Shelf-Confidence

Daniel Corsten, Thomas W. Gruen

Description

This book takes readers behind the scenes of consumer products retailing and distribution and explores how to boost service, lower costs, and enhance efficiency by addressing out-of-stocks.

Out-of-Stock and unavailable! In 2020, the perfect storm hit when the COVID-19 pandemic caused shoppers to buy food, toilet paper, and other items in a panic. The result was a large number of items were suddenly out of stock, leading to more buying and an outright crisis.

This book takes readers behind the scenes of consumer products retailing, uncovering and explaining the extent, the causes, and the shopper reactions to out-of-stock items. The authors draw on their decades of experience studying the availability of consumer goods to explore how to improve service levels, slash costs, boost efficiency, and enhance customer satisfaction.

Whether you’re a manufacturer, wholesaler, retailer, retailer consultant, researcher, member of the media, or a member of a trade association, you’ll discover useful insights in this well-researched book. Shoppers will also enjoy learning the behind-the-scenes details of how items get to the shelves, and how often they are out-of-stock! 

Here is what the consumer goods industry is saying about Shelf-Confidence:

“Shelf-Confidence will provide you with an invaluable collection of documented research, tested insights and actionable conclusions from twenty years of studying the out-of-stock issue.” 
Milan Turk, Jr., former Vice President, the Procter & Gamble Company

“This practical book provides industry benchmarks and best practices to improve availability online and offline.”
Olaf Koch, former CEO Metro Group, Partner at Zintinus.

“The thorough and practical research in this book will help retailers take waste out of the supply chain, improve omni-channel product availability, and change their game.”
Sir Terry Leahy, former CEO Tesco Stores

Sujets

• Communication organisationnelle
• Gestion de la chaîne logistique
• Retail
• Business
• Economics
• Availability
• Retailing
• Online shopping
• Fast moving consumer goods
• Final goods
• Shopper
• Detal
• Marketing et communication
• Business Communication
• Digital Marketing

Informations

• Publié par: iUniverse
• Date de parution: 22 août 2022
• Nombre de lectures: 0
• EAN13: 9781663238504
• Langue: English
• Poids de l'ouvrage: 1 Mo

Extrait

SHELF CONFIDENCE
 
A Practical Guide to Reducing Out-of-Stocks and Improving Product Availability in Retail
 
 
 
Thomas W. Gruen and Daniel Corsten
 
Shelf Confidence
A PRACTICAL GUIDE TO REDUCING OUT-OF-STOCKS AND IMPROVING PRODUCT AVAILABILITY IN RETAIL
 
Copyright © 2022 Thomas W. Gruen and Daniel Corsten.
 
All rights reserved. No part of this book may be used or reproduced by any means, graphic, electronic, or mechanical, including photocopying, recording, taping or by any information storage retrieval system without the written permission of the author except in the case of brief quotations embodied in critical articles and reviews.
 
The views expressed in this work are solely those of the author and do not necessarily reflect the views of the publisher, and the publisher hereby disclaims any responsibility for them.
 
 
 
 
iUniverse
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Bloomington, IN 47403
www.iuniverse.com
844-349-9409
 
Because of the dynamic nature of the Internet, any web addresses or links contained in this book may have changed since publication and may no longer be valid. The views expressed in this work are solely those of the author and do not necessarily reflect the views of the publisher, and the publisher hereby disclaims any responsibility for them.
 
Cover Design by Victoria Aróstegui
Cover art courtesy of Torkel Doehmers
 
ISBN: 978-1-6632-3851-1 (sc)
ISBN: 978-1-6632-3850-4 (e)
 
Library of Congress Control Number: 2022907871
 
 
 
iUniverse rev. date: 08/15/2022
 
 

Praise for Shelf-Confidence
“Product availability is a key measure of retail and wholesale excellence. It is key to ensure high customer satisfaction and as such future growth. This practical book provides industry benchmarks and best practices to improve availability online and offline.”
Olaf Koch, former CEO Metro Group, Partner at Zintinus
“While the digitally-fueled pace of change may have been accelerated in recent times, Corsten and Gruen’s book, Shelf-Confidence , is essential reading for anybody who wants to understand why it still pays to get the basics in retailing right. Indeed, covering the retail basics has become all the more important in the wake of panic buying, empty shelves and poor substitutions, much as less when managing increased supply chain challenges emerging from the added complexity of selling online as well as in stores. As such, the breadth and depth of research, knowledge and insight shared in this book will also help industry practitioners and academics alike navigate the next wave of disruption.”
Miya Knights, Author, Consultant and Retail Technology publisher
“Out-of-stocks have been a perennial problem in retail. But it can be solved with a deep focus on collaboration and the consumer. The thorough and practical research in this book will help retailers take waste out of the supply chain, improve omni-channel product availability, and ‘change their game’.”
Sir Terry Leahy, former CEO Tesco Stores
“This book is a fabulous ‘one stop shop’ for any retailer or brand owner looking to improve their online and offline availability. As this book brilliantly illustrates, the rewards are significant.”
Colin Peacock, ECR Retail Loss Group
Table of Contents (brief)
Praise for Shelf-Confidence
Foreword by Milan Turk, Jr
Preface by Marshall Fisher and Ananth Raman
Introduction: Past, Present, and Future of Out-of-Stocks and Availability
Part I: Examining On-Shelf Availability
Chapter 1 How and Why We Study Out-of-Stocks
Chapter 2 The Extent of Out-of-Stocks
Chapter 3 Consumer Responses to Out-of-Stocks
Chapter 4 Causes of Out-Of-Stocks
Chapter 5 The Financial and Managerial Implications of Out-of-Stocks
Part II: Improving On-Shelf Availability
Chapter 6 Identifying and Addressing Out-of-Stocks—Overview and Guidance
Chapter 7 Understanding the Total Cost of Out-Of-Stocks
Chapter 8 Understanding Out-Of-Stocks through Measurement
Chapter 9 Lowering Out-of-Stocks--Our Hypotheses and Studies
Chapter 10 How to Achieve and Maintain Lower Levels of Out-Of-Stocks
Part III: Understanding Online Availability
Chapter 11 Measuring the Extent of Online Availability
Chapter 12 Shopper Reactions to NOLA - Searching, Switching and Loyalty
Chapter 13 Estimate OLA Prize: Size and Implications
Chapter 14 Implement OLA Measures
Conclusion
Chapter 15 What Needs to be Done?
Afterword
Acknowledgements
Authors Bios
Literature, References and Resources
Table of Contents (detailed)
Praise for Shelf-Confidence
Foreword by Milan Turk, Jr
Preface by Marshall Fisher and Ananth Raman
Introduction: Past, Present, and Future of Out-of-Stocks and Availability
A. Why this book?
B. What is the structure of the book?
C. Who should read this book?
D. What is in this book?
Part I: Examining On-Shelf Availability
Chapter 1 How and Why We Study Out-of-Stocks
1-1. Study Background and Objectives
1-2. Methodology and Description of Studies
Chapter 2 The Extent of Out-of-Stocks
2-1. What Is an Out-of-Stock?
2-2. Extent of Out-of-Stocks Worldwide and by Region
2-3. Out-Of-Stock Extent by Category
2-4. Out-of-Stocks vary by Time of Day and Day of Week
2-5. Variation by Promotion, Movement and Duration of Out-of-Stocks
2-6. Conclusions from the Analysis of the Extent of Out-of-Stocks
Chapter 3 Consumer Responses to Out-of-Stocks
3-1. Consumer Response Types and Impact on Retailers and Manufacturers
3-2. Consumer Study Summary Findings
3-3. Consumer Responses Vary Across Categories
3-4. Consumer Responses Vary by Region & Country
3-5. Worldwide Responses by Category
3-6. Implications of the Worldwide Analysis
3-7. Additional Questions Regarding Consumer Responses
Chapter 4 Causes of Out-Of-Stocks
4-1. Out-Of-Stocks Causes by Region
4-2. Examination of Primary Root Causes by Process
4-3. Other Explanations or Attributions of Out-Of-Stocks
4-4. Determining Root Causes in a Retail Chain
Chapter 5 The Financial and Managerial Implications of Out-of-Stocks
5-1. Defining the Implications of Out-Of-Stocks
5-2. Quantifying the Losses Due to Out-Of-Stocks
5-3. Out-Of-Stock Fixes and Implications
5-4. Conclusions from Part I
Part II: Improving On-Shelf Availability
Chapter 6 Identifying and Addressing Out-of-Stocks—Overview and Guidance
6-1. Objectives and Key Findings
6-2 What is an Out-Of-Stock?
6-3 Guide to Using Part II
Chapter 7 Understanding the Total Cost of Out-Of-Stocks
7-1 Introduction: With All This New Technology, Why Isn’t Availability Higher?
7-2. A Generally Unrecognized Problem: The Costs of Out-Of-Stocks > Lost Sales
7-3. Root Cause Analysis Drives a Distinction of Store vs. Shelf OOS Conditions
7-4. We Know How Consumers Respond to Out-of-Stock Conditions
Chapter 8 Understanding Out-Of-Stocks through Measurement
8-1. Understanding the Measurement and Identification of Out-Of-Stocks
8-2. Focus on the Items that Result in the Majority of Out-Of-Stocks
8-3. Viewing Out-Of-Stock Patterns
Chapter 9 Lowering Out-of-Stocks--Our Hypotheses and Studies
9-1. Making the Case for Item Data Accuracy
9-2. Making the Case for Inventory Accuracy
9-3. Demand Forecasting Accuracy
9-4. Having the Goods You Need When You Need Them
9-5. Making Room on the Shelf: The Case for Demand-Based Planograms
9-6. Knowing Where Everything Should Be: The Case for Planogram Compliance
9-7. Knowing Where Everything Should Be: Keeping the Shelves Straight
Chapter 10 How to Achieve and Maintain Lower Levels of Out-Of-Stocks
10-1. The Ability to Measure Provides the Ability to Focus
10-2. Taking Action—Store or Shelf Related?
10-3. A Comprehensive Approach to Reducing OOS Events, Duration, and Losses
10-4. Focusing on High-Demand Items
10-5. Bringing It All Together—Our Conclusions
Part III: Understanding Online Availability
Chapter 11 Measuring the Extent of Online Availability
The Organization of Part III
11-1. Methodology and Definitions
11-2. Worldwide Extent
11-3. Extent by Country
11-4. Extent by Online Category
11-5. Extent Perceived by Online Shoppers
Chapter 12 Shopper Reactions to NOLA - Searching, Switching and Loyalty
12-1. Methodology and Definitions
12-2. How Shoppers Encounter NOLA
12-3. Reactions to NOLA
12-4. Detailed Switching Behavior
12-5. Online Shopper Types
Chapter 13 Estimate OLA Prize: Size and Implications
13-1. Losses and Opportunities
13-2. Who Loses: Retailers or Brands?
13-3. Opportunity for the Industry
Chapter 14 Implement OLA Measures
14-1. Methodology
14-2. Measurement and Extent
14-3. Consequences of NOLA
14-4. Causes Out-of-Stocks and Voids
14-5. Strategy and Countermeasures
14-6. Five-Step Approach to Addressing OLA
Conclusion
Chapter 15 What Needs to be Done?
15-1. Align Leaders
15-2. Deploy Technology
15-3. Improve Jobs
Afterword
Acknowledgements
Authors Bios
Literature, References and Resources
Foreword
If you have chosen to open this book and read this foreword, you are surely already aware of the enduring impact of out of stocks in the retail world and particularly for consumer packaged goods. You are already aware – and likely from personal experience as well! – how frustrating it is to the consumer to encounter an out-of-stock. For the consumer, it isn’t so muc