Published on: June 19, 2014
in: Company News
Inventory management can be a challenging task in and of itself. Without the right technology, however, it can be next to impossible to get right. In fact, of all the warehouse management challenges manufacturers and distributors face, inventory management has been consistently named number one for the past several years. As many companies have realized, poor inventory management can directly impact your productivity, customer satisfaction, and profitability. Being able to accurately identify your top inventory challenges and react appropriately, therefore, should be your number one priority. Having a solution capable of providing you with the insight you need into your inventory issues is crucial, for it can lead you to true and lasting success.
Since inventory management is already one of the largest expenses a business has to make, many manufacturers and distributors are looking for ways to manage their inventory in cost prohibitive ways. By keeping a close eye on inventory levels and adjusting to customer demand, manufacturers and distributors can lower warehousing costs and prevent the loss of precious capital invested in stock. These efforts will have a positive impact on the company’s bottom-line and ensure the company is prepared to meet customer demands in a timely and efficient manner.
While these efforts can certainly make a difference, how do manufacturers and distributors arrive at a place where they can do this?
The answer is simple: inventory management software.
With the right inventory management solution, manufacturers and distributors can obtain the visibility they need to make the right decisions as far as their inventory is concerned. While there are many inventory management solutions on the market, we recommend Sage Inventory Advisor for all of your inventory needs. With Sage Inventory Advisor, you have instant access to the information you need to effectively manage you inventory levels and solve problems as they arise. The software identifies the top 5 inventory issues every day, giving you valuable insight into your unique inventory situation and allowing you to focus on the issues that require immediate attention. This will help you prioritize planning, stocking, replenishing, and forecasting for greater efficiency.
The introduction of Sage Inventory Advisor has done wonders for those in the manufacturing and distribution industry. This cloud-based solution is not only easy to install, but it is also affordable, allowing companies to achieve a full return on investment (ROI) quickly and easily. It helps companies reduce stock outs, excess inventory, and working capital, as well as provides the visibility businesses need to stay ahead of the game. The software provides businesses with early warnings of stock outs, potential stock outs or surplus orders. It recommends optimal replenishment and automatically calculates maximum/minimum levels, saving companies a significant amount of time and effort. The dashboard feature gives companies instant access to the items needing their immediate attention so they can move quickly on any potential issues. Software users can even amend orders in Sage Inventory Advisor and send them back to the company’s ERP system for processing, streamlining the process and saving valuable time.
Take a look at the primary benefits manufacturers and distributors just like you are experiencing after implementing Sage Inventory Advisor:
- Reduce excess inventory by 10% – 15% and improve inventory turns
- Improve fill rates by 2% – 10% and eliminate stock outs
- Reduce working capital and free up 15% – 20% of cash tied into inventory
- Reduce time spent on forecasting by as much as 50%
The benefits of using an inventory management solution to improve your inventory control are astounding. Contact Mindover Software today to learn more about how Sage Inventory Advisor can help you identify your top inventory issues so you can focus on making improvements.