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CHICAGO -- Decisions Made Easy, a provider of analytical software and services for business users at consumer packaged goods companies, and a global business unit of Progressive Grocer parent The Nielsen Company, yesterday released a software tool developed to help CPG manufacturers reduce out-of-stocks.
The tool is designed to help suppliers reduce out-of-stocks by providing visibility into product availability and store operations. This is done by integrating the vendor's Direct Data -- which includes retailer supplied point-of-sale data, store inventory orders, distribution center data, shipments, and forecast data -- and analyzing it through Cipher, Nielsen's CPG reporting and analysis tool.
"Out-of-stocks are costing CPG companies billions of dollars," said Wayne Rigney, Decisions Made Easy c.e.o. "Not only do we provide a solution to help companies resolve current out-of-stock issues, but our product also identifies points of failure to prevent future stock-outs. Providing suppliers with this level of control over availability will lead to lower inventory and fewer out-of-stock situations, resulting in lower costs and increased sales."
Key features of the availability management application include:
-- Alerts based on value, duration, live event status, or other attributes to prevent future stock-outs. These are customized for each user and displayed in a Web-based executive dashboard, and alerts offer an important warning when products and stores require immediate action.
-- Standard reports, such as "Store Within a Store" reports, are automated to save time.
-- Actionable templates, including recommended replenishment quantities and distribution center orders.
-- Automatic feeds for existing back-office supply chain applications, such as SAP, with near real-time data to improve forecasting capabilities and supply chain processes, and close the availability loop.
"Our solution enables CPG companies to quickly get to the heart of critical information in massive amounts of data," said Rigney. "Knowing the urgency and potential impact of each availability issue helps suppliers prioritize and take action. Having this information at their fingertips strengthens their position as a trusted adviser to the retailers and fosters greater collaboration."