Revolutionising retail with Future Stock
The ability to maximise revenue while minimising inventory is a constant challenge in retail. To achieve this goal, OneStock’s Order Management System (OMS) presents a groundbreaking solution: Future Stock.
This omnichannel feature expands the catalogue of products available for sale and completely transforms the way retailers manage stock, providing an edge in a highly competitive market.
Understanding Future Stock
Future Stock, developed by OneStock, represents approximately 8% of additional orders on average. It revolutionises traditional stock management by seamlessly integrating with the retailer’s ERP. This integration captures supplier orders, shipping notices and receipts, allowing the OMS to orchestrate the best course of action, ensuring a smooth flow even in the absence of inbound stock.
Why implement Future Stock
Severine Candau, IT Manager at Cultura, attests to the transformative impact of Future Stock. It facilitates more sales with less physical stock, enabling retailers to sell products not yet physically in hand. The key benefits include expanding the product catalogue, satisfying diverse customer purchasing intentions, selling products en route and optimising stock flow to enhance revenue.
Unique features of OneStock’s OMS
OneStock stands out as a pioneer, being the only OMS that enables retailers to sell both current and future stock. The OMS eliminates stock-outs by allowing the sale of products still in transit or awaiting replenishment. This innovative approach ensures a continuous revenue stream and reduces surplus stock, contributing to an efficient and profitable retail operation.
How Future Stock works
Future Stock is an omnichannel solution that broadens the range of products available for sale, encompassing items about to be restocked, in transit, or orderable directly from suppliers. Leveraging an OMS provides retailers with enhanced visibility and understanding of current and future orders and stock, ensuring a strategic and efficient approach to order fulfilment.
Benefits for retailers and customers
For retailers, Future Stock translates to optimised stock management, time savings and improved product selection. Retailers can adjust order volumes based on early analysis of orders from future stock, leading to better responsiveness to customer demands. Customers benefit from a wider product range, immediate fulfilment of purchase intentions and simplified buying processes.
Optimising stock management with an OMS
Embracing omnichannel solutions like Ship from Store and Order in Store is a vital step in maximising revenue and minimising inventory. These solutions leverage existing stock efficiently but may still face challenges when items are out of stock. This is where Future Stock comes into play, extending the omnichannel offering and ensuring all customer orders are fulfilled.
Expanding the catalogue and improving SEO
Future Stock not only addresses stockouts but also opens avenues for retailers to expand their product catalogue. This expansion strengthens customer loyalty, improves SEO rankings and minimises the risk for retailers, as items are sold even before being physically received. The approach allows for testing new products and seamlessly integrating successful ones into inventory.
In the pursuit of retail excellence, OneStock’s Future Stock, integrated into an advanced OMS, emerges as a game-changer. Retailers can sell more, stock less and elevate the overall customer experience. As the retail landscape continues to evolve, embracing innovative solutions like Future Stock becomes imperative for those aiming to stay ahead in a competitive market.
Request a demo today and unlock the future of stock management with OneStock.
