Master inventory calculations and anticipate future demand
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Master inventory calculations and anticipate future demand

As businesses reopen and customers resume spending, it’s more important than ever to have a full understanding of your stock. Having on hand what customers want today is crucial, but being able to anticipate what they will want or need in the coming months can be challenging to predict. Fortunately, by utilizing your business data, you can master inventory calculations to prepare for the future.

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Topics: Business Intelligence Basics, Industry - Wholesale Distribution, Industry - Retail, Job Role - Inventory/Operations, Inventory Management, KPIs and metrics

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Master inventory calculations and anticipate future demand

As businesses reopen and customers resume spending, it’s more important than ever to have a full understanding of your stock. Having on hand what customers want today is crucial, but being able to anticipate what they will want or need in the coming months can be challenging to predict. Fortunately, by utilizing your business data, you can master inventory calculations to prepare for the future.

Read more

Topics: Business Intelligence Basics, Industry - Wholesale Distribution, Industry - Retail, Job Role - Inventory/Operations, Inventory Management, KPIs and metrics

Delivery in full on time: Why it matters and how you can improve

improve-your-delivery-in-full-on-time-rates-with-business-intelligence

Delivery in full, on time (DIFOT) is a fundamental measure when analyzing the performance of your supply chain. The main goal is to get your customers the products they need, when they need them, in the quantity they ordered. DIFOT measures how successful your business is at achieving this objective and identifies fulfilment problems and supplier reliability.

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Topics: Business Intelligence Basics, Job Role - Inventory/Operations

Safeaid turns to business intelligence software to maintain customer satisfaction

Safeaid Supplies is an English manufacturer and supplier of personal protective equipment. The company started out of a garage in 1976 and has grown to include 20 employees who service the entire country with guaranteed next day delivery. Safeaid prides itself in providing responsive, first-class customer service. With its continued growth, the company turned to business intelligence software to maintain customer satisfaction.

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Topics: Industry - Wholesale Distribution, Job Role - Executive, ERP - NetSuite, Job Role - Inventory/Operations

How to measure stock on hand, over stock, under stock and dead stock quickly and simply

how-to-measure-stock-on-hand-over-stock-under-stock-and-dead-stock-quickly-and-simply (1)

Many businesses are adjusting demand forecasting due to the effects of the pandemic. Some products have increased in demand while others less so. It is important for companies that manage lots of products to evaluate how the impact of the disruptions, as well as the anticipated gradual recovery from its effects, should be applied to its measurement of inventory. By measuring stock on hand, over stock, under stock and dead stock regularly will help you be more in control of your inventory and supply products customers want.

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Topics: Job Role - Inventory/Operations, business intelligence software, Inventory Management

Take stock with inventory management software

Business intelligence is used by many distributors who move and sell lots of product as its inventory management software. It is the tool of choice because inventory and operations managers can carry out inventory planning as well as produce up-to-date reports and dashboards that everyone across the business can access.

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Topics: Job Role - Inventory/Operations, decision-making

5 ways to use business intelligence software to adapt to the new normal

Phocas customers operate in distribution, manufacturing and retail, so they're always analyzing their data to improve business performance. Covid-19 has impacted everyone; some are experiencing spikes in demand, whereas others have had to pivot exclusively to online sales. While the situation is different for every business, the common thread is using business intelligence software to make critical decisions about inventory, cash flow and how best to serve their customers to adapt to the new normal.

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Topics: Industry - Wholesale Distribution, Job Role - Inventory/Operations

Don't drop the data: Why business intelligence software matters

Business intelligence has become this wonderful blanket term to cover a variety of elements. These include the collection, analysis, and reporting of information that relates to all of your business’ activities and operations. Having business intelligence software to consolidate all of this information and all of the essential analysis of it will certainly make your life easier and give you the key to making your business the best it can be.

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Topics: Business Intelligence Basics, Strategy, Management and Performance, Job Role - Executive, Job Role - Inventory/Operations

Inventory optimization helps American Metals Supply adapt to change

Independent wholesaler American Metals Supply (AMS) provides sheet and coil steel, prefabricated duct and fittings, and HVAC products to commercial construction projects. The company operates out of eight locations serving customers in twelve states across the middle of the U.S. Typically, over half of AMS inventory is tied up in raw steel. The rest consists of flex duct, pipe fittings, prefab fittings, venting, spiral pipe, connection systems and other products used by HVAC contractors. Critical during this time is inventory optimization, monitoring closely what’s on hand, as well as projected inventory levels to uncover areas to address.

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Topics: Case Study, Industry - Wholesale Distribution, Industry - HVAC/Plumbing, Industry - Building & Industrial Supplies, Job Role - Inventory/Operations, data analytics

Inventory management metrics to handle demand volatility

Due to the current health crisis some wholesalers are experiencing intense demand for certain products such as hand sanitizer, disinfectants, medical supplies, and personal protective equipment. As such, these companies are struggling to meet ongoing demand because of supply chain disruption. Yet wholesalers in industries such as fashion and homewares have an oversupply of goods because customers have paused operations. Maintaining the supply-demand balance is challenging for all at the moment. By putting inventory management metrics to work will help you be more flexible and keep your team focused on customers and suppliers who continue to trade.

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Topics: Industry - Wholesale Distribution, Job Role - Inventory/Operations

Data analytics essentials for the COVID-19 crisis

The COVID-19 pandemic puts risk management and disruption strategies under the spotlight as companies experience limited supply and others are battling cashflow shortages. For businesses who move and sell products, inventory management can be a never-ending battle. During the shock of COVID-19, when supply and demand are volatile, managing stock presents further challenges. Strong visibility into your operations using data analytics principles can help manage inventory levels and keep cash flow steady.

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Topics: Business Intelligence Basics, Industry - Wholesale Distribution, Job Role - Executive, Industry - Retail, Job Role - Inventory/Operations, decision-making, data analytics

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