FMI-GMA On-Shelf Availability Taskforce
Every retailer knows that if a product is not there, the consumer can't buy it, which makes reducing out-of-stocks and improving on-shelf availability a business imperative for retailers, wholesalers and manufacturers. Empty shelves impact sales, profit and consumer loyalty, and if they occur too frequently they'll tarnish a company's reputation. An effective retailer/supplier collaborative approach is necessary to resolve the myriad supply chain and store level factors–slow information exchange, cumbersome ordering processes, timing and delivery issues and in-store inefficiencies–that contribute to the problem of out-of-stocks. Emerging real time data-sharing capabilities and analytics have opened the doors to accelerated action and resolution through trading partner collaboration.
Recognizing this unique opportunity, the FMI and GMA Supply Chain Committee have created a joint industry On-Shelf Availability Taskforce to create a standard process for proactively leveraging data. The taskforce intends to develop a best practices framework complete with metrics, a migration plan and a model for standard trading partner interaction. Several of the key business practices and processes to be addressed include accuracy of data, supply chain system, merchandising planning and in-store operations. By addressing issues through a larger focus on process, metrics and organizational improvements, the taskforce will identify gaps and work to improve on-shelf availability through collaboration.
For more information about the Joint Industry On-Shelf Availability Taskforce, contact Pat Walsh, vice president, supply chain, and chief business development officer, at [email protected].