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Phantom Inventory

Rely on accurate data to make informed decisions about inventory levels, pricing, and promotions

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Phantom Inventory

Phantom inventory creates significant operational disruptions for retailers, leading to out-of-stock situations, lost sales, and frustrated customers. It disrupts allocation and forecasting processes, causing inefficient use of resources and imbalanced inventory levels across store locations. Phantom inventory directly impacts customer satisfaction, leading to negative word-of-mouth and decreased trust and loyalty, both in-store and online.

Our Phantom Inventory solution offers data-driven insights to new and existing clients through a stand-alone app which leverages the power of AI to detect discrepancies between inventory data and physical inventory in stores, helping retailers reduce lost sales, boost customer satisfaction, and maximize profitability.

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Why use Phantom Inventory?

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Why is phantom inventory a problem?

Retail store managers often have difficulty tracking inventory errors which can lead to stockouts, inaccurate sales data, and customer dissatisfaction. The most likely reasons for these errors are:

  • Products have been stocked on the wrong shelf
  • A product has fallen from from its shelf/peg
  • Shoppers put unwanted products back in the wrong place
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What is the impact of phantom inventory?

Execution errors are extremely costly and time consuming to identify. Stores often only do physical inventory counts once or twice a year which may not be frequent enough to understand when the discrepancies are occurring and to keep them from repeating. Some of the effects of execution errors include:

  • Unnecessary stock-outs
  • Decreased sales
  • Unhappy and dissatisfied customers

How can you combat phantom inventory?

Preventing the issues that cause phantom inventory is crucial for maintaining accurate stock levels and ensuring smooth operations in retail businesses. Many of the issues can be traced back to human error which is why it's important to implement innovative solutions to avoid the common mistakes.  Our Phantom Inventory solution reduces these occurrences by:

  • Automatically detecting potential lost sales when a SKU is shown as in-stock in the system but there have not been any sales
  • Alerting store management to investigate inventory errors so they can quickly resolve the issue
  • Minimizing situations where customers encounter empty shelves or are unable to find the items they need, resulting in lost sales
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How will you benefit from implementing Phantom Inventory?

By incorporating the Phantom Inventory solution into their operations, retailers have access to real-time inventory tracking and accurate stock data at their fingertips and can streamline their supply chain management, ensuring optimal stock levels and reducing the risk of stockouts or overstocking. The intuitive tool empowers retailers to enhance overall efficiency, simplifying inventory audits, and minimizing manual errors, resulting in:

  • Increased sales of 1-2%
  • Improved inventory accuracy
  • Elevated customer satisfaction

Key Benefits

Increase in sales by 1-2%
SKUs in the right place to capture every sale
Increased customer satisfaction
More frequent inventory audits

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