OneRail, a last-mile fulfilment provider, recently unveiled OmniPoint Inventory Visibility, a technology intended to help avoid inventory shrinkage, which is the difference between recorded inventory and real stock. The solution, OmniPoint, aims to address pain points.
In a study of 300 logistics leaders, OneRail discovered that two-thirds reported inventory shrinkage during travel. The most commonly stated difficulties are visibility issues and erroneous inventory data.
“So what do we do to solve these problems?” Chris Kucharski, OneRail’s chief product and technology officer, stated this in an interview with FreightWaves.
“OmniPoint Inventory Visibility uses scanning devices to track your inventory throughout transit. You can now review the scanned data to determine what happened to the pallet or bag containing the lost item.
Using this data, you may begin to acquire insight into where orders are going missing and set up safeguards to ensure it does not happen again.”
The OneRail system overview
OmniPoint provides in-transit visibility by tracking orders down to the SKU level, which provides far more data than pallet-level tracking, regardless of distribution method.
OmniPoint also addresses the substantial correlation that the vast majority of survey respondents identified between real-time delivery tracking and fewer claims for missing products, as well as customers’ expectations that things will be in stock within 24 hours after purchase.
According to Fight Waves, OneRail claims that their integrated, real-time delivery technology ensures timely and accurate deliveries, increasing customer satisfaction. This approach also aids in identifying bottlenecks and optimizing logistical routes, thereby decreasing delays and stockouts.
Furthermore, using scan-in/scan-out systems improves responsibility among warehouse and carrier staff by providing visibility into an item’s last known position.
According to the corporation, solutions that measure shrinkage patterns by carrier improve relationships and allow shippers to reevaluate their delivery partners based on performance.
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