Until recently, more than 65% of CPG brands hadn’t automated their retail execution, despite knowing that automation drives efficiency and productivity. Such optimization provides valuable data and insights on stores’ opportunities, and the lack of it can cause the sales team to miss in-store opportunities. Without access to demand insights, the sales team often operates on a coverage model that is not aware of the gaps in stock or demand.
A typical beat plan creates schedules for field personnel on which outlet to visit, the duration of the visit, and what to do during the visit. But it isn’t the most efficient use of the field salesperson’s time or skills. To uncover any opportunities at the store, salespeople rely on the information provided by the retailer. The retailer is often too busy to provide the information or does not wish to engage the salesperson. It’s a given fact that as much as 25% of sales are lost due to poor retail execution. So salespeople must find as many opportunities as possible during outlet visits.
Brands are beginning to realize the role of technology and automation in uncovering such opportunities. Bizom’s Auto Replenishment System enables brands to track stocks at the store level. It’s an inventory management process aimed at maintaining the desired inventory levels at the store without compromising on the freshness of goods and cash flow for the retailer.
Such systems help sales managers track demand and requirements and deploy resources to plug the most immediate or the biggest gap. Retailers also appreciate the proactive stance of brands, and are consequently, more amenable to adopting any futuristic tech deployed by the brand.