Asda extends tech partnership

Asda has extended its partnership with Retail Insight and improved on-shelf availability and in-store experience with it’s InventoryInsight solution

Inventory inaccuracy is a perennial challenge for grocery retailers, with data from ECR Retail Loss suggesting that 60% of all inventory records are incorrect. 

Discrepancies between stock records and what inventory is actually available can cause phantom or shadow inventory, a major driver of inefficiencies, lost sales and falling margins. InventoryInsight is a Machine Learning-driven software that identifies and corrects inaccurate retailer inventory records to drive store performance. 

In just nine months since deploying InventoryInsight, Retail Insight has removed over 1.6million units of phantom inventory from Asda’s store estate, delivering a 63x return on investment to the retailer. Following the successful pilot, Asda will now conduct a full roll-out of InventoryInsight across its store network.

Neil Fairclough, Senior Director of Retail Transformation at Asda, said: “Given the impressive results we received at trial, we were excited to conduct a full roll out of the InventoryInsight solution.  We have not been disappointed by that decision with metrics that have exceeded our expectations.”