Shelf-Confidence: A Practical Guide to Reducing Out-Of-Stocks and Improving Product Availability in Retail
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Description
Out-of-Stock and unavailable! In 2020, the perfect storm hit when the COVID-19 pandemic caused shoppers to buy food, toilet paper, and other items in a panic. The result was a large number of items were suddenly out of stock, leading to more buying and an outright crisis.
This book takes readers behind the scenes of consumer products retailing, uncovering and explaining the extent, the causes, and the shopper reactions to out-of-stock items. The authors draw on their decades of experience studying the availability of consumer goods to explore how to improve service levels, slash costs, boost efficiency, and enhance customer satisfaction.
Whether you’re a manufacturer, wholesaler, retailer, retailer consultant, researcher, member of the media, or a member of a trade association, you’ll discover useful insights in this well-researched book. Shoppers will also enjoy learning the behind-the-scenes details of how items get to the shelves, and how often they are out-of-stock!
Professor Daniel Corsten is the founding academic of the Efficient Consumer Response initiative, where he researched and consulted for retail and consumer goods organizations such as Procter & Gamble, Unilever, Metro Group, and Sainsbury’s to help them lower costs, understand shoppers, reduce out-of-stock, and create overall sustainable supply chains. Prior to his academic career, he worked for Bayer Leverkusen and AGFA in Germany and the United States. His corporate experience includes supply chain management, marketing and finance, and has worked in the automotive and retail software industries. Mr. Corsten has been Member of Board of Advisors for Profitect Inc. since February, 2013. Mr. Corsten has also taught and researched at St. Gallen in Switzerland, London Business School and the Wharton School at the University of Pennsylvania in the United States.
Thomas W. Gruen has an extensive teaching and academic background. He has served for 9 years as Chair of the Marketing Department at the Peter T. Paul College of Business, where he currently works as Professor of Marketing. Previously, he served on the faculty of the University of Colorado at Colorado Springs and on the faculty of the Goizueta Business School at Emory University from 1996-2001.
He holds Ph.D., MS, and MBA degrees in Marketing from Indiana University’s Kelly School of Business.
His research focuses on the management of customer relationships, including retail out-of-stocks, category management, sales and marketing outsourcing, and customer-to-customer value creation. His research has been widely published including the Harvard Business Review, Journal of Marketing, Journal of the Academy of Marketing Science, Journal of Retailing, Journal of Business Research, and Journal of Applied Psychology.