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  May 6th, 2024 | Written by

OneRail Unveils Inventory Visibility Solution to Tackle Shrinkage and Streamline Operations

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OneRail, a pioneering provider of omnichannel fulfillment solutions, has introduced a cutting-edge Inventory Visibility solution on its OmniPoint® cloud-based platform to confront the persistent challenge of product shrinkage encountered by shippers.

Product shrinkage, characterized by the loss of inventory during transportation, poses significant hurdles for manufacturers and retailers, impacting profit margins and trust in transportation providers. To delve into the underlying causes and occurrences of shrinkage along the supply chain, OneRail commissioned a survey of 300 logistics leaders. The findings revealed a staggering 67% of companies experiencing shrinkage in shipping, highlighting the urgent need for solutions to address this issue.

Read also: Improving Inventory Management: Best Strategies for Optimal Fulfillment

Bill Catania, Founder and CEO of OneRail, emphasized the critical role of real-time delivery tracking in mitigating shrinkage and bolstering customer satisfaction. The survey underscored that 88% of respondents recognized a direct link between real-time delivery tracking and reduced customer claims for missing products. Additionally, nearly half of the participants identified the lack of real-time data as their primary pain point when tracking inventory.

In response to these challenges, OneRail has developed the OmniPoint Inventory Visibility solution, designed to eradicate shrinkage and enhance adherence to on-time in-full (OTIF) standards. Chris Kucharski, Chief Product and Technology Officer at OneRail, highlighted the revolutionary approach of the solution in extending visibility beyond warehouse confines to encompass the entire supply chain journey. By providing detailed real-time in-transit reporting down to the SKU level, OmniPoint Inventory Visibility offers unparalleled granularity, empowering shippers to pinpoint and address issues promptly.

Key features of OneRail’s solution include seamless integration with existing inventory, order, and transportation management systems, enabling comprehensive real-time location status updates. Leveraging an open API architecture, the solution can effortlessly ingest data from various sources, ensuring a unified view of inventory movements. Moreover, OneRail’s mobile app and third-party sources facilitate the swift implementation of the solution, enhancing operational efficiency and responsiveness.

The survey findings shed light on the root causes and financial implications of shrinkage, as well as the strategies adopted by logistics leaders to combat this challenge. With retailers and wholesalers increasingly seeking technology-driven solutions to mitigate inventory discrepancies, OneRail’s Inventory Visibility solution emerges as a game-changer in streamlining operations and enhancing supply chain resilience.