VIEWPOINT


Confidence rating of 10-45% l Critical, with a Stock Confidence rating of under 10% This makes it obvious which areas to look at first when conducting your stocktake, so you are always on top of the most critical stock levels and avoiding as many out of stocks as possible.


Flexibility and control The user has total control over the classification parameters, so how you set them is up to you, and you can change them if they’re not working as well as they should be.


You can therefore take into account all the variables and levers in your own business to determine where you feel each level should be set, based on things like how often stock is checked, stock turn metrics, order levels and so on.


Stock Confidence is calculated automatically by the system so you don’t need to do anything to activate it, and it can be validated every time you complete a stock check so you can see for yourself how accurate it is.


Never have merchants and the


supply chain been under so much pressure from so many different factors, from Covid-19 to Brexit. More and more merchants are choosing digital solutions to help make their operations more efficient. Ecommerce is a natural progression and is increasingly becoming the common expectation of both provide and commercial customers.


But with the rise of digital and ecommerce platforms comes an intensified need for operational management systems which can keep pace with the front-


end platform – that is, digital foundations to make the whole thing run smoothly. A customer placing an order on your website is far more likely to abandon their entire basket on the basis of one or two out-of-stocks and look elsewhere than someone in- branch would be.


Customer loyalties online are more fickle, and demand a higher level of service and accuracy to fulfil those expectations. The better their experience, the more likely they are to return, and to write a positive review which


feeds trust levels and reputation. The more confidence you have in your stock, the more confidence your customers will have in return.


Automatic accuracy Also, as more ERP and inventory management systems move into AI in areas like auto-ordering and auto-replenishment, so it becomes more important to have a really accurate picture of your stock levels and the erosion rates of your stockholding. Reluctance to trust digital intelligence is understandable, but again with confidence comes comfort, and the more confident you are in the metrics in your system, the simpler these new advances will be to implement.


Stock Confidence feeds naturally into every area of the business, from more efficient processes and ordering systems to better customer service and less wasted resources. It is a genuine innovation and a genuinely useful one for merchants, allowing unparalleled optimisation of stockholdings. It is a true example of technology as a tool, working hard to make merchants’ lives much easier. BMJ


CARTEL CONSTRUCTION FIRMS MUST ‘COME CLEAN’ TO AVOID FINES


Emma Ward of law firm Nelsons, and Midland Lead’s solicitor, has advice for any construction firms involved in cartels - don’t. The recent fines meted out by the CMA bear her out.


Construction industry firms that have been involved in anti- competitive practices must “come clean” if they want to minimise the inevitable fines they will face. The warning comes after the Competition and Markets Author- ity imposed fines totalling more than £9m on two of the UK’s largest suppliers of rolled lead for breaking competition law. Following an investigation into suspected cartel conduct, Hertfordshire-based firms Associated Lead Mills Ltd and H.J Enthoven Ltd (trading as BLM British Lead) admitted their roles in anti-competitive arrangements and have been fined £1.5m and


£8m, respectively.


After handing down the penal- ties, the CMA’s executive director of enforcement, Michael Grenfell, said the construction industry was firmly under the CMA’s spotlight and those that enter into anti- competitive arrangements run the risk of large fines.


Penalty plans


The CMA has made it clear it is placing a firm focus on the construction industry, and any companies entering into illegal ar- rangements that restrict competi- tion will be penalised.


If you think you or your com- pany might have been involved


January 2021 www.buildersmerchantsjournal.net


in anti-competitive activity, you should seek legal advice on how best to minimise liability. The CMA has a leniency programme – this allows a party to anti-com- petitive conduct to avoid fines and prosecution in exchange for reporting the arrangement and cooperating with the investiga- tion.


The first cartel member to re- port and provide evidence of anti- competitive arrangements will be granted total immunity from fines and criminal prosecution for any of its co-operating current or former employees or directors, as well as protection from director disqualification proceedings for all


of its co-operating directors. This is as long as the CMA is not already investigating the cartel, does not otherwise have sufficient information to establish its existence, and the other condi- tions for leniency are met.” If unable to take advantage of the leniency program, a business should consider whether there are other ways to minimise liability: in this case, it is worth noting that


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