Frustrated By Foggy Forecasting? Automated Inventory Planning Can Brighten Your Day

Manufacturers and distributors have to be able to access accurate data in order to respond quickly to changing economic conditions and customer demands. Spreadsheets and other specialty software can be confusing and overly complicated, which can conceal or skew the very data that you need to make strategic purchasing decisions. If you can’t seem to find reliable data to make better forecasts, then replace inadequate methods with the Inventory Management Suite.

Many businesses utilize specialty software programs or other disparate systems for customer orders and inventory management. Physical inventory counts often become an important part of making sure that the inventory count is accurate on the spreadsheet before promising a customer a delivery date. Delays in data-sharing and redundantly entering data from one system into another can lead to inaccurate data and additional delays in making decisions, which can have an impact on cash flow, inventory counts, and customer satisfaction.

Gain greater control over inventory with the PlanningEdge, a forecasting and demand planning solution that integrates with your enterprise resource planning (ERP) solution. You can get a closer look at safety stock and save money from blindly overstocking the warehouse while also reducing stock-outs. Unique SKUs can be used when developing forecast scenarios and you can create safety stocking strategies for specific products or product lines. You can employ a number of forecasting scenarios that include business item-centric, customer-centric, or other blended models that offer additional options when strategizing procurement. You can take seasonality or other influences into account and develop more accurate and realistic forecasting scenarios. This flexibility and rich insight offers greater control over inventory, safety stock, and fill rates, which improves customer satisfaction as well as profit margins.

If you are frustrated with inefficient systems or entry-level solutions that aren’t meeting your needs, then it’s time for a change. Be proactive instead of reactive with inventory management and replace inadequate systems with stronger technology. Contact PlanningEdge to discuss your inventory needs and the powerful inventory management solutions that can provide greater control and insight with inventory and forecasting.

Posted on: November 6, 2017