Retail Inventory Manager Bot

Retail Inventory Manager Bot

Use Case Description

Inventory management is the process of ensuring that the shop has the merchandise that shoppers want, with neither too little nor too much on stock. By managing inventory, retailers meet customer demand without running out of stock or carrying excess supply.
Inventory management is one of the pillars of a successful retail operation. Retail inventory management techniques help stores and ecommerce sellers satisfy customers, reduce costs and increase profits.

Retailers need to manually count their inventory periodically to ensure that it is accurate. This ensures that they are more likely to have enough inventory to capture every possible sale while avoiding overstock and minimizing expenses.

Inventory errors, mistakes and miscounts are prevalent even when using RFID and barcode tagging. Inaccuracies cause inefficiencies, lost sales and budgeting and forecasting difficulties. A 2019 study for the ECR retailer-manufacturing working group found that about 60% of retailers’ inventory records were inaccurate.

Following are the steps in the Retail Inventory Manager bot use case:

  1. The billing system used in the shop is to be integrated with the UiPath inventory manager bot such that the bot will get triggered in orchestrator whenever billing is done at the counter.
  2. A centralized repository is maintained which has the count for all the products in that specific retail shop.
  3. Simultaneously as the billing is done, the bot will decrease the count of items in the repository that are being billed.
  4. As soon as this number reaches a pre-defined threshold value, a purchase order for that specific item will automatically be placed by the bot to that specific vendor.

Benefits:

Improves Profit Margins: With lower inventory costs and enough supply to fill every order, the UiPath inventory manager bot will help retailers improve profitability.

Simplifies Processes and Facilitates Growth: The bot ensures that shipping, receiving and order fulfillment run more smoothly, and retailers minimize errors, customer complaints and staff stress.

Improves Customers Satisfaction: Inventory manager bot ensures that the customers get the products they want faster with fewer mistakes or out-of-stocks, which increases customer loyalty.

AS-IS WORKFLOW, TO-BE WORKFLOW

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Other information about the use case

Industry categories for this use case: Other Sector

Skill level required: Intermediate

UiPath Products that were used: UiPath Studio, UiPath Orchestrator

Other applications that were used: Excel, Retail Billing Application, Application for placing purchase order

Other resources: -

What is the top ROI driver for this use case?: Accelerate growth and operational efficiency