UK-based retailer Toolstation is boosting its inventory management as it seeks to enhance the customer experience and support its growing multi-channel retail operation.
The company, which is owned by builders’ merchant and home improvement retailer Travis Perkins and one of the UK’s largest suppliers of tools, accessories and building supplies, , has integrated a supply chain platform from Slimstock that aims to increase product deployment in its multi-channel retail business in order to create a more efficient and connected supply chain planning operation.
The platform addresses challenges related to forecasting, inventory management and replenishment, with the aim of simplifying processes and improving product availability for a better customer experience.
With a significant product range of more than 25,000 items available online and across over 590 stores nationwide, the company said that inventory optimisation is important in ensuring customer satisfaction.
Jonathan Rendall, supply chain manager at Toolstation said: “To ensure fast and reliable service in stores and online as our business grows, we need an integrated and scalable supply chain structure.”
As part of the transformation, Toolstation is also strengthening its planning team by updating skills and improving cross-functional collaboration.
The move comes after Lincolnshire Co-op last month confirmed the rollout of a new inventory management system designed to provide more accurate and efficient stock management and drive growth across its diverse operations.
In July, Spanish lifestyle menswear brand Scotta also announced the roll out of a new AI-powered in-season inventory platform to optimise stock management.
Toolstation recently announced that Lakhvir Sanghera would become the company’s new managing director.
She takes over from Angela Rushforth, who is retiring after 10 years which Travis Perkins.
