How do you balance ensuring stock availability while minimizing inventory levels?
With EazyStock inventory optimization software, inventory planning is easy. You can achieve the most ambitious order fulfillment (or service level) targets with the minimum amount of stock. The software’s powerful algorithms work in the background to ensure you order the right quantities of the right inventory. You meet demand requirements without tying-up unnecessary cash.
You might be using ABC analysis to classify your stock, but EazyStock takes this to another level. EazyStock dynamically classifies stock items using several key properties, including demand type, value of annual usage, pick frequency and demand volatility.
Items are grouped into matrices, and service level (stock availability) targets are set for each group.
The result? More granular control over inventory, automated for optimum efficiency.
The days of manually updating minimum and maximum stocking policies are gone. EazyStock does daily calculations to provide the optimum stock levels of each item in each matrix so you can achieve your target service levels with the minimum amount of inventory.
Dynamically re-classifying your items based on the latest forecast and cost information and any supplier constraints, such as minimum order quantities, gives you total control over your inventory levels and capital investment – can your spreadsheets do that?
EazyStock’s inventory planning functionality makes identifying healthy, excess, and obsolete stock easy. A daily snapshot of the health of your inventory lets you drill down for the detail on each item and allows you to pinpoint areas that require action. Whether identifying costly obsolete items or reducing surplus stock, you’ll ultimately improve inventory turnover.
Do you know what would happen to stock availability if you reduced investment? Or how would improving your order fulfillment affect your cash flow?
Thanks to its what-if scenario planning functionality, EazyStock lets you simulate such scenarios before making any decision. Simulating scenarios removes financial risk and helps you make informed inventory planning decisions so you don’t encounter any nasty surprises.