Last-mile fulfillment provider OneRail recently introduced a solution, OmniPoint Inventory Visibility, designed to help prevent inventory shrinkage, the discrepancy between recorded inventory and actual stock.
The solution, OmniPoint, seeks to address pain points OneRail found in a survey of 300 logistics leaders, two-thirds of whom said they experience inventory shrinkage in transit. Most cited visibility issues or inaccurate inventory data.
Related: OneRail survey details retail shippers’ last-mile delivery needs
“So what do we do to solve these problems?” Chris Kucharski, chief product and technology officer of OneRail, said in an interview with FreightWaves. “With OmniPoint Inventory Visibility, our scanning devices track your inventory throughout transit. Now you can look at that scanned data and see what happened to the pallet or tote for this missing item. Using this data, you can start pulling insight to understand where orders are going missing and put up guardrails to ensure it doesn’t happen again.”
OmniPoint offers in-transit visibility by tracking orders down to the SKU level, delivering significantly more detail than pallet-level tracking, regardless of distribution channel.
OmniPoint also addresses the strong link that an overwhelming majority of survey respondents reported between real-time delivery tracking and reduced claims for missing products, as well as customers’ expectation that products will be in stock within 24 hours of ordering.
Related: Last-mile delivery provider OneRail raises $33M Series B
The integrated, real-time delivery platform ensures timely and accurate deliveries, OneRail said, enhancing customer satisfaction. This approach also helps identify bottlenecks and optimize logistics routes, reducing delays and stockouts.
In addition, utilizing scan-in/scan-out methods increases warehouse and carrier staff accountability, providing visibility into an item’s last known location. According to the company, systems that track shrinkage trends by carrier foster better relationships and enable shippers to reevaluate their delivery partners based on performance.
“Ultimately our goal is to help our partners meet their on-time, in-full requirements, and this data will help them manage that and track their inventory better,” said Kucharski. “All of this data can help retailers feel confident in telling their customers, ‘Yes, this product will be there.’”
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