Want to do more inventory planning with the resources you have? Or maybe you need to move a person to another critical department but that would mean not being able to plan your entire inventory. Today, it is of upmost importance that every business manager makes the most of what resources they have in place. If you can’t add headcount, you need to increase your productivity to compensate. And you need to do it fast.
One surefire way is to automate your inventory planning with an easy to use solution. If you are still relying heavily on spreadsheets or your ERP system needs a lot of manual intervention, you should evaluate your options. We have seen ERP systems that take you through a multi-step process every time you want to set a stocking quantity for an item. Or they force you to set a minimum quantity amount and safety stock. Others offer only rudimentary forecasting and planning which can cause an inventory to get more out of balance.
Why would you want to focus your inventory planners’ time on extensive manual analysis to figure out what needs to be stocked, how much and when? It’s like driving a car without power steering and power brakes, you can get where you are going but with a whole lot of effort. Or washing dishes by hand which not only wastes time but also wastes a lot of water, both precious resources.
In order to improve the productivity of your planners you need to give them the proper tools. Tools that will give them the information they need to make informative and more correct decisions about your inventory. Best-in-breed inventory planning and optimization solutions are available that simplify the task of managing an inventory. Not only does the planner’s productivity go way up, but the investment in inventory will actually go down.
Savvy leading companies rely heavily on new technologies to improve their competitive advantage. This means they are getting more value out of the resources they own while dramatically improving the service to their customers. Imagine having hundreds of thousands of extra cash in the bank. Think about it. You are sitting on a ton on money in your inventory.
Isn’t it time that inventory pays you back extra dividends? Well it can and you owe it to yourself, your employees and your customers to get more with less. Imagine how happy you will all be, when you can fill all your orders and have more money in the bank. Satisfaction at its highest level.
