Prime Resources Gains Competitive Advantage in Demand Planning

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About Prime Resources Corporation

Prime  Resources  Corporation,  doing business as Prime Line, is a leading corporate promotional products supplier of logo apparel, headwear, bags, drinkware, office, sports, technology, and promotional giveaway items. Prime Resources can customize most products to a client’s specifications. They market over 1,200 customer branded products in 20 categories through distributors and their online catalog.

Challenge

Prime Resources Corporation was using an on-premise, demand planning tool that was connected to their legacy ERP system. This configuration created several problems that affected their inventory decisions. When they chose to move to Oracle NetSuite, they required their demand planning tool to be seamlessly integrated with NetSuite. They wanted real-time access to their legacy sales data so they could generate accurate and timely forecasts. Prime Resources also wanted its customers to benefit from any volume discounts made available by bundling customer orders, seasonality adjustments, and other factors.

“PlanningEdge gave  us  access to a lot more timely data that helped us make better inventory decisions. By improving our demand forecasting and automated supply, we increased our profitability and enhanced our customer’s experience, all in less time than it took before.”

Daniel Bock, Director of Purchasing | Prime Resources Corporation

Solution

Along with implementing NetSuite and effectively automating the company’s business operations and simplifying IT management, Prime Resources added the seamlessly integrated, cloud-native demand forecasting solution, PlanningEdge.

“PlanningEdge is smart. It dynamically knows how to adjust our orders based on historical data and flexibly manage locations and even some customer dimensions. Two months ago, we finalized settings to lead time and safety stock and have not changed them since!  Planning Edge has given us much more visibility into our forecasts and the hub/ spoke model seems to be functioning properly.”

Ryan Kirchmeier, Inventory Analyst | Prime Resources Corporation

Results

With the power of the PlanningEdge solution, Prime Resources was able to explore adjustments to different variables to better suit their business. They expect to see further improvements in:

  • Improved buyer productivity
  • Increased visibility across component hubs and spokes
  • Accelerated process and SKU standardization and integration
  • Increased cross-functional collaboration

NetSuite and PlanningEdge Enable Accurate Inventory Forecasting

From demand data extracted from NetSuite, PlanningEdge provided daily updates across over ninety-thousand SKU’s. PlanningEdge’s unique algorithm processed three years of historical data from NetSuite and produced a two-year forecast that ideally fits each inventory item, and is updated daily. This flexible solution was easily adjusted to accommodate seasonal requirements, user-defined inputs, and other variables. The result was a daily demand plan with recommended stocking quantities and inventory replenishment to assist immediate operational needs, as well as long-term planning and  profit maximization. Additionally, because of the close integration, PlanningEdge can automatically trigger purchase orders that helped Prime Resources and its affiliates to optimize their production, capacity, and workforce.

“NetSuite and PlanningEdge is a very robust solution that gives us  faster feature set updates with higher availability and familiar workflow with our NetSuite integration. We also have access to the full data set to gain visibility to manage the business better, and balance supply and demand forecasting to improve their bottom line.”

Daniel Bock, Director of Purchasing | Prime Resources Corporation