Out-of-stocks cost retailers and brands billions of dollars annually in lost sales and loyal customers. GlobalWorx is transforming that paradigm.
RICHMOND, VA. – GlobalWorx™, the first communications platform for the food retail industry, is working aggressively to fix a problem that has plagued the retail supply chain for decades. The company has created a revolutionary software solution to improve communications between trading partners so retailers and their suppliers can better understand and address the opportunities that result in out-of-stocks.
“Out-of-stocks remain a huge problem for all grocery retailers and suppliers, representing 10% of sales or more across the store and an even higher percentage of more profitable direct store delivery items. GlobalWorx has gone all in with our efforts to build out the technical infrastructure that will enable companies to optimize shopper satisfaction by having the products they want when and where they want them,” said Bill Lecznar, President & CEO of GlobalWorx.
To bolster service levels at retail, GlobalWorx is launching a series of upgrades to its technology that will drive shelf-aware execution for all trading partners, including:
- Training: GlobalWorx has initiated a series of easy to navigate training videos, which, along with supplier specific training programs, will make using the GlobalWorx system efficient and effortless.
- Reporting: GlobalWorx is in the process of developing even better ways of identifying lost sales opportunities within the retail supply chain; making these opportunities immediately actionable by way of enhanced reporting alerts. These features will allow roll-up reporting for manufacturers at national levels.
- Contact Management: GlobalWorx is collaborating with suppliers on a national level to engineer a brand new initiative which will help manage the ever-changing contact lists associated with suppliers and grocery retailers. This initiative will allow manufacturers to develop and update contact information faster than ever before.
“We expect this new series of upgrades, combined with recent additions to our team and developments in our customer service processes, will help our clients dramatically grow their sales. Retail shelf-aware execution will also create opportunities for companies to build shopper loyalty and even recapture sales lost to ecommerce competitors,” said Lecznar.
GlobalWorx synchronizes the extended retail supply chain by managing the complexities of communication between grocery stores and their service providers. The platform is a multi- channel system that offers benefits to vendors, distributors, retailers, and mutual customers by enabling retailers to relay service opportunities to the personnel servicing individual stores with greater efficiency. In addition, GlobalWorx connects the entire retail environment, including data analytics systems, to produce actionable information for all trading partners.
GlobalWorx, Inc., a privately-owned company based in Richmond, VA, delivers award-winning technology to optimize task definition, communication, execution and measurement across trading partners in the grocery retail supply chain. The GlobalWorx national platform helps companies grow profitable sales and enhance the shopper experience by resolving out-of-stock issues while decreasing transaction costs. More information is available at www.goglobalworx.com.