Overcoming Inventory Record Inaccuracy: An Alternative to RFID

by Nicole DeHoratius

Automated decision support tools in retailing rely on the accuracy of inventory records -- records that track the number of units per item available for customer purchase. Three essential retail decisions -- when to order, how much to order, and what to forecast -- all assume the record inventory quantity matches the actual quantity found on store shelves. However, research shows that this is often not the case. Given the cost of inaccurate inventory records to the retail firm, what means do retailers have to ensure record accuracy? My colleagues and I have identified three categories of solutions.

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Overcoming Inventory Record Inaccuracy: An Alternative to RFID1 July 2007