In a recent survey of mid-sized businesses it was revealed that companies with better business intelligence were 4 times more likely to optimise inventory levels. Many mid sized businesses still have to much of their cash flow locked away due to excessive or poorly managed inventory levels.
A ‘best in breed’ ERP software solution such as Sage X3 can help you to develop a better understanding of exactly what inventory items and levels you need to best match customer demand with your stock holding costs. Sage X3 includes the tools you need for full stock location management of raw, intermediate and finished goods; quality control and sampling; batch and serial management; traceability; expiry and best before dates; consignments; inventory replenishment; physical counting and more. Sage X3 also helps you buy smarter by providing you with business intelligence that highlights best available promotions, pricing and discounts; enables raising of RFQ’s; manages supplier contracts and RMA’s; and assists with re-allocation of spending on the fly which is especially useful in dynamic fast moving business environments.
Optionally extend Sage X3 inventory further by including advanced shipping, importing and container management. The core Sage X3 system includes advanced Radio Frequency warehouse management with the option to extend even further by including the best of breed WMS system “Geode”. With multi site management functionality part of Sage X3 inter entity and inter site transfers are fully covered as are back to back transactions between entities. (Raise a purchase order in one company and automatically create the purchase order in the second company). The system provides advanced shipping and dispatch for DMC delivery times and third party carriers as well as offering connectors to include 3PL’s in your overall inventory schema. The option also exists to include EDI as part of your Sage X3 distribution system.
Sage Inventory Advisor (SIA)
SIA is offered as a software as a service (SaaS). It provides companies with constant inventory feedback that aids with continuous stock improvement. Utilizing 28 modifiable advanced logistical algorithms SIA helps companies analyze factors such as item velocity, supplier accuracy, stock value and contribution and current stock position against your service and stocking objectives to help purchasing managers better time purchases, and promotions, to meet contractual arrangements and other levers that influence sales and optimized stock levels.