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Inventory is an expensive asset that needs to be carefully managed and controlled. Complex decisions have to be made about how much and which items a company should hold overall and at each stocking location. Additionally, the company needs to know when to replenish, how much and where. Businesses know they can improve profitability and working capital through better inventory management, but many are not sure where to start or where savings can be found. They face an ongoing balancing act as they try to carry enough inventory to respond quickly to customer demand, minimize transportation costs, and minimize investment in inventory to reduce warehousing and storage costs.

  • As companies grow, the variety and quantities of inventory grows and need to be managed
  • In manufacturing companies, as much as 50% of capital is in inventory
  • The major cost component of many products has shifted to materials
  • The link between effective inventory management and cash flow is now
    recognized

The role of inventory management is to coordinate the actions and requirements of a business so that stocks are maintained at the right place, at the right time, and in the right quantities to satisfy the demands of customers or of a production process.

  • Achieve optimum levels of inventory at the correct locations
  • Address issues of inventory losses and obsolescence
  • Reduce the problem of excessive inventory
  • Prevent interruptions to production through stock shortages
  • Increase visibility of information about inventory
  • Prevent interruptions to production through stock shortages
  • Improve procurement and replenishment processes
  • Assist with regular, efficient stock takes
  • Provide additional attributes to handle stock better – lead time, supply/demand variability, velocity

The powerful tools in SYSPRO’s Inventory Management suite provide you with superior inventory control, traceability and recall management to be able to optimize stocking levels, free-up working capital, provide more effective customer servicing and benefit from improved profits:

SYSPRO’s Inventory Forecasting solution provides the tools to measure the quality of your sales forecasts and enables you to produce automatic or manual forecasts based on sales history. Additionally, you can easily identify those products that contribute the most to your business in terms of sales value, gross profit, cost of sales, quantity sold or hits.

SYSPRO’s Families and Groupings and Forecasting play lion king online casino enable you to minimize forecast error and manage seasonality, improving order fulfillment performance.

SYSPRO’s Material Requirements Planning gives you clear visibility to the integrated effect of current and future supply and demand. This helps you to make better purchasing and production decisions and reduce excess and obsolete inventories.

Takes a holistic view of inventory levels and provides the methodology, tools and processes to ensure there is the right balancing of inventory within the supply chain to achieve desired customer service levels while minimizing total supply chain cost.

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Discover how our technology can help to create a truly agile supply chain with end-to-end visibility and collaboration across the entire ecosystem.

Customer Success Story

Arjo Automates Inventory Management and Saves Over 95% of Work Hours.

Inventory Management Factsheet

SYSPRO Inventory Management enables effective customer service and improved profits

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Find out how to effectively manage inventory through a unified view of real-time data at each stocking location.

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Get a first hand experience of SYSPRO software that is designed for your business needs.

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