But in today’s market, supply chains need certainty and assurance. The most successful businesses are the ones that can master inventory planning and anticipate where they will need certain stock.
Employing a team of planners and some outdated software built on 20-year-old technology that relies upon basic algorithms and historical averages just doesn’t cut it anymore. In a digital economy, trend changes, policy changes, monetary changes, even weather changes all have an impact on business and all happen faster than any team of people can analyze and process.
This is further complicated by the need to support multiple sales channels with your central inventory investment strategy. Throw in sourcing or scarcity issues and all these factors mean your inventory planning team must operate beyond their capacity.
Are businesses really doing everything they can to make sure the right products are at the right place at the right time? Are they balancing carrying and acquisition costs? Smart forecasting is no small chore for a team of buyers and planners using traditional on-premises software.