Advanced Inventory Management

Automatically determine inventory levels.

Managing safety stock inventory levels by calculating the magical balance of minimal inventory while meeting variable customer demand is a BIG challenge.


Advanced Management Tools

Optimizing stock levels can be especially challenging if products vary dramatically based on the time of the year or if the life cycles of the products vary substantially. The advanced inventory management tools incorporate some of today's most advanced inventory management methods.

Benefits of this utility:

  • Reduce the total amount of inventory without losing sales by predicting the proper inventory levels more accurately
  • Let the EBMS System determine inventory levels rather than manually entering minimum and maximum inventory amounts
  • Focus on the inventory items that have the greatest affect on managing inventory levels. Managing the top 5% of most popular inventory items may improve the inventory turnover by 50% or more.
Furniture

Estimate Inventory Levels

Let the Advanced Inventory Utility estimate Inventory Levels using any of the following options:

  • Seasonal - Use this option for seasonal items. This option will adjust minimums and maximums when sales fluctuate based on the time of the year.
  • Linear - Use this option if the sale of item tends to increase or decrease in a linear fashion. This method should be used when items increase or decrease in a consistent manner and do not fluctuate in a seasonal manner
  • Average - Select this option if sales are somewhat consistent during the sales life of the product. This method calculates the minimum and maximum values based on the average sales in history.
  • Best Fit - (RECOMMENDED) By selecting this option the system determines the best Prediction Type based on the sales history. The system will try to predict the amount of sales for the past few months using each one of the models listed above. The prediction results for each type is compared to the actual sales in the past period to determine the best fit. The Best Fit option should be used unless the user wishes to restrict the automated calculation process.
  • No Prediction - Select this option to disable the automatic setting and manually set the minimum and maximum values. This option disables the automated feature.
Inventory Management

"We did not spend nearly as much time on setting min/max levels. As a result we were able to free up cash by needing less inventory and by spending less wages on managing inventory..."

Willy, Gap Power

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