Ryman tackles loss with stock audit software
The High Street office stationery and supplies retailer updates stock management to boost loss prevention capabilities and improve its bottom line.
Ryman, the high street stationer is deploying new stock audit software to improve stock accuracy and its ability to identify stock loss across its UK stores.
The retailer, owned by Dragons' Den judge and business turnaround expert Theo Paphitis, decided to deploy a new store stock audit system as part of a wider stock management integration project that will see it implement tighter security measures and achieve real-time supply chain visibility.
The implementation includes the development of a dedicated interface to enable the stock audit software to communicate directly with Ryman's central stock management system and accurately upload routine stock counts to reconcile back-office data in real time.
"All retailers have issues with stock loss and the records need to be reconciled regularly," said Ray Winter, head of risk management at Ryman.
He added: "Upgrading a stock auditing system is a complex project because it has to interact with other business systems. Plus it involves learning new processes and training not just those staff physically handling the equipment, but the entire branch teams at our stores."
The new Nucleus IS - Stock Audit software from Zetes is being deployed to all 235 Ryman group outlets.
Winter said he had previous knowledge of the software: "Even though we went to tender to explore what else was available to replace our existing stock audit system, it still came out top in the marketplace," he added.
Ryman anticipates that, in addition to improving the management of stock replenishment processes, the company will be better placed to apply new security processes at store level to minimise shrinkage.
What you need to know about migrating to SAP S/4HANA
Factors to assess how and when to begin migrationDownload now
Your enterprise cloud solutions guide
Infrastructure designed to meet your company's IT needs for next-generation cloud applicationsDownload now
Testing for compliance just became easier
How you can use technology to ensure compliance in your organisationDownload now
Best practices for implementing security awareness training
How to develop a security awareness programme that will actually change behaviourDownload now