Tracking Multiple Inventory Methodologies

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Your customers have different needs in the products they buy, as well as when they buy them.  Trying to maintain safe inventory levels can become confusing when some customers need weekly replenishments and other’s need it monthly or quarterly.  The right technology can make it easier to maintain the right levels of inventory without maintaining too much “buffer” stock.

Some customers have high replenishment frequencies, while others have slower replenishment rates, and there could be customers that require quicker turnaround for some products but not for others.  Keeping an eye on multiple targets can be challenging, as well as very confusing.  You want to make sure that all of your customers get the products they need, when they need them; however, you also want to make sure you are protecting your profit margins at the same time.  Getting any part of this equation wrong can result in unhappy customers or an unpleasant bottom line.  Don’t trust complicated inventory needs to basic software, make sure you have a robust demand planning solution such as the Demand Manager by RockySoft.

Utilizing the right technology is critical when managing complicated inventory scenarios such as the need for multiple inventory methodologies.  Controlling inventory that is replenished at different frequencies for customers is a challenge that you can manage with the Demand Manager.  Within this solution, you can easily switch between weekly and monthly forecasting scenarios so you can analyze the different replenishment options and choose the right outcome for both your customer and your business.  You can connect products and customers, products by region and customer, and other forecast variables to get potential forecasting scenarios.  Manually or automatically manipulate the data and analyze the results to come up with a forecast that will satisfy both your customers and your business goals.

You can improve forecasting accuracy, get closer to appropriate inventory levels, and improve customer responsiveness by using Demand Manager to evaluate these complicated inventory activities.  Maintain less inventory, avoid costly stock-outs, and save money that may be better spent in other areas of your business.  In addition, the added automation from Demand Manager takes the guesswork out of the equation and saves time when collecting the information needed to evaluate the different forecasting scenarios, as well as making these important inventory decisions.

Get greater control over complicated inventory management activities by implementing a robust demand planning solution such as Demand Manager by RockySoft.  Contact RockySoft for more information about managing multiple inventory methodologies to your competitive advantage.

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

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