Supply Chain Planning software you don't have to be a genius to use
Your supply chain is the culmination of all the resources required to deliver goods to your customers. Because many businesses are continuously changing inventory, supply chain management is critical to the ebb of flow of materials, and an essential part of high customer satisfaction and overall company success.
The greatest challenge faced by startups and established businesses with physical goods on hand, is stock and inventory management.
Inventory management and supply chain planning is a moving target for most distributors and manufacturers. Even with modern technology and best practices, stockouts, forecasting and maintaining high customer service levels is challenging.
When manufacturers and distributors seek to grow their business or stay ahead of the competition, they often focus on the nitty gritty details of efficient supply chain management. This is indeed critical, but it’s always important to keep the end goal in sight: finding and keeping customers. At the end of the day, you need happy customers who are buying your products, otherwise your distribution or manufacturing business will go nowhere.
For distributors and manufacturers, maintaining good margins requires reducing costs while increasing customer satisfaction. You have to continuously hone your processes and decision-making so you’re operating on the razor-thin edge of maximum efficiency. With today’s technology, it’s possible to gather loads of data about daily operations. The challenge is how to compile and interpret this data, then act on it in a timely fashion. Customizable dashboards can provide the real-time flow of understandable information that your team members need to achieve this.
The StockIQ team is growing and we couldn’t be more excited to welcome Todd Warnygora to his new role as Customer Experience Lead. Todd has dedicated the last two decades to supply chain planning software and process optimization, and he will be a valuable resource for our employees and customers. Find out why Todd may be a new name around StockIQ, but most of our team has known him for years.
While one of the basic processes in successful inventory management is inventory classification, as we discussed in our Inventory Classification 101 article, there are some additional considerations for practitioners of best-in-class inventory management that can help make sure optimizing your inventory investment.
In today’s landscape of rapidly changing supply chains, your company needs the best planning solution in order to stay ahead of these changes and stay agile and profitable. For this reason, StockIQ is excited to announce its competitive “Trade In” program for qualifying planning systems
Classifying inventory is one of the most basic, yet essential and strategic parts of inventory management. Classifying inventory allows business owners to focus on items that make the most impact on their business goals while identifying (and potentially removing) items that aren’t contributing to the bottom line, selling or are obsolete.
Excess stock is part of running pretty much any business that carries inventory. Demands can change quickly, bulk pricing is tempting, supplier minimums can be tricky and there’s more than enough room for human error when forecasting stock manually. In some cases, identifying excess stock is easy (remember those dusty boxes in your warehouse?) but other times it can be more complex.
Stock-outs are one of the biggest threats to businesses that rely on inventory on the shelves to meet their customers service expectations. In fact, 42% of small to medium businesses report stock-outs as being their top inventory management concern. While one or two lost sales due to stock-outs may not be a huge concern, a lost customer has major consequences for businesses. Losing a customer can unintentionally strengthen your competitor. And gaining customers back after they’ve moved on can be a daunting task.
In 2015, Jeffrey teamed up with two of his previous colleagues from RockySoft who had formed their own company and had devoted a year to developing a new inventory planning solution for the Microsoft Dynamics market: StockIQ.