inventory management erp solution

As a comprehensive ERP solution, Centerprism fully addresses Inventory Management operations with forecasting tools designed to allow you to streamline purchasing while increasing stock turns and service levels. Centerprism’s Replenishment Tool leverages item sales history along with product ranking, item transfers, and back ordered allocation to create optimized inventory levels. Centerprism’s PrismView™ and PrismSummaries™ item information analysis, alerts, and tighter integration to the item maintenance screens allows quick access to critical information. Centerprism expands functionality with additional tables to accommodate Item Catalogs; Alternative, Equivalent and Complimentary items; Kits & Assemblies; and Competitor information stored in the item maintenance screen.

Alternatives and Equivalents
This Centerprism feature of Inventory Management gives the user the ability to offer substitute items to a customer for a product item that is unavailable. Equivalent items are identical items offered by different vendors. Alternate items are similar items that serve the same function even though they may differ slightly in make or design. Both tables are stored in the main item maintenance screen.
Inventory Management Catalogue Management
This Centerprism solution gives the User the ability to store items not typically stocked in the warehouse to a separate database for retrieval at order entry. Our Users can search the item catalog simultaneously with the regular item database. Catalogs are an ideal tool for keeping consistent pricing and item information for special order, rental or repair items.
inventory management forcasting tool
This Prism Forecaster™ is an item replenishment tool that allows our users to be able to predict stocking levels required to maintain appropriate service levels based on factors such as sales history, vendor lead time, safety stock, item popularity, and customer buying patterns. Additional parameters are available with built in models that can easily be deployed. The key to optimum inventory management is to strive to maintain high service levels (no out-of-stocks) while keeping inventory costs low. The Just-in-time inventory management concept is the goal which is achieved by keeping only what stock you need each week to meet your customer’s demand.
Inventory Management Kits and Assemblies
This functionality allows items to be combined into a unique inventory SKUs to be sold as a single entity at order entry. Kits or assemblies can be combined as they are sold at order entry or pre-made to stock. If pre-made to stock, component items’ quantity on hand will be subtracted and QOH of kit or assembly SKU is increased.

A dedicated ERP system has proven to increase the average inventory turn ratio by 2.9x. A Grant Thornton study reports an average industry inventory turn of 4x annually, which means that Centerprism customers have the potential for a 62% increase in inventory turnover.

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