INVENPRIL Increases Inventory Turns
Companies have traditionally used Push Inventory strategies that rely on mid-to-long term demand forecasts and Min-Max replenishment calculations to manage inventory. In today’s fast-paced, difficult to forecast business environment, these processes have become ineffective and too costly to sustain.
Pull Inventory strategies involve placing smaller orders more frequently in response to actual demand. While this helps meet demand without ordering large volumes of inventory in advance, the myriad of supply and demand variables and calculation make it risky, complex, and costly to manage.
INVENPRIL takes inventory replenishment to a whole new level by delivering the advanced analytics needed to automate the calculation of all relevant variables and streamline the pull inventory process. Importantly, the patented, actionable analytics built into BI enables companies to measure inventory in a more meaningful Days-of-Sales metric that is much more effective in maintaining just the right levels and types of inventory needed to fulfill all orders while decreasing excess stock and the capital required to maintain it with confidence.
Top 10 Benefits of the INVENPRIL Solution
Increase Inventory Turns
Sell More at Higher Margins
Decrease Markdowns and Waste
Eliminate Excess Stock
Slash Inventory Carrying Costs
Reduce Inventory Management Costs
Automate Replenishment Process
Minimize Order Expediting Expenses
Improve Order Fill Rate
Boost Customer Service