Inventory management software solutions are often equipped with the features needed for supporting a streamlined integrated business planning process. Benefits of using inventory management software include better visibility of the inventory in terms of volume and value across the supply chain, a reduction in your warehouse and operational costs, as well as an improvement in service levels. It helps determine the right inventory levels and helps businesses answer the question of where to keep inventory without sacrificing customer service level targets.
In this on-demand webinar, Nakul Tilak discusses the 3 must-have features of inventory planning software:
- Inventory visibility
- Using analytics to answer questions like “How much inventory do I have and where is it located?”
- What is the inventory velocity?
- How much is my inventory value?
- Inventory optimization
- Using a single echelon optimizer
- Calculate inventory targets based on demand and supply variability
- Inventory monitoring and early warnings
- Identify excess & obsolete inventory in the network
- Aging inventory
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About the presenter: Nakul Tilak
Nakul started his career at Arkieva in July 2014, joining the consulting team. He works in Arkieva’s India office as a Senior Solutions Architect. His work experience includes a brief stint in a brakes manufacturing company followed by consulting experience in service parts planning services and operational analytics. At Arkieva, he has been designing and implementing Demand & Inventory Planning solutions for clients spanning different industries. In his free time, he likes to watch movies and he practices yoga.