Inventory Replenishment and Forecasting – This item management tool allows our Users to be able to predict stocking levels required to maintain appropriate service levels based on such factors as sales history, vendor lead time, safety stock, item popularity, and customer buying patterns. You can also add additional parameters as your company needs. The key to optimum inventory management is to strive to maintain high service levels (no out-of-stocks) while keeping inventory costs low. The concept of just-in-time inventory management accomplishes that by keeping only what stock you need each week to meet your customer’s changing demand.
Inventory Replenishment and Forecasting Features
Ability to create custom stocking plans based on a variety of factors such as stocking levels, item product ranking, and vendor requirements
Reorder points for each item automatically change based on customer sales history
Different calculation models can be used and assigned to different items based on a variety of factors
A Purchase Advisor report can be run to show the effect of an order point recalculation before and after the order point field is updated for each item record
Exceptions, sales pikes, or temporary projects can be filtered out of sales history calculations in order to ensure order points accuracy
Different scenarios can be tried with different service level values in order to optimize stocking levels
Sales history date ranges can be changed to accommodate unique customer needs
More Features
