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Inventory Optimization Software

Inventory Optimization Software keeps track of the different products and materials in stock and analyzes all the items, as well as the quantities that require to be reordered.

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Inventory Optimization Software helps all the businesses in controlling and optimizing inventory levels across different warehouse locations. This software keeps track of the various products and materials in stock and analyzes all the items, as well as the quantities that require to be reordered.

 

Features Of Inventory Optimization Software

Here are the features of Inventory Optimization Software:

  • Projected inventory levels: It helps to calculate and display proper inventory levels for future periods. The projected inventory levels are calculated based on the company's current inventory, demand forecast, and incoming supply.
  • Demand forecast: This software helps to review historical sales and demand data to automatically select the right statistical model to calculate future demand. Users can modify and re-evaluate the demand forecast based on additional data from the critical management team, all the suppliers, or vendors.
  • Order planning: One can have replenishment suggestions and make an order plan by analyzing when and how much of an item to order. It helps to upload the order proposal data to your connected purchasing system for further action.
  • Stock-out and overstock alerts: It aids you to alert your organization in case any product is in short supply, or excess, in your inventory.
  • KPIs and reports: This software helps to monitor all the business performances with a customizable dashboard that includes operational key performance indicators, graphical reports, and various filters. These help all the users make informed decisions about inventory optimization.
  • Integrations: This software integrates the software with your existing systems such as material requirements planning, enterprise resource planning, and warehouse management software systems.

 

Benefits Of Inventory Optimization Software

Here are the benefits of Inventory Optimization Software:

  • This software helps to improve cash flow. Accurate demand forecasting and projected inventory levels help all the organizations reorder only the needed products.
  • This system enhances customer service, customer satisfaction, and also loyalty. High customer satisfaction is a great market advantage. Product availability at all times can lead to higher satisfaction rates among customers, helping you ensure better customer retention rates and higher customer loyalty also.

 

Bottom Line

There are many IT and software development companies in India. Wordsys Tech, being one of the leading organizations in this field, can provide you with a high-quality Inventory Optimization Software depending on your budget and needs.

Focus on what is important!

All you got to do is enter the client details in the respective category and leave the rest on the software. Analyzing individual client details like the number of services availed, amount received, and business generated it provides a real-time insight of all clients. Segregating clients into different categories based on business, it helps you focus on the important customers.

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