Reduce inventory costs

overview

Reduce inventory costs

Inventory management based on data analysis can significantly increase inventory turnover rate, reduce excess inventory of unsupplied products and emergency orders, optimize the assortment of raw or semi-processed materials based on product seasonality, improve customer service and much more.

Forecasting based on traditional and conventional warehouse management strategies does not lead to accurate results. Managers and entrepreneurs often have to build reports manually and interpret them according to their knowledge and experience.

The modern technologies and knowledge accumulated in predictive analytics allow you to process a wide range of business data, related to products, suppliers and customers, and to make accurate predictions for your business needs.

Genialcloud allows you to get automated recommendations to solve the most vital problems in warehouse management.

reference solution

The Self-Service Cloud Business Solution to manage and optimize your sales, production, purchase, inventory and financial processes. A full set of independent and integrated modules in one solution fully integrated: ERP, CRM, SCM, HRM and AFC. Run your company from anywhere just with a browser or a mobile device.

Articles

Which items should be ordered and how many?

Timing

When is the optimal time to order?

Stock

What is the optimal amount of stock?

Costs

What are your warehouse costs?

Getting started

Take a holistic approach

Effective warehouse management requires the ability to process data from multiple sources and systems, both internal and external.

Genialcloud is able to analyze data from ERP, CRM and Supply Chain Management software systems and process information on:

  • Type of products

  • Similar and interchangeable articles

  • Affiliated warehouses / third party account / deposit account

  • Historical sales and cancellation data

  • Product costs

  • Inventory shipping time

  • Inventory shortages

Optimizing inventory

The stages of a winning project

  • Data analysis

    Sales analysis, cancellation analysis, analysis of delivery routes, identification of seasonal factors and trends, analysis of deficiency cases, identification of unsold stock, identification of data correlation models, detection of abnormal cases.

  • Development of predictive models

    Forecasting demand, shipping times, insurance supply level, and other probability factors that have a significant impact on deposit costs.

  • Development of the recommendation model

    Development of an optimization model that lowers inventory costs by recommending the necessary value of the appropriate orders and suppliers.

  • Implementation

    Developing the UI by integrating advanced data models, dashboards and visualizations, with the ability to collaborate and share results and reports.

Benefits

The Genialcloud business suite helps:

  • Significantly lowers labour costs

  • Lower risk of unavailability of goods

  • Higher and faster inventory turnover

  • Improve customer service

  • Increase profitability

  • Lower inventory costs

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