Author: Matt Leonard
Source: Retail Dive
- A survey of corporate retail professionals conducted by Wakefield Research and Bossa Nova Robotics found 73% of respondents consider inaccurate forecasting "a constant issue" for their store. Another 66% said the same for price inaccuracy, and 65% said they struggle with the ability to track inventory through their supply chain, according to the report, which was emailed to sister publication Supply Chain Dive.
- It also found that 87% of respondents consider inaccurate inventory a larger factor in revenue loss than theft. The survey has a sample size of 100, a margin of error of 9.8% and was conducted online.
- What companies should do about this was less clear from the survey results. It found 67% of retailers agree that analyzing inventory is not an effective use of employee time, but 70% also agree automating the monitoring of on-shelf conditions is not worth the investment. It did find that 74% of retailers think robots, if used in their stores, would increase inventory accuracy.