High Fidelity Shelf Stock Monitoring: a Framework for Retail Replenishment Optimization

This book provides a detailed analysis on how retail stores gain a competitive advantage through the introduction of RFID technology or a gravimetric system aimed at reducing replenishment process costs and out-of-stock situations on retail shelves. An increase in inventory visibility allows for timely replenishment and results in lower out-of-stock situations and higher customer satisfaction. The evaluation process of such a technology is challenging because currently we are unable to confidently estimate the effects on the improvement of shelf inventory data and the optimal costs associated with that technology. This book provides a detailed description of the tools and strategies that enable a thorough analysis of potential benefits with respect to cost and out-of-stock. The process analysis performed in this book supports operation specialists and retail managers with evaluating the cost-effectiveness of their current replenishment policies and with deriving explicit results on potential benefits.