Manufacturers and Wholesale Distributors Use SAP Software Solutions to Improve Inventory Tracking and Control
Choosing what inventory tracking software is best for your enterprise is no easy task. In today’s very competitive business environment, companies must guard against supply chain inefficiencies. Accordingly, many enterprises of various sizes are turning to inventory optimization in order to increase efficiency and lower supply costs. many organizations are exploring inventory optimization. This technique improves inventory targets to address the realities of today’s complex, ever-evolving global supply chains.
SAP® Enterprise Inventory Optimization application facilitates a process by which company officers and employees can collaborative with third parties so as to help planners more accurately predict future demand patterns. Further, an option is available that provides executive-level analytics and reporting using a focused dashboard.
Conventional approaches to inventory planning are based largely on rules of thumb. Planners develop a set of criteria for assessing safety stock levels, and these rules get handed down. Some organizations also use rudimentary analysis, in which items are weighted on an A-B-C scale with the priority of keeping A-level items in stock. The assumptions made for this sort of analysis, however, are typically revisited rarely.
In fast-changing environments, this method can contribute to out-of-stock situations and supply chain inefficiencies. The difficulties and uncertainties related to the ever evolving global supply chains create the need for steadily evolving new approaches. The inventory optimization approach augments existing enterprise resource planning (ERP) and advanced planning and scheduling systems, helping planners improve operational inventory targets. That results in more accurate demand predictions that allow planners to adjust inventory and reduce carrying costs without impacting customer service levels or sacrificing product availability. This allows businesses and organizations to enhance performance and more effectively meet the terms of service-level agreements.
The Optimization application addresses these requirements, helping organizations strike the right balance between service levels and inventory investment. The application can be used on a stand-alone basis, if desired, or as an integrated part of the SAP ERP application or the SAP Advanced Planning & Optimization component. In either case, it enables planners to dynamically determine optimal demand driven, time-phased inventory targets for every item at every location throughout the supply chain.
For Advanced Enterprise Inventory Tracking-Control-Management Solutions, Your Growing Small or Midsized Manufacturing, Wholesale Distribution, and/or Online Retail Business Deserves SAP Software and Technology
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Manufacturers, Wholesale Distributors and Online Retailers Rely on Cornerstone for Automated Enterprise Resource Planning (ERP) Systems of Financial Accounting, CRM, MRP, Inventory Control/Tracking, Bar Codes and Scanning, EDI, Warehouse Management, Web Apps, Advanced Technology Solutions and IT Support
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