Too Much, Too Little, Too Late

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If you hum those words as you walk through the warehouse, then you could either be close to finalizing the latest pop song or wondering how you can fix problems with inventory.  Too much inventory can eat up cash flow, too little can cause expensive back orders, and delivering inventory too late can stress customer relationships.  Striking the right balance requires greater control and insight, which means using the right business management solutions.

We all know that customers are not happy when they see a packing slip showing an incomplete order.  It doesn’t look good when orders are shipped in stages, over a period of time, because it takes too long to collect inventory from multiple warehouses or because there was an unexpected shortage.  In order to reduce back orders, it may be tempting to buy more inventory items, in greater quantities, that you really need.  However, over-stocking the warehouse can be just as expensive as managing stock-outs.  It is possible to strike the right balance between too much and too little by implementing the right inventory management solution for your business needs.

Turn guesswork into accurate demand-forecasting with robust inventory management solutions, such as the Demand Manager and Requirements Planner by RockySoft.  You can use these solutions, along with an enterprise resource planning (ERP) solution to maintain real-time inventory levels, without time-consuming physical counts.  Monitoring inventory in real time will make it easier to identify trends with hot products or product lines. As you identify what your customers are buying, in what quantities, and when, you can then make strategic decisions that will satisfy your customers while protecting your bottom line.  Trending inventory data can be used to create replenishment plans that will help you maintain appropriate inventory levels, without overbuying or under-stocking popular products, or getting stuck with excessive amounts of obsolete products.

You don’t need to walk through the warehouse wondering if you have too much or too little inventory or worry about delivering it to customers too late.  Get greater insight and control by implementing a powerful inventory management solution.  Contact RockySoft to see how our solutions can help you maintain the right inventory, in the right quantities, at the right time.

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

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