Problems With Lost Inventory Or Misplaced OverStock? 

Misplaced Overstock is a major issue in the retail industry, causing companies to lose millions of dollars and contributing to significant environmental damage. Companies lose money by reordering inventory because misplaced inventory can not be found, creating excessive overstock.

Will-Calls

 Will Calls are not complete or on time because employees are busy searching for merchandise that is part of an order that is somewhere misplaced in the store. Companies are paying for wasted time and money that adds up to a corporation like Home Depot that has 277,000 plus employees they can spend hours sometimes searching for lost or misplaced inventory for orders or customers orders. Contractors are continually upset over this because time is very valuable to them, leading to losing customers at spend over a million a year in a store or for some retail stores it may be thousands, but this adds up to a significant loss as well.

Clearance Shrink

33.2% of clearance retail shrinkage was caused by employee or internal theft, (OFS) will substantially stop employees theft. Companies don’t have a way of holding employees accountable for misplaced inventory. OFS stops employee theft and holds employees accountable. No more big losses from employees hiding clearance and waiting for better prices. Your clearance sales will increase. 

Help Stop Enviornmental Damage 

According to PIRG, the fashion industry and construction alone is responsible for 20% of global water waste, 25-30% waist generated worldwide, 39% carbon emissions causing over $100 billion in environmental damages. The harmful effects of overstock do not stop there, as clothing releases methane in landfills and the industry overall is responsible for 10% of global carbon emissions.

Customer Incentives

Customer incentives cost some companies millions. For example a company that has 245,300 employees ( half of Home Depot employees) with $50 incentive rather it is a step up product, giving up to a $50 discount, or a gift card becomes costly amounting up to $12,265,000  for large companies like THD and Lowes.

OFS Is The Solution

Overall companies are losing millions and millions of dollars due to misplaced or loss inventory that causes a train wreck throughout the system. You can find all kinds of articles about how to handle this place or lost inventory and no one has a solution except for OFS.

About OverStock File System

With  all the big retail corporations and warehouses across the world, OFS has the potential to revolutionize the way companies handle overstock and save them millions to hundred of millions of dollars. This system will not only save companies from significant losses saving millions of dollars and improve customer satisfaction, but also make a positive impact on the environment.

Overstock File System (OFS), address misplaced overstock or misplaced inventory problem by providing a comprehensive overstock system that works with all inventory systems. (OFS) reduces employee theft and gives a more accurate timeline where overstock inventory is placed, helping asset protection can identify theft issues more quickly. Reduces environmental damage of $100 billion dollars retail companies alone are responsible for and fosters accountability among employees.