Two new ECR Retail Loss reports explain how to define inventory record accuracy properly – and how to embed it as a strategic capability to drive sales and customer satisfaction

Inaccurate inventory records cause severe disruptions in the retail sector: they reduce product availability, cause shrink and waste, and ultimately lower sales. It is one of the most expensive and underrated problems in retail operations. Our new research looks at different ways for measuring inventory record inaccuracies (IRI) and how retail companies can embed IRI management in their organizational processes.

Hosted by the Institute of Production and Supply Chain Management (PSCM), the event explored human-centred and technology-driven decision support in logistics — focusing on how human expertise and emerging technologies can jointly enhance decision-making in logistics and supply chain management.

This week, we had the pleasure of hosting Prof. Jagat Shrestha and Dr. Rojee Pradhananga from Tribhuvan University, IOE, Pulchowk Campus, Nepal, for a one-week research visit to our institute.