If you manage inventory then yes, inventory optimization is right for you. Maintaining the right level of inventory is important to the success of your supply chain. Like many other businesses, you can strike the right balance with today’s technology.
Controlling inventory levels is a constant battle for manufacturers and distributors. Overbuying inventory stresses cash flow and reduces the funds you need for other business improvements or investments. Running out of inventory can bring manufacturing lines to a halt, resulting in stock-outs and costly backorders. Too many backorders will quickly tarnish your reputation and leave customers looking elsewhere. Enterprise resource planning (ERP) software, such as Microsoft Dynamics® GP, can provide the control and insight over inventory you need to operate at peak efficiency, as well as position yourself for growth.
A comprehensive ERP software solution can provide control over core business functions, including financials, manufacturing, supply chain, project and services management, and more. Microsoft Dynamics GP offers robust inventory management functionality, including the ability to monitor inventory at multiple locations. Sharing inventory between warehouses or manufacturing facilities will help you operate with more efficiency, using leaner inventory levels. You can conserve cash flow by only buying the inventory you need, when you need it. ERP software also provides insight into your customers buying habits as well as your supply chain. You can use historical data to develop sales patterns, identify replenishment patterns, and other trends. Trending data can be used to earmark existing inventory for current contracts, as well as time procurement to the benefit of your cash flow.
Adding automation with Microsoft Dynamics GP also will improve productivity and protect the integrity of your critical business data. This integrated solution will reduce the need to re-enter data from purchase orders to sales contracts to invoices. Reduce information sharing bottlenecks, handling time between ordering and scheduling, and improve accuracy of your orders and product deliveries. This easy-to-use software will enable your team to do more, faster, and with greater accuracy. In addition, the integration will improve communication and collaboration throughout your business – from the front office to the shipping dock.
Optimizing inventory is a constant challenge that can be managed by the right technology. Get the insight you need and monitor your inventory by using a robust ERP software solution, like Microsoft Dynamics GP. Contact The Resource Group for more information about using today’s technology to maintain the optimal levels of inventory for you and your customers.
By The Resource Group, Washington Microsoft Dynamics GP Partner (http://www.resgroup.com/home)