Securing a reliable and cost-effective inventory supply is critical to achieving your fulfilment goals. Whether you have a global supply chain or a localised network, EazyStock has various tools to help you get the most out of your suppliers – from cost-effective ordering to mitigating the risks of supply delays.
You can maximise efficiency by configuring EazyStock to work with your ordering routines and goods-in schedules.
EazyStock’s flexible order calendars adjust reordering to account for supplier shutdowns, such as national holidays, or internal restrictions, such as preventing deliveries on weekends or receiving certain items on particular days.
By creating simple order calendars, EazyStock optimises order recommendations based on how often you want to place orders and when you want to receive them.
When ordering an item that could come from multiple suppliers, how do you choose the best one? Who’s the fastest, most reliable and most cost-effective?
EazyStock automatically selects the best supplier based on their lead times, unit prices and minimum order quantities (MOQs), that can deliver in time to meet target service levels in the most cost-effective way possible, always working to avoid a potential stock out.
Based on the most essential criteria, you can decide which supplier can best deliver your order.
Do your suppliers have annual shutdowns or busy periods when you can’t place orders?
EazyStock lets you create a calendar for each supplier and add the shutdown dates, for example, Chinese New Year or planned turnarounds. The system automatically adjusts lead times, reorder points, order quantities and safety stock levels to ensure enough stock is shipped to cover forecasted demand before the shutdown.
While it can be tempting to accept supplier discounts for placing large orders, you must consider whether the cost of carrying the surplus stock and the risk of not selling it outweighs the discount.
EazyStock’s price break functionality helps you decide whether a large order at a lower price per unit will save you money versus buying smaller quantities more frequently. It does this by considering how much it costs you to hold the stock, order costs, and the risk of the additional stock coverage going obsolete. By adopting EazyStock’s suggestion of the most cost-effective purchasing strategy, you’ll reduce operational costs and optimise stock levels and investment.
If suppliers have minimum order quantities (MOQs) or other contractual order constraints such as minimum order value (MOV), volume weight or container capacity. It’s easy to randomly add other items so you don’t waste space or money just to get the items you need, which results in unnecessary shipments, and unnecessary costs. Filling up correctly can lead to big savings.
Looking ahead to future forecast periods, EazyStock will suggest items with future demand, making the order as cost-effective as possible and preventing excess levels of unwanted stock.