In today’s fast-paced business landscape, efficient inventory planning is paramount to success. To stay competitive and meet customer demands, businesses need a powerful, streamlined solution that optimizes their inventory control and inventory management processes. Enter Acumatica Cloud ERP and Netstock, a dynamic duo that combines the powerful capabilities of Acumatica’s cloud-based ERP system with the intelligent AI-powered predictive inventory planning offered by Netstock. By integrating these two cutting-edge platforms, businesses can supercharge their inventory planning, gaining real-time visibility, predictive analytics, and insights to enhance control over their supply chain.
Let’s explore how Acumatica and Netstock will optimize inventory planning, helping businesses achieve greater efficiency, profitability, and customer satisfaction.
Managing Your Inventory with Acumatica
Acumatica has established itself as a world-class reliable, comprehensive business management solution. With Acumatica, you can manage inventory costs, locations, lot and serial numbers, bin locations, bills of material, production planning, material requirements, purchase and sales orders, and even freight costs. Acumatica also offers entry-level forecasting and demand planning capabilities, leveraging standard lead times and sales history data.
However, the ever-changing dynamics of the modern supply chain require extra flexibility and adaptability to stay competitive. Integrating Acumatica with a predictive supply chain planning add on solution will provide a more dynamic view of your inventory and enhance your decision-making processes to provide a deep understanding of crucial inventory factors like supplier performance, target fill rates, item classification, safety stock parameters, and more. Say goodbye to stock-outs, surplus stock, and supplier delays, and hello to intelligent predictive insights and automated processes that ensure your products are always available when and where you need them!
Optimize Your Inventory with a Predictive Supply Chain Planning Solution
Unlock the potential in your inventory:
- Use a classification matrix: A classification matrix allows businesses to categorize and prioritize their inventory based on criteria, such as value, and sales velocity. By identifying high-performing stock items that contribute towards the bottom line, helps planners make informed decisions about stocking levels, replenishment strategies, and how much resources, such as time and money, to allocate to various stock items.
- Monitor and measure supplier performance: Monitoring key supplier metrics such as on-time, in full deliveries, overdue/late orders, open purchase orders and future recommended orders enables businesses to identify areas for improvement, build strong supplier relationships, and mitigate risks associated with underperforming suppliers.
- Manage inventory KPIs with a single dashboard: Visualizing crucial inventory metrics like stock levels, potential stock-outs, stock in excess, stock turns and fill rates in one place empowers businesses to identify issues, make data-driven decisions, and optimize on time and efficiency.
- Enhance forecasting and demand planning: By leveraging historical data, statistical models, and market insights, businesses can generate reliable forecasts. This leads to improved inventory accuracy, reduced stockouts, and increased customer satisfaction.
- Optimize production plans: Optimizing production plans is essential for efficient operations. Businesses can identify bottlenecks and optimize production schedules by analyzing demand fluctuations, lead times, and production capacity. This ensures efficient resource allocation and helps meet customer expectations.
- Align demand and supply decision-making: By integrating data from various sources such as sales, finance and marketing, and gaining comprehensive insights, businesses can make informed decisions about procurement, production, and distribution. This alignment helps optimize inventory levels, minimize stock-outs and excess inventory, and improve operational efficiency and profitability.
- Be guided by your in-app digital assistant: Driven by AI technology designed to review all inventory data automatically, you’ll receive daily automated recommendations about where you may be stocking out or heading toward a potential stock-out situation. You’ll receive further recommendations on how to fix potential problems helping you to prevent challenges before they even happen!
Check out Netstock’s AI-Driven Opportunity Engine in action here.
Better together: Acumatica and Netstock
Acumatica and Netstock collaborate seamlessly, delivering a comprehensive inventory management experience for your business and customers. As part of the ‘Fulfilled by Acumatica’ program, Netstock is an Acumatica Certified Application designed to equip businesses with valuable data, insights, and intelligence to optimize inventory and enhance forecasting. Meanwhile, Acumatica seamlessly executes these tasks, ensuring their successful completion. By harnessing the power of these innovative solutions, you’ll have full control to balance inventory levels, meet customer demand, and ultimately boost profitability for your business.
Acumatica customer, Best Vinyl reduced their inventory by 50%, while still maintaining high customer service levels. Read their full story here.
