timely manner in order to improve on-shelf availability and reduce out-of-stocks (OOS), returns, and markdowns.
VELOCITY®’s retail execution optimization changed all that!
Their VP of Sales stated that "VELOCITY® gives suppliers the tools they need to manage their direct POS data, perform trouble-shooting, and resolve problems quickly.
We use VELOCITY® to pull exception-based reports for out-of-stock, on-shelf availability, etc., and use that information to work more effectively with service companies, buyers or even store managers.