While you recognize the need for accurate analysis and forecasting methods to optimize inventory, how often do you accept the mediocre performance of your existing tools, and overestimate the time, effort, equipment and skills necessary to improve your performance?
As a result, do you often have to carry excess inventory to ensure fill rates and customer satisfaction, or deal with frequent stock outs to minimize inventory costs?
Inventory is one of the largest business expenses for a distribution or manufacturing company. How well businesses adjust to demand and manage their inventory has a significant impact on the amount of capital invested in stock, the warehousing costs, depreciation cost, insurance costs, taxation, obsolescence, and shrinkage costs. Consequently, the cost of inventory impacts the bottom line dramatically.
Here are 4 common misperceptions that people often have about their situation:
- ERP systems already offer the highest level of stock optimization technology can provide
- Analyzing inventory performance is an overwhelming task that requires much time and dedicated skills, and can only be done periodically
- It is necessary to export data from ERP systems to analyze stock and manually adjust forecasts
- Integrating inventory analysis and forecasting tools with ERP systems is a long and costly project
The truth is that while ERP systems are great to manage inventory transactions, some ERP users who adopted complementary decision-making solutions witnessed 15% to 20% reduction in capital invested in stock.
Also, new inventory management solutions can provide instant diagnostics that help focus on the products that make a difference in your business every day. And, these new inventory management solutions can easily connect to your ERP system.
In addition, it takes no longer than a few days to get up and running with a connected cloud-based inventory management solution, for a small monthly fee.
Sage Inventory Advisor integrates with Sage 500 ERP 2013 and 2014 systems and analyzes inventory data to identify where the biggest improvements can be made, produce quality forecasts, and suggest optimal replenishment recommendations.
Sage Inventory Advisor is a cloud-based solution for Sage 500 ERP customers looking to:
- Reduce excess inventory
- Reduce working capital
- Reduce stock-outs
- Reduce time spent on forecasting
Contact Our Sage 500 ERP Team
If you have questions about Inventory Advisor for Sage 500 ERP, and if it can help you, please contact our team online.
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