Out-of-Stock is Out-of-Business
Stockout or out-of-stock is a Sin for Businesses. What is stockout and how to prevent it? This blog will tell you everything that you need to know about Stockout like its reasons, consequences, strategies, and solutions. The percentage of products that are out-of-stock when consumers want to buy them is known as the Stockout Rate, simple! The simple formula to calculate Stockout Rate is the number of goods not in stock divided by the total number of items in stock. AWL India has done extensive research and found that the usual Stockout Rate around the world is over 8%, and it keeps on increasing. 8% may sound like a fraction to some people but in bulk order processing and the long-term, it certainly results in severe revenue loss for businesses. Key Takeaways Understand the reasons why Stockout happens. What are the consequences of Stockout? What does it costing to your business? How Covid-19 pandemic accelerated Stockout Rate throughout the world? How to prevent your inventory f...