7 Ways Procurement and Forecasting Software Optimize Inventory Levels

Managing inventory effectively is the most critical job for the success of any distribution and manufacturing company. So how can procurement and forecasting software help better manage your largest and most costly asset - your inventory? Managing inventory is often a challenge but implementing procurement and forecasting software helps to reduce inventory carrying cost and increase margins. As warehouse management software (WMS) consultants we have countless examples how our clients significantly increase profitability through improved inventory management. In fact, when your inventory levels are optimized, your bottom line is impacted often much faster than by increasing marketing and sales efforts. So why not do both?

iCepts Technology Group offers a new series of tools in Advanced Forecasting and Procurement, for Microsoft Dynamics NAV, that can help distributors and manufacturers more accurately forecast inventory resulting in lower inventory levels, lower carrying costs, and less demand on credit lines.

7 Ways Procurement and Forecasting Software Optimize Inventory Levels

Advanced Forecasting and Procurement for Microsoft Dynamics NAV helps you:

1. Calculate a Formula Based Forecasting-Best Fit Formula Approach
2. Use Collaborative forecast to “fine tune” your overall forecast
3. Use Vendor forecast to help your vendors anticipate your future needs
4. Roll-Up usage history & demand base on replenishment to view supply chain
5. Identify surplus inventory and re-deploy to reduce total inventory
6. Utilize a Lead Time Horizon replenishment method for long lead times
7. Implement a Suggested Order to review products by vendor

Learn more about Advanced Forecasting and Procurement for Microsoft Dynamics NAV

If you have additional questions about your distribution or manufacturing operations or any other questions about this blog, please contact us here or you can call 717.704.1000 ext.3010. You can also email us at info@icepts.com. Since 1980, iCepts Technology Group has been offering the “Best-of-Class” technology solutions to help companies streamline their specialized business departments and become more efficient and therefore profitable. Our WMS and ERP consultants have implemented hundreds of systems throughout the Mid-Atlantic Region spanning from Ohio, Pennsylvania, New York, New Jersey and Virginia. We can help your company determine the appropriate technology fit. Discover why customers have been with iCepts for so long; our vast industry knowledge, friendly personnel and superior customer service!

As experienced SCM, WMS and ERP consultants and value added resellers (VARs), we provide start to finish services for the solutions we represent Microsoft Dynamics NAV for Distribution and Manufacturing, Accellos Warehouse Management System (WMS), Server virtualization, open source VOIP phone systems and infrastructure and security. We provide services that cover process analysis, implementation, training, security and networking. Naturally, we also provide full ongoing support for years after implementation to help our clients succeed. We are your one stop shop for your business technology needs.

About iCepts Technology Group, Inc. - Middletown, PA

We are a Microsoft Dynamics NAV Partner offering implementation, service, and support for Microsoft Dynamics NAV in: PA, DC, DE, MD, NC, NJ, NY, OH, VA, WV, and the entire Mid-Atlantic Region. We also offer implementation, service, and support for Accellos One Warehouse Management Systems in: PA, DC, DE, MD, NC, NJ, NY, OH, VA, WV, and the entire Mid-Atlantic Region.

Phone: 717.704.1000
Email:  info@icepts.com

Another version of this blog was posted on iCepts blog on July 31, 2014:  http://www.icepts.com/optimizing-inventory-levels-through-forecasting-technology/

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