OneRail Launches Inventory Visibility Solution to Combat Shrinkage and Increase Efficiencies
May 06 2024 - 8:00AM
Business Wire
New Survey Reveals 67% of Companies Experience
Shrinkage in Shipping
OneRail, an innovative provider of solutions in last mile
omnichannel fulfillment, announces the launch of a new Inventory
Visibility solution within its OmniPoint® cloud-based platform to
address the growing challenge of product shrinkage that shippers
face.
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the full release here:
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Shrinking Shrinkage: Study Offers
Inventory Visibility Solutions -- To better understand how product
shrinkage happens and how to eliminate it, OneRail commissioned an
independent research firm to survey 300 logistics leaders. Download
your copy: https://www.onerail.com/shrinkage-study/ (Graphic:
Business Wire)
Product shrinkage (the loss of inventory) during transport is a
pervasive problem for manufacturers and retailers, as it erodes
profit margins and undermines trust in transportation providers. To
get to the heart of how and when it happens along the supply chain,
OneRail commissioned an independent research firm to survey 300
logistics leaders about ensuring the integrity of product delivery.
The survey revealed that 88 percent of respondents acknowledge a
direct correlation between real-time delivery tracking and
decreased customer claims for missing products. Additionally,
nearly half of respondents reported that lack of real-time data was
their top pain point when tracking inventory.
“The survey confirmed what we’ve observed in the industry, that
in fact, 97 percent of logistics leaders report that shrinkage due
to theft and missing products is a top challenge,” said OneRail
Founder and CEO Bill Catania. “We developed OmniPoint Inventory
Visibility as a solution to eliminate shrink and help our customers
meet their on-time in-full (OTIF) standards by providing detailed
real-time in-transit reporting.”
“Traditionally, managing inventory visibility has been mainly
addressed within the four walls of a warehouse or distribution
center,” said OneRail Chief Product and Technology Officer Chris
Kucharski. “A big challenge shippers face is lack of visibility as
to where the breakdown is in the supply chain when inventory goes
missing, as well as who is responsible. With OmniPoint Inventory
Visibility, our customers who are used to receiving last mile
tracking can get that same level of intelligence on their shipments
further upstream into the middle and first mile of the journey.
“The OmniPoint solution provides in-transit visibility that
tracks orders down to the SKU level — offering much more
granularity than at the pallet level — regardless of the
distribution channel it is on,” Kucharski continued.
OneRail’s OmniPoint Inventory Visibility solution tracks the
movement of product orders down to the item level by integrating
with other management systems that provide inventory, order and
transportation data to offer real-time location status. One of the
critical components of bringing this solution to life is OneRail’s
open API, which can ingest any data source, providing customers a
single source for full visibility of their inventory — whether
inbound or outbound. OneRail's solution accepts scan data as
products move in and out of facilities through its mobile app or
other third-party sources for easy and quick implementation.
Additional survey findings include:
- Causes of shrinkage
- Top pain points for tracking inventory
- Financial impact of shrinkage
- How logistics leaders track deliveries
- Companies’ top strategies for combating shrink
Overall, OneRail’s report shows that retailers and wholesalers
are looking for technology solutions to help them address missing
inventory and connect the dots between facilities and
in-transit.
To access the OneRail report, Shrinking Shrinkage: Solutions for
Improving Inventory Visibility, visit:
https://www.onerail.com/shrinkage-study/.
OneRail is exhibiting at the Gartner® Supply Chain
Symposium/Xpo™ in Booth 213, and Founder and CEO Bill Catania is
moderating a panel session — Final Mile Transformation: Strategy
& Success with Pepsi, Signet & Advance Auto Parts — on
Tuesday, May 7.
About the Gartner Supply Chain Symposium/Xpo
CSCOs and supply chain leaders are continuously confronted with
increasingly complex challenges and are expected to outperform and
overdeliver. Top supply chain organizations navigate through the
turbulence by solving present-day issues and positioning themselves
for long-term success. The Gartner Supply Chain Symposium/Xpo™ 2024
conference offers pragmatic advice and future-focused insight for
supply chains to deliver now and in the future. Network with 3,000+
peers and vet new technologies at our Exhibit Showcase.
About OneRail
OneRail is a leading omnichannel fulfillment solution pairing
best-in-class software with logistics as a service to provide
dependability and speed to help businesses meet their delivery
promise. With a real-time connected network of 12 million drivers,
OneRail matches the right vehicle for the right delivery so brands
lower expenses and increase capacity to rapidly scale their
businesses. This people-plus-platform approach features a 24/7
USA-based exceptions team who maintain a 99% on-time delivery rate.
OneRail debuted at No. 24 on the 2023 Deloitte Technology Fast
500™, was named for the third year in a row to the FreightTech 100,
was honored as one of Inc. magazine’s Best Workplaces 2023, was
listed on Forbes’ 2023 list of America’s Best Startup Employers and
named to the Inc. 5000 two years in a row (most recently at No. 59,
with 7,409 percent growth). To learn more about OneRail, visit
OneRail.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240506159274/en/
Julia Grove Director of Marketing, OneRail 703-629-5449
julia.grove@onerail.io