Acumatica Inventory Management Solution can help Distributors save money in several ways. One way is by providing a highly productive inventory planning solution integrated within the core warehouse distribution management software. Most wholesale distributors find inventory planning to be a challenging task, resulting from the use of outdated tools including spreadsheets. Complexities in supply-chain management further add to the woes of optimizing inventory. The real challenge is to strike a balance between stock-outs of high demand goods and excessive inventory.
Inefficient inventory management leads to additional costs that eat into overall company profits. Inventory optimizing technology helps you plan your stock levels in a manner that frees up capital, improving the financial health of the company. This happens through advanced forecasting and better stock replenishment that your spreadsheets aren’t capable of handling.
Inventory Planning Challenges that Most Distributors Experience
1. Most Distributors strive to achieve the optimal stock level. However, they are cautious not to run out of stock on high-demand items. In the end there is always some extra inventory, carrying which costs the company additional money.
2. Common inventory planning tools are incapable of factoring in variability in demand while calculating optimal inventory level. Another factor that influences inventory estimation is supplier delivery practice. Antiquated tools fail of account for these dynamic factors hence arrive at erroneous forecasts.
3. Poor forecasting runs the risk of stock-out resulting in unhappy customers.
Savings Begin with Acumatica Inventory Planning Tool
With Acumatica inventory planning you can now make the most of your existing data. Once your data is fed through the software, the inventory planning tool analyzes that data to estimate your optimal inventory level. The tool furthermore, takes into consideration management targets and objectives in calculating inventory level.
The end result is improved ability to satisfy orders from stock at hand, simultaneously reducing excessive inventory. All this translates into greater savings for the company resulting from carrying cost reduction and availability of more working capital. Savings also occur in the form of time. Automation eliminates multiple data entry requirements.
7 Reasons that makes Acumatica Inventory Planning Tool Indispensable
1. Acumatica believes in keeping it simple. Unlike other solutions, this inventory optimizing tool is very easy to use.
2. User-friendly dashboards are designed to provide quick, impromptu view of inventory health. Get better a better control of your business by knowing day-to-day activities. Most importantly, get to know what is not working and take immediate action before things go south!
3. Automation enables spontaneous application to advanced forecasting techniques per item and location.
4. System recommends order schedules on the basis of current stock levels and forecasted stock.
5. The system allows you to move beyond mere stock accounting. Enables you to factor in overall company targets in formulating inventory policies and measurement metrics.
6. Stocked items are classified on the basis of value of historical sales, so you recognize the most important items in terms of sales value. Classification also takes into account items with high unit sales.
7. Facilitates analysis of supplier performance.