In this eGuide, we discuss why traditional inventory management strategies are no longer effective at dealing with today’s dynamic marketplaces and supply chains.
We then look at how inventory optimisation techniques could provide the answer.
Every eCommerce business that carries inventory needs effective processes in place to manage and regulate the supply, storage and distribution of stock.
Inventory takes up valuable warehouse space and ties-up capital, so it’s important to invest in the right stock, so you can optimise turnover and prevent surplus amounts building-up.
The best eCommerce inventory management strategies optimise stock levels, so you can achieve high service levels (stock availability), while reducing inventory costs.
Many businesses are still using spreadsheets or basic inventory management systems to forecast and replenish their stock. These traditional methods cannot deal with fluctuating demand or variable supplier parameters – leading to stock-outs or a build up of inventory.
More and more companies are therefore turning to inventory optimisation tools, such as EazyStock.
EazyStock connects to your current stock system and uses advanced algorithms to bring accuracy and speed to inventory management.
The cloud solution automates demand forecasting, stock classification and reordering calculations, producing optimised order recommendations.
Inventory managers can ditch the spreadsheets, giving them more time for strategic decision-making and looking after suppliers and customers.
Product availability is key to eCommerce competitiveness. But how can you fulfil every order without tying up too much capital in surplus stock?
In this eGuide, we look at how you can improve your inventory management processes – using inventory optimisation techniques.