Agilence Unveils New Inventory Module to Improve Retail Stock Clarity
New analytic module combines inventory and sales data to help retailers detect shrink and improve customer experience to combat $1.77 billion inventory distortion problem
MOUNT LAUREL, N.J., November 1, 2023 (Newswire.com) - Agilence Inc., the leading loss prevention analytics provider for retailers, grocers, and restaurants, today announced the launch of its new Inventory Module. The module provides a purpose-built add-on to the Agilence Analytics platform that revolutionizes the way retailers address stock management, providing users greater insight into their inventory.
The module merges inventory shrink data seamlessly with point-of-sale (POS) information to provide insight into on-hand levels and periodic adjustments, inventory buildup, lack of replenishment, and more. Now, retailers can proactively detect inventory discrepancies and internal theft, while gaining deeper insights into individual store performance. The Inventory Module powers retailers’ ability to make informed decisions regarding stock levels, replenishment strategies, and store operations, ultimately contributing to enhanced profitability and improved customer experience.
"For retailers to provide the best possible experience, customers need to find what they want when they visit a store,” said Russ Hawkins, CEO at Agilence. “The Inventory Module provides visibility to accurately understand their in-store inventory and ensures that customers are satisfied and delighted by finding what they need. The module also identifies theft and lost sales, directly improving retailers’ margins and profitability.”
The IHL Group estimates inventory distortion to be a $1.77 trillion dollar problem worldwide, most of which is preventable. While existing inventory solutions can cripple users with information overload, the easy-to-use Inventory Module is designed to surface actionable insights that can help users to pinpoint shoplifting activity, identify dishonest cashiers, understand distribution center impact on shrink, improve merchandising and promotion activity, and identify the many sources of inventory loss.
With the launch of the Inventory Module, Agilence continues to establish itself as an industry leader in retail, restaurant, and grocery analytics. Agilence’s recent eCommerce Module release provides deep visibility into retailers’ growing e-Commerce operations particularly around inventory, while the Inventory Module addresses brick-and-mortar inventory operations. New and existing customers can now access out-of-the-box functionality to immediately gain clarity over their inventory and improve store strategy, protect their margins, and provide a better customer experience.
Source: Agilence, Inc.