MorningNewsBeat Content Guy Kevin Coupe interviewed Randy Fields, Chairman and CEO of Park City Group (NASDAQ: PCYG) and ReposiTrak, for a special podcast series on the existential threat that out-of-stocks (OOS) pose to the grocery industry in the era of omnichannel commerce. MorningNewsBeat provides news and commentary on the retail industry. ReposiTrak is the industry leader in solutions for stock replenishment, compliance, sourcing, food safety and risk management in the retail supply chain.
Well-known in the retail industry for his insights on emerging trends, Coupe interviewed Fields for a special five-part podcast series titled Solving the Existential Out-of-stock Challenge. The series explores why the age-old problem of out-of-stocks has taken on more urgency for traditional food retailers now that Amazon has entered the grocery market.
On the podcast Fields discusses in depth the consequences of products missing on store shelves to the retailers business as Amazon expands its home delivery services as well as the steps that retailers and suppliers need to take to fix problem. Out-of-stocks drive consumers out of the stores, Fields tells Coupe. Retailers are going to have to get suppliers motivated and focused on fixing the out-of-stock problem at a particular store.
ReposiTrak OOS Management Solution has cut out-of-stocks by average of 46 percent for 70 percent of vendor using that solution in under three months. The solution helps retailers and suppliers reduce out-of-stocks by using proven technology and proprietary algorithms that identify out-of-stocks at the store, stock-keeping unit (SKU) and route level. The ReposiTrak expert team then works with retailers and suppliers to take actions to address out-of-stocks.
The ReposiTrak Platform drives growth and supports all supply and demand chain activities for retailers, manufacturers, and their trading partners, consisting of three product families; Compliance & Risk Management, Supply Chain Solutions, and MarketPlace Sourcing and B2B Commerce. Delivered via one technology platform, all the applications are mutually reinforcing and work synergistically to create value and positive impact across the entire enterprise. The out-of-stock solution is part of ReposiTraks Supply Chain family of solutions.
About Park City Group and ReposiTrak
Park City Group (NASDAQ: PCYG) is a Software-as-a-Service (SaaS) provider that brings visibility to the consumer goods supply chain through its ReposiTrak, Inc. subsidiary. ReposiTrak has three product families; Compliance & Risk Management, Supply Chain Solutions, and MarketPlace Sourcing and B2B Commerce. The platform provides retailers and suppliers with a robust solution suite to help enhance operational control and increase sales, while enabling them to protect their
MorningNewsBeat provides retail news in context and analysis with attitude by its founder, Kevin Coupe. www.morningnewsbeat.com
Randall K. Fields
Chairman & CEO ReposiTrak