Save The Fanfare For Important Inventory Decisions

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Manufacturers and distributors may have hundreds to thousands of inventory items to manage.  You need to maintain enough inventory to satisfy customers and prevent stock-outs without needlessly overstocking shelves.  Keeping tabs on so many items can quickly become time consuming and distract you from other important tasks.  Deploying stronger technology can streamline inventory management, providing the insight and automation that you need so that you can stay focused on the other important inventory decisions.

Not every inventory decision needs your full attention.  There are likely standard items that you replenish each month that don’t require a second thought.  If you are using manual processes or inadequate software programs, you could be wasting valuable time trying to figure out what to order from month-to-month when you should be spending time on other strategic decisions.

Implementing stronger inventory management technology can save time with the easy inventory decisions, as well as support forecasting and more strategic decisions.  The Demand Manager, for example, can automate your safety stock calculations.  You don’t need to waste valuable time with determining what inventory items to order or their quantities.  The Demand Manager can create a forecast for each SKU and auto-detect and deploy the safety stock strategy for that item.  As a result, you can automatically determine the items that are necessary for the season or for that trending product at that time.

The Demand Manager also improves your forecasting accuracy by combining several popular forecasting methods to create best-case forecasting scenarios.  You can create forecasts by product, customer, region, or other variables.  You can also consider historical sales, market insights, and include variables with multiple color or size combinations.  Analyzing so many variables may seem confusing; however, Demand Manager creates the potential scenarios that you can review to determine the best-case outcomes for your business and your customers.

Adding automation to your inventory management decisions can save valuable time when making the easy decisions, giving you more time to spend on the strategic decisions.  Contact RockySoft for more information about adding time-saving automations to your inventory processes with Demand Manager and save the fanfare for more important inventory decisions.

By Jeffrey Porter with RockySoft, Microsoft Dynamics software provider for demand planning

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