PALM BEACH, Fla. — Retail Solutions Inc. (RSi), a leading technology company enabling CPG manufacturers and retailers to drive greater profitability, announced that it is launching its newly expanded IRIS on-shelf availability (OSA) platform during the NACDS Annual.
IRIS is said to combine RSi’s unparalleled industry knowledge, digital technology innovations, and data expertise to enable users to achieve the perfect and profitable shelf.
For chain drug stores and their suppliers, attaining the perfect shelf is more vital than ever. The shoppers’ path-to-purchase continues to undergo historic changes, making it imperative that retail and CPG partners collaborate closely and have the right tools, insights and support to maximize their sales performance, from supply chain to shelf.
To that end, the IRIS platform establishes an essential baseline for OSA measurement, identifying the root causes of OSA roadblocks to correct any issues, and prevent them from happening again. For example, Colgate-Palmolive is leveraging Retail Shelf Alerting as part of the IRIS platform to measurably improve its on-shelf availability.
“Colgate can now see a correlation between OSA improvement and an increase in sales,” Tracey Plumleigh, retail manager, Walmart Team at Colgate-Palmolive said in a statement. “Now, we’re not just protecting the shelf space that we have, but we’re allowing that demand to be optimized to potentially gain more shelf space as shoppers start to buy more items (that are continuously in stock). We have a better idea of what real shelf demand is.”
“At RSi we are single-mindedly focused on enabling our partners and customers to optimize their market position and drive substantially greater profitability – from supply chain to shelf,” said Kirk Wheeler, senior vice president of global sales and marketing for RSi. “By measuring, correcting and preventing OSA issues, the IRIS platform empowers organizations to successfully address OSA and thus drive more sales, more profitably.”
The newly expanded IRIS platform delivers over 100k OSA alerts daily and has captured more than $1B in identified potential recaptured sales for CPG and retail users – allowing them to optimize their market positions in a globally challenging retail landscape. IRIS includes the following key modules:
• Measure – Tracks OSA at the most granular level (store/product/day), with results that can be aggregated to provide precise assessments of OSA performance to establish a baseline.
• Correct – Provides alerts when specific circumstances occur that indicate an imperfect shelf. These alerts are immediately delivered to the appropriate individual so that action may be taken to correct the situation and increase OSA performance.
• Prevent – Takes advantage of business intelligence data analytics and machine learning technologies to avoid problems on the shelf before they occur.