OneRail announces the launch of a new Inventory Visibility solution within its OmniPoint® cloud-based platform to address the growing challenge of product shrinkage that shippers face.
Product shrinkage (the loss of inventory) during transport is a pervasive problem for manufacturers and retailers, as it erodes profit margins and undermines trust in transportation providers. To get to the heart of how and when it happens along the supply chain, OneRail commissioned an independent research firm to survey 300 logistics leaders about ensuring the integrity of product delivery. The survey revealed that 88% of respondents acknowledge a direct correlation between real-time delivery tracking and decreased customer claims for missing products. Additionally, nearly half of respondents reported that lack of real-time data was their top pain point when tracking inventory.
“The survey confirmed what we’ve observed in the industry, that in fact, 97% of logistics leaders report that shrinkage due to theft and missing products is a top challenge,” says OneRail founder and CEO Bill Catania. “We developed OmniPoint Inventory Visibility as a solution to eliminate shrink and help our customers meet their on-time in-full (OTIF) standards by providing detailed real-time in-transit reporting.”
Key Takeaways:
- OneRail’s OmniPoint Inventory Visibility solution tracks the movement of product orders down to the item level by integrating with other management systems that provide inventory, order and transportation data to offer real-time location status.
- One of the critical components of bringing this solution to life is OneRail’s open API, which can ingest any data source, providing customers a single source for full visibility of their inventory — whether inbound or outbound.
- OneRail's solution accepts scan data as products move in and out of facilities through its mobile app or other third-party sources for easy and quick implementation.
