Use Retail ERP to optimize your Inventory and eventually your Bottom line
A recent study published by Aberdeen Group, emphasises how Inventory Optimization is an innovative way to manage Working Capital effectively.
Inventory often accounts for the highest proportion of the working capital as raw material, WIP and finished goods. From a financial point of view, especially in the case of small & mid-sized Retailers, inventory optimization provides an attractive opportunity to raise the performance of both top line and bottom line.
The report further elaborates that Forecasting is a crucial aspect of Inventory Optimization. By using an effective forecasting tool that uses actual customer demand and inventory lead times, one can accurately predict demand for each stock locations. This can cut-down 15% to 30% of excess inventory from the supply chain.
Ginesys, with real time and accurate data capturing, results in effective reporting and decision making. This is very important in controlling the Inventory and maintaining it at an optimized level. This can have a ripple effect on one’s bottom line, promote visibility and ensure better service levels to customers.