Inventory Planning Blog

Inventory Challenges Increase with Global Supply Chains

Posted on Tue, Oct 10,2023@09:23 AM

New Inventory Planning Technologies and the Cloud can Provide just the Right Environment for Better Global Planning.

Inventory management has become more challenging in today’s global and competitive business environment. Many companies still maintain their inventories manually and perform complicated computations using spreadsheets and point solutions. Keeping track of reorder points can become an overwhelming task as businesses grow. Spreadsheets offer little help in driving down costs and improving revenues because they are time consuming and frequently contain multiple errors.

                       There is Good News!globe_free-resized-600

Automated inventory planning tools are designed to remove complexity and improve and balance the inventory mix. They dramatically reduce the amount of time required to properly plan inventory. By automatically forecasting, replenishing, and optimizing and rationalizing, companies can manage inventory more efficiently and meet the demands of customers and suppliers at lower costs for a more powerful competitive edge.

Automated smart planning tools work in conjunction with ERP software to improve the inventory planning processes. Advanced inventory planning solutions consider several factors—budget, carrying costs, planning horizon, leads times and more—to create an optimal stocking quantity. The entire planning process must be in-sync to create a plan that works—from forecasting to setting stock and calculating replenishment levels, and from purchasing to production.

The Cloud and Advanced Inventory Planning

Cloud computing provides you with the flexibility you need for easier, more accessible inventory planning. Cloud computing today has real meaning and positive impact for companies in a challenging global economy.

Advanced inventory planning and the Cloud is a strong combination. This combination of technologies allows you to work smarter by easily adapting all aspects of inventory management into one advanced, simple-to-use software product you can use any time anywhere.

Inventory Planning is a Competitive Advantage

Advanced inventory planning and optimization not only automates the entire planning process, but it also dramatically increases positive cash flow. Smartly reducing inventory, mitigating stock-outs, decreasing expedited shipping costs as well as planning time mean less money going out, and more money to invest in the business. Increased sales and productivity gains add to the competitive advantage.

Using Planning Solutions in the Clouddreamstimefree_30572521

At Valogix, we deliver our 100% proprietary web-based inventory planning solution as a “virtual appliance.” By wrapping all the technology into a virtual appliance, customers have the ability to use the latest in technology quickly, thanks to a rapid implementation process. Using the software via SaaS not only frees up cash and resources but delivers an up-to-date product without lengthy upgrades and expensive hardware; all that is needed is the Internet. The added benefit of recognizing a quick return on inventory investment is a major plus.

Technology Highlights:

· Provides automated inventory planning tools that improve inventory investment

· Empowers employees to meet demands of customers and suppliers at lower costs

· Helps reduce stock-outs and overstocks, shipping costs and lost sales

· Reduces overall inventory & helps increase productivity

· Delivers high performance, efficiency and interoperability

· Cloud-based application lowers upfront costs and increases accessibility

Combining ERP Transaction Systems + Advanced Planning Solutions

Advanced planning solutions do not replace the existing transaction systems. Instead, they are designed to complement and improve existing software. The best of all worlds is to add an advanced planning solution to an existing transaction system. This provides a more complete, robust system that dynamically plans based on what is happening now and projected for the future.

Tags: Supply Chain Managment, optimized inventory planning