Inventory Controlling
Storing inventory is imperative, but it is also expensive. In order to find the optimal balance between high service level and low inventory levels at all times, implementing an inventory control process that calculates the days of inventory on hand, analyzes weak points and thus enables improvement measures, is a must. After all, a wide product range requires differentiated strategies and measures for maintaining inventory.
Overview
Inventory controlling serves as the link between inventory and financial management and is an essential part of inventory optimization. Creating transparency amidst complex, interrelated processes is essential if companies want to maintain an overview of their stock situation. Through the use of meaningful and informative analyses that take the past, present and future development of inventory into consideration, companies can make better informed operative planning and strategic management decisions.
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Solution ADD*ONE Features
ADD*ONE provides companies with detailed analyses regarding inventory developments, allowing for the identification of undesirable changes before they happen and optimized decision-making capabilities. Some key features include:
- Key Figure Reporting
Calculation of various key figures and their graphical representation both at the item and aggregated (individually defined) levels
- Operative analysis of bottlenecks
Identification of structural and isolated bottlenecks via graphical comparisons of interrelated key figures
- Simulations
Powerful "if-then" capabilities allow users to test the sensitivity of forecasts or examine the consequences of particular strategic scenarios
- KPI Monitor
Individual definition of reports and group analyses.
- ABC Analyses
Fully automatic calculation of various ABC analyses, i.e. for identifying inventory drivers or items with a high contribution margin
- Service Level Optimization
Comparing the ideal stock situation for a given service level with the current situation allows for the discovery of unused potential.
Benefits
ADD*ONE provides users with sophisticated solutions for strategic and operational inventory controlling to improve the inventory planning process. Benefits include:
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Optimal Transparency
Summarize a vast amount of individual pieces of information to conclusive key figures in an uncluttered graphical representation
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Identification of weak spots and potentials
Identification of structural or current weak spots by using a graphic juxtaposition of interdependent key figures.
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Reliable planning
The simulation of various planning scenerios delivers a basis for decision-making at all planning levels – from single items to the complete product portfolio
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Management Support
Extensive functionality offers managers the capability to observe stock levels from various perspectives and make informed business decisions.
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Reduced effort
Comprehensive evaluation of complex interrelated key figures with just a few mouse clicks.
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Overall improvement of inventory management
Continual improvement of the inventory management process through the addition of controlling functions to the forecasting and planning tasks.
References
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