As a chemical manufacturer, you’ve probably already decided that your customers are picky. (You’re right, by the way.) Those customers of yours make rush orders and want you to have enough stock on hand to meet their needs in an instant – yet they also vary their orders often and wait a long, long time between orders.
This means that, as the manufacturer, you’re often left holding the bag for expired stock.
Not sure what to do to solve this problem? Now you have help. Download the white paper all about chemical inventory control, so you’ll be better prepared to take the right steps for your business.
Fact: Most Forecasting Is Actually Guesswork
Oftentimes, planning and running an effective chemical inventory control strategy takes a lot of guesswork. Sure, you may peer through some outdated spreadsheets to forecast needs, but, as you’ve seen already, something always throws a wrench in the works and messes up your forecasting.
Forecast mistakes lead to business setbacks – and mistakes happen more often than you think. This is because most well-reasoned forecasts are actually educated guesses. And, as we all know already, guessing doesn’t have a high success rate.
Considering that your manufacturing business must keep so much stock on hand, and that quite a bit of your cash is tied up in your inventory, you do not want to risk wasting your business revenues on a bad guess. You need to know how to accurately predict your inventory needs, taking customer needs into account as well. You need your predictions to be more than just “guesses.”
But how can you do that?
Your Options for Effective Chemical Inventory Control
At SWK Technologies, we’ve worked with a fair number of chemical manufacturers, each of whom has their own chemical inventory control strategy, but there are a few common approaches.
The solutions we’ve seen most often are:
- Manufacturing enough surplus inventory to carry safely through peak demand… but risking the possibility of having to destroy stock past its expiration date
- Lowering inventory levels for better shelf life… but risking customer ire due to stock-outs.
Both of these solutions sound pretty risky considering the competition you’re up against these days.
Luckily, you have a third option too.
- Sage Enterprise Management (Sage X3)
Learn all about your options for better chemical inventory control with the new white paper from Sage, available now from SWK Technologies. The white paper clearly and succinctly explains how you can manage your stock levels more easily and even track your increased success as you go.
Check out the white paper, so you can start planning smart for your chemical manufacturing business.
Download your copy of “The 3 Steps to Successful Chemical Inventory Control” today to learn more about you can prepare your chemical manufacturing company for the future.