Inventory Optimization: Two Major Challenges
- Customer satisfaction:
Optimal inventory management plays a central role in customer satisfaction. Managers and inventory managers are well aware that effective upstream management, including stock levels, replenishment and delivery times, translates into commitments to customers that are met downstream. This aspect is essential for customer loyalty, a priority for all companies.
- Business Profitability:
Inventory, while crucial, is also a cost center. Buying goods to resell them is the very definition of stock. The value of the stock has a direct impact on profitability. Overstock, exceeding immediate needs, affects the margin achieved and, consequently, profitability. In addition, some products depreciate over time, generating additional costs related to storage.
With eBrigade’s inventory module, you’ll be able to look at past sales trends. Quickly identify high-demand products and adjust your inventory accordingly, ensuring consistent availability.
Inventory Optimization: Four Complementary Levers
- Calibrate Supplies:
Procurement, a crucial step, requires precise answers. It is a question of determining the number of products to be purchased, the prices, the suppliers, and the deadlines. Accurate management avoids costly overstocking while avoiding stock-outs. Different methods, based on forecasts or demand, are used to optimize supplies.
With the “Supplier” module, synchronize your supplies according to the actual demand. Avoid excess inventory with accurate and timely ordering, reducing storage costs.
- Optimize Inventory Outputs:
Streamlining upstream procurement is ineffective if downstream management is not well orchestrated. Large fixed inventories affect cash flow. Various existing management methods aim to optimize stock withdrawals. A good inventory turnover ratio is a crucial financial indicator.
- Organize Storage and Labeling:
Physical storage is often underestimated but is crucial for efficient management. Functional space organization, precise labeling and clear signage optimize operations. Rational use of storage space is essential to minimize costs. Automation, such as barcode scanning, speeds up operations.
With eBrigade, you have the possibility to use our QR code module to benefit from an in-depth follow-up on your eBrigade.
- Choosing the Right Inventory Management Tool:
Spreadsheets are no longer enough to track inventory effectively. Dedicated software, such as an ERP, meets all needs: supply monitoring, automated restocking management, labeling, etc. ERPs follow the entire company.
In conclusion,
Inventory optimization is crucial for customer satisfaction and business profitability. By calibrating supplies, optimizing stock outflows, organizing storage, and choosing the right tools, companies can maximize their operational and financial efficiency. A holistic approach, combining ERP and WMS, offers a complete solution for optimal inventory management.
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