What portion of my inventory is about to expire? Are there products with excess inventory and open purchase orders? Are shelf-life variations reflected in price charges to customers? Are customer cancellations and poor forecasts major causes of excess inventory? These are all questions that can effortless be answered when using the OpsVeda solution and its real-time Inventory Optimization storyboards.
A key aspect of the solution is the “Inventory Perspective” storyboard. This drills down into data by material and is armed with several alerts and displays to make managing by exception extremely easy. This also allows for inventory and materials to be tracked and graphed over time with significant data also presented in real-time.
Reduced spoilage, distress sales, and other carrying costs are achieved.
The OpsVeda Inventory Optimization solution can take a deeper dive into your company’s inventory in real time more efficiently than a typical ERP system can. This presents access to information such as: what inventory exists without demand, what inventory is at specific locations and what value of inventory is inbound/outbound. Accessing this information gives inventory personnel the ability to solve problems without the lengthy task of sifting through noisy ERP reports and helps inventory strategies align most efficiently with sales demands and forecasts.
The solution continuously assesses alignment of inventory positions to demand and supply information from internal and external sources. Managers are proactively alerted to potential excesses and shortages with recommendations to restore the balance between inventory, shelf life, supply and demand.
Having OpsVeda’s solutions can be instrumental in improving the efficiency of a company’s supply chain. The ability to satisfy customer demands more effectively through using this platform can give way to lower operating costs and greater sales capacity for new customers.