Systematise Forecasting, Planning, and Replenishment Processes

Different types of systems support planners and purchases with their day-to-day work. The most common system in use by the distributor and manufacturing industries is the Enterprise Resource Planning (ERP) system. The ERP systems do not help optimize inventory management.

ERP systems were developed for transaction processing, data collection, and data reporting. Inventory planning and optimization solutions set up the optimal mix between inventory investment and service levels for each inventory item at each location. Review your ERP-system functionality, and evaluate potential add-on solutions, that can help you better manage the inventory challenges we addressed in this white paper.

There is immense potential savings that can be achieved with the right type of solution. Inventory planning solutions keep all your planning parameters up to date and ensure that each item is planned and replenished in the best way. In addition, you get all of your KPIs calculated and updated automatically, so you can follow service level, development of your capital tied up in the stock, backorders, etc., alongside the inventory turnover rate which was the one KPI metric that got all of this started in the first place.