Inventory Analytics and Inventory Optimization
Every e-commerce company and retailer is looking to move or already moving towards inventory management systems or inventory optimization software. This software carries out inventory analytics and derives actionable insights from their quantitative data that can be used to improve their business, their service levels and increase the return on their investment in inventory.
The key to this and inventory optimization is that the collection and storage of data is now understood to be only a means to the end of being able to model and predict inventory behavior and customer demand to aid in decision making. In a seamless environment, inventory modeling and demand forecasting become more complex and require robust cross-channel inventory analytics which is possible with inventory optimization software.
We are all aware that yesterday’s inventory management occurred in siloed environments where inventory decisions at the store level were invisible to stakeholders upstream in the supply chain, and past inventory performance was used to predict future sales. To the e-commerce companies and retailers of today this was less than optimal even in a small company, and for any larger e-commerce company looking to sell globally such inventory management systems are inadequate.
Today’s more advanced inventory analytics solutions and inventory optimization software not only leverage past performance to predict future inventory demand but also break down barriers across the business, incorporating the consumer to better manage inventory allocations by channels and region.
Intelligent inventory management analytics and inventory optimization software can weigh stock reduction versus customer service in any given set of circumstances and predict the best balance for success. Intuendi has built our world-leading inventory optimization software as a SaaS solution as many e-commerce companies and retailers are either moving or building in cloud-based software-as-a-service (SaaS) applications for cross-channel business intelligence analysis and evaluation of business metrics.SaaS and cloud-based solutions can be implemented across all departments, including purchasing, distribution, and point-of-sale, and can be accessed from any location, computer, or mobile device. That means our clients using our leading SaaS inventory optimization software are well placed to take full advantage of their information and grow their business.
See what Inventory optimization software can do for your business today by contacting us.