Does On-Shelf Availability Matter for Bottom Line Results?

Promoting and Advancing Petroleum Marketing, Retail Grocery, and Convenience Stores in West Virginia

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OMEGA is a West Virginia-based organization dedicated to supporting and advancing the business interests of the state’s petroleum marketing, retail grocery, and convenience store industries.

As a network of over 225 locally owned businesses, OMEGA actively promotes cooperation, advocates for favorable legislation, and provides education and resources to its members. With over 50,000 employees, OMEGA members significantly contribute to the state’s economy, generating more than 10% of all state taxes and supporting local communities through scholarships, charitable donations, and civic involvement.

OMEGA is committed to fostering industry growth while serving West Virginians with essential services like fuel, food, and convenience.

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OMEGA offers three types of membership: Convenience Store Members, Petroleum Marketer Members, and Grocer Members, all of which play a vital role in providing fuel, food, and essentials across West Virginia. As a liaison with state and national agencies, OMEGA works closely with organizations like NACS, PMAA, FMI, and the N.G.A. to advocate on behalf of its members.

We keep members informed through newsletters, legislative updates, an online resource hub, and educational seminars. Additional member benefits include access to the Encova Workers’ Compensation Discount Program and participation in our annual Trade Expo and fundraising efforts for children’s charities. OMEGA is here to support, advocate, and enhance the success of our industry members.

Despite many years of good faith efforts by manufacturers and retailers, the average out-of-stock rate remains a stubborn 8 percent, often exceeding 10 percent for promoted items. The potential revenue loss combined with the harm to shopper satisfaction and loyalty is a big challenge shared by all in the industry.

By: Daniel Triot, Senior Director, FMI & GMA Trading Partner Alliance <img src="http://www.fmi.org/images/default-source/photos-for-staff-use/general-merchandise/20151208-fmi-409-web.tmb-large-350-.jpg?sfvrsn=1" data-displaymode="Thumbnail" alt="20151208-FMI-409-WEB" title="20151208-FMI-409-WEB" style="float: right; margin: 10px;" /> If you don’t have a product in store or if you don’t know if you have it, you can’t sell it! Despite many years of good faith efforts by manufacturers and retailers, the average out-of-stock rate remains a stubborn 8 percent, often exceeding 10 percent for promoted items. The potential revenue loss combined with the harm to shopper satisfaction and loyalty is a big challenge shared by all in the industry. On-shelf availability has been a key focus for the FMI/GMA Trading Partner Alliance (TPA). A <a href="http://www.fmi.org/forms/store/ProductFormPublic/solving-the-out-of-stock-problem">white paper developed</a> by the group identified gaps in metrics/data, process/practice, organization and technology that results in several recommended actions which are being validated via retailer-manufacturer learning pilots. Acceptance and adoption of a common OSA definition is an initial but critical step in the journey to bring on-shelf availability to a covetable 98 percent. TPA is working with <a href="http://www.gs1us.org/">GS1 US</a> and both fully support these efforts to help industry  move,  at a minimum,  to a common definition of “Zero on Hand,” which is the number of instances when an authorized item's perpetual inventory falls to zero or below for that item regardless of where it is located in the store. <a href="http://www.gs1us.org/resources/gs1-connect-conference/agenda/agenda-by-track/grocery?utm_source=TPA&utm_medium=Referral&utm_term=Grocery_Track&utm_content=CTALink&utm_campaign=GS1_Connect_2015_Email"><img src="http://www.fmi.org/images/default-source/blog-images/gs1-connect-promo.tmb-small.png?sfvrsn=1" data-displaymode="Thumbnail" alt="GS1 Connect Promo" title="GS1 Connect Promo" style="float: left; margin: 10px;" /></a>To achieve improved on-shelf availability, trading partners need to focus on implementing full supply chain visibility. What does this mean? If you can quickly determine what phase your product is in its lifecycle (last known location, on route to delivery destination etc.), you can improve processes to ensure products are available where customers want them. Learn more about what best practices drive successful implementations for supply chain visibility during the “<a href="http://www.gs1us.org/resources/gs1-connect-conference/agenda/online-program">Does On-Shelf Availability Matter for Bottom Line Results</a>” session at <a href="http://www.gs1us.org/resources/gs1-connect-conference">GS1 Connect 2016</a> in Washington D.C. on June 3 at 11:00 am. I’ll be joined by representatives from <a href="http://www.gs1us.org/">GS1 US</a>, Wegmans and Mondelez to discuss this topic in more depth.

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Supporting West Virginia Communities

OMEGA members play a vital role in West Virginia, supporting communities through substantial tax contributions and a wide-reaching presence across the state. With over 55% of the population living in border counties, our members are dedicated to serving both local and regional needs. Beyond business, we’re proud to give back, having contributed over $3.1 million to children’s charities since 2003, reflecting our commitment to making a positive difference.