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Orridge to host second Stock File Accuracy Forum on 20th February 2024
Orridge is hosting its second Stock File Accuracy (SFA) Forum meeting on 20th February 2024 to discuss the challenges facing businesses at a time when international tensions are putting increasing pressure on on-shelf availability (OSA).
With ongoing conflict in Ukraine and the Middle East where shipping is having to be re-diverted around the Cape of Good Hope, Orridge, one of Europe’s leading independent stocktaking and supply chain specialist organisations, is bringing a number of businesses together to discuss the wider SFA and OSA challenges on Tuesday, 20th February.
There are still places available for risk managers and inventory analysts to join their peers from high street brands and online businesses representing a number of different sectors.
The business staged its first SFA Forum in November 2022 when representatives from sectors including fashion, health and beauty, grocery, DIY, pet supplies and general merchandise, met in Watford to discuss the post-COVID challenges surrounding on-shelf availability.
Since that time, businesses have had to deal with the challenges of conflict in Europe and the Middle East, inflationary pressures, and the cost-of-living crisis which will represent some of the topics that will be discussed at the Orridge SFA Forum which will be held at the Premier Inn at South Mimms, just off the M25.
At the last Forum, Orridge conducted a survey among retailers which revealed that 100 per cent of respondents agreed with the statement: "stock accuracy in stores is causing availability issues and lost sales", with a staggering 66 per cent ‘strongly agreeing’ with the sentiment.
All agreed that high levels of inventory accuracy were key to running a retail and supply chain business efficiently and that having the stock without the knowledge was as problematic as believing you had it whereas in reality it wasn’t there – either way it is an unfulfilled sale and a dissatisfied or lost customer.
The objective of the SFA Forum is for it to be an open discussion where retailers can explore the subject and share best practice.
Once again facilitated by John Wilson, executive editor of Loss Prevention Magazine Europe, delegates will get the opportunity to hear about others attendees' experience and methodologies for stock counting and how they reconciled inventory and availability.
Phil Wilson, head of supply chain services for Orridge, said: “The discussions around the table at the last event revealed a huge appetite to collaborate and share best practice around the topic of stock file accuracy and on-shelf availability both in stores, online and in the supply chain."
“With ongoing conflict disrupting international shipping lanes and supply chains and ongoing cost-of-living challenges, retailers have had to make every sale count, and optimising stock file accuracy and on-shelf availability is the all-important differentiator between thriving and surviving."
“I am very much looking forward to welcoming everyone to the event. We have had a great response to the invitation, but there are still a few spaces available if anyone is interested in coming along,” he added.
To express an interest and register for the event, please contact Lorna Catt at Orridge at lorna.catt@orridge.co.uk
