EazyStock vs your ERP: Who wins the inventory management battle?

4 min läsning

Tags: Blog, Demand forecasting, Inventory management, Purchasing & replenishment, Technology

Peter Drakeley, Head of Global Customer Success, EazyStock

Peter Drakeley   26 mars 2018


EazyStock vs your ERP for inventory optimization, who wins the battle

Innehåll

  1. Inventory Management and forecasting in your ERP
  2. How is EazyStock different?
  3. Enhance your ERP Inventory Management
  4. You need a best of breed tool to manage your inventory like a pro

One of the most common questions we receive is ”We already have an ERP inventory module. Why do we need EazyStock?” Who could answer better than one of our customers who uses EazyStock with Dynamics NAV? “Through better inventory management, we’ve been able to support our stock management and procurement processes much better, which has even resulted in higher profits!”[1]

However, in this blog post we will explain in a little more detail why EazyStock is different from your ERP inventory management capabilities and what value it brings to your business.

There is an abundance of ERP systems on the market, with broad and varying functionality, and they all work in slightly different ways. However, when talking about ERPs designed for distribution companies, they all have some things in common.

Inventory Management and forecasting in your ERP

Some ERPs includes basic forecasting and some inventory management functions. In Microsoft Dynamics NAV for example, you can set values for reorder points and safety stock levels. But these all have to be entered manually, and they don’t get updated unless you change them. This means you need to calculate desired levels of each and every product, enter the values into the ERP and then keep track and update them when something in the demand pattern changes.

This might be manageable when you have a handful of products, but as your business and product portfolio grow, the snowball effect kicks in and you will soon have costly excess inventory that affects the bottom line and no effective way to manage it.

How is EazyStock different?

Demand type classification

Every product has a lifecycle with a demand pattern that changes over time. EazyStock tracks these changes automatically and adjusts the forecasting calculations accordingly. EazyStock not only classifies the products into 9 different demand types, but also classifies them in a second dimension depending on value of annual usage and number of picks. This makes forecasting more precise than a regular ERP which does not take demand types into account at all.

Target service levels

You want to have the right products in stock to be able to meet your customers’ expectations on delivery times. But service levels can differ a lot between industries, businesses and markets. Do you know the optimal service levels of your inventory? While many ERPs have a setting for stock days that you have to update manually, EazyStock calculates and determines your optimal service levels so that you know exactly how you need to deliver in order to keep your customers happy.

optimizing the warehouse with better ERP inventory management

Live service level simulation

How much would it cost to raise service level with 5%? What impact would that have on your business? With EazyStock’s live service level simulation you will be able to make informed, strategic decisions regarding service levels to your customers.

Supplier planning

Working with multiple suppliers can be a challenge, but EazyStock makes it easier with functionality like dynamic lead-times, order scheduling and an order calendar which keeps track of production schedules, downtime and holidays.

Calendar Push Pins For Purchasing & Replenishment

Advanced Algorithms

EazyStock uses the same backend as our parent company Syncron, a system used by world leading companies like Mazda, Hitachi, Volvo and JCB. The software includes advanced algorithms for trends, seasonality, dynamic safety stock calculations and more, and we invest heavily in R&D to make sure our tool is the most powerful on the market.

Automated alerts

Are you tired of having to go through order lines regularly to make sure you don’t miss anything crucial? With EazyStock you don’t have to; the system will generate alerts for everything you need. You will get notified when you need to replenish, have outliers, or run the risk of a stock out. This makes your life much easier, and you will get time to focus on more value-adding activities.

Reports at a glance

EazyStock is made for small- and medium-sized companies, and the KPI dashboards cover everything you need to track on both product and group levels. This includes stock health analysis, service levels and stock turn.

Enhance your ERP Inventory Management

ERP Trends for 2018 including eCommerceEazyStock connects easily with your ERP and works as a seamless extension to your ERP inventory management capabilities. While your ERP may keep track of your inventory, EazyStock makes sure that you have the optimal inventory in stock, automates procurement and saves you time and money. Service levels typically go up and stock levels down while purchasing and inventory managers get time for more value adding activities like innovation and strategy.

You need a best of breed tool to manage your inventory like a pro.

In today’s digitalized world it’s not enough to have a rough inventory overview. As product ranges grow and customers demand faster deliveries, you need more precise forecasting to stay competitive. Many of the modern ERP developers are going back to focusing on their core while building out a network of ISVs offering seamless integrations with best of breed tools. EazyStock is in the sweet spot for this and with our ready-made ERP connectors you can start optimizing your inventory with a click.

See a demo of EazyStock to see how to optimize inventory

[1] Ronald van Buul, Invicta Watches https://www.eazystock.com/resources/invicta-watches-uses-eazystock-to-provide-a-high-service-levels/