Tracking inventory solely within the four walls of a warehouse isn’t enough to stop shrinkage, says Eddie Misicka, vice president of product and solutions at OneRail.

A study by the IHL Group found that retailers miss out on nearly $1 trillion in sales per year because of out-of-stock items.

Supply chain disruption continues to be a challenge for retailers across the globe. Nevertheless, there are some proactive measures that retailers can take to mitigate risk.

Inventory distortion isn't just a problem for supply chain teams; it results in missed sales, dissatisfied customers, excess wastage and capital tied up in stocks.

The new system — launched as collaboration with beverage company Diageo — expands Asda's selection of liquor from up to 26 products to 50.

With AutoPilot and AutoPilot Central, the company says, supply chain managers can reduce planning time by 97%, reduce inventory waste by 13%, and optimize labor planning, among other benefits.

Discrepancies between inventory records and what’s actually available on store shelves and in warehouses are all too common. Retailers end up with “phantom inventory.”

As we’ve seen over the last few years, planning and forecasting alone haven’t been enough to deal with the delays and shortages rippling through global supply chains.

Growing uncertainties in global supply chains necessitate a fresh approach to inventory strategy, says Warren Owen, vice president solutions consultants with Netstock.