How to improve inventory management

How to improve your inventory management

Supply chains are more challenging than ever, but often basic inventory management processes struggle to cope. Introducing inventory optimisation techniques helps you deal with supply disruption and erratic demand. It allows you to improve stock availability with the lowest possible inventory investment.

From inventory management to inventory optimisation

In this eBook ‘How to Ace your Inventory Management’ we explain the concept of inventory optimisation and how it differs from basic inventory management practices. You’ll get an insight into the three fundamental stages of inventory optimisation: demand forecasting, stock classification and dynamic replenishment.

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Download this eBook and discover:

  • Why ‘old-school’ inventory management practices are too basic for today’s supply chain challenges
  • How to strike the right balance between product availability and carrying too much stock
  • The secret to improving demand forecasting and replenishment
  • The benefits of inventory optimisation

How to improve inventory management

Inventory optimisation is being embraced by businesses across the UK – from automotive and building materials, to retail and wholesale suppliers.

Every 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. It’s therefore important to invest in the right stock, so you can optimise turnover and prevent surplus amounts building-up.

The best inventory management strategies optimise stock levels, so you can achieve high service levels (stock availability), while reducing inventory costs.

Tell-tale signs you need to embrace inventory optimisation!

Here’s 6 tell-tale signs that you need to embrace inventory optimisation:

1. Your demand forecasts are often inaccurate.

2. It’s difficult to improve inventory turnover without reducing overall stock levels.

3. Stockouts are a regular occurrence and lead to lost sales and unhappy customers.

4. There’s consistently too much working capital tied-up in excess stock.

5. You have issues with obsolete inventory.

6. It’s challenging managing irregular supplier lead times.

Want to learn more? Get your free eBook on How to Ace your Inventory Management now!

Don’t just manage your stock – optimise it!

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 stockouts 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.

Why EazyStock?

Ensure stock availability

Ensure stock availability

Make sure you always have the right products on the shelf to prevent stock-outs and delight your customers.

Optimise demand forecasts

Optimise demand forecasts

Utilise advanced algorithms to track product demand, accounting for life cycle stages, trends and seasonality variances.

Lower inventory levels

Lower inventory levels

Get rid of excess and obsolete stock, freeing-up working capital for investment elsewhere in your business.

Automate re-ordering

Automate re-ordering

Produce automated order proposals to process in EazyStock or send back to your ERP.

Accurate replenishment

Accurate replenishment

Automatically calculate safety stock levels, re-ordering points and order quantities to ensure optimised inventory levels.

Be smarter with suppliers

Be smarter with suppliers

Place orders more cost-effectively by considering suppliers’ delivery schedules, lead times, discounts and costs.

Improve efficiency & save time

Improve efficiency & save time

Ditch the manual spreadsheets and save time that can be spent on strategy and innovation.

Get a fast ROI

Get a fast ROI

Benefit from rapid ERP integration and get up and running fast with a system that’s easy to deploy.

Trusted by growth-driven companies

Free eBook: How to Ace your Inventory Management

Everyday, businesses deal with volatile market demand and disrupted supply chains. Standard inventory management practices fail to address these challenges.

In this eBook we expose the flaws of typical inventory management processes and introduce some new and extremely effective ways to manage your inventory – using inventory optimisation techniques.

 

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