New technology creates perpetual benefits Once again, inventory management is the key to balancing the ability to offer perishable items while maintaining margins. You need enough to win customers and build loyalty while also minimising waste. Of course, knowing how much fresh food to stock is difficult because it spoils.
The second driver of change is the increasing importance of fresh foods. How can you balance inventory and meet demand from multiple channels and in the store – without losing too much to spoilage? Freshness is essential But carrying too much inventory affects margins – especially when dealing with perishables. Great customer experiences hinge on having enough product in stock. Unlike other industries, spoilage in grocery and food service adds another layer of difficulty. It’s more complicated than ever to have the right products in the right place at the right time. Each new fulfilment option creates a new source of demand with its own lift and potential demand shift. Multiple shopping experiences are being offered to the consumer but still need to be fulfiled from the store. Just as it has in other industries, omnichannel in grocery and food service presents inventory challenges.
As consumers demand more speed and convenience than ever before, a range of new options has emerged, including curbside pickup, locker delivery, click and collect and home delivery, with additional possibilities on the way. The first trend affecting grocery and food service companies is a move to provide new and time-saving shopping experiences at the local grocer.
Omnichannel expands beyond fashion retail Which companies are going to be able to take advantage? The companies who apply the right technology are the ones who will reap the rewards. Each is important on its own, but looking at them together, we can see both a need and a major opportunity for better inventory management. Three trends are changing the grocery and food service industries.