Sage North America announced the availability of Sage Inventory Advisor, a cloud solution that integrates with Sage ERP systems to provide companies with a daily diagnostic of inventory and forecasting.
As a cloud-based subscription service, Sage Inventory Advisor is accessible in a Web browser and on mobile devices. The product is currently available for those businesses running Sage 100 ERP, Sage 300 ERP and Sage ERP X3.
Some of the current concerns with inventory are:
- 42 per cent rated stock-outs as their primary concern for inventory management.
- 37 per cent were primarily concerned by excess inventory.
- 21 per cent said they spend too much time calculating reorder quantities.
Joe Langner, executive vice president, mid-market solutions for Sage, inventory is one of the largest business expenses for a distribution or manufacturing company. How well businesses adjust to demand and manage their inventory has a significant impact on the amount of capital invested in stock and associated costs. Eventually, the cost of inventory impacts the bottom line dramatically.
Designed for mid-market companies engaged in any type of inventory management, such as wholesale distribution, manufacturing, and retail trade, Sage Inventory Advisor integrates with Sage ERP systems and analyzes inventory data to identify where the biggest improvements can be made, produce quality forecasts, and suggest optimal replenishment recommendations.
Key Features and Functions:
- Dashboard
- Provides visibility to critical inventory KPIs and financials such as stock holding, stock outs, potential stock-outs, excess stock, and surplus orders
- Lists top items requiring immediate attention
- Allows drilldown to data
- Inventory Monitoring
- Provides early warning of stock-outs, potential stock-outs or surplus orders
- Recommends optimal replenishment and automatically calculates min/max levels
- Classification Matrix
- Classifies inventory into nine color-coded categories, allowing users to rapidly identify and focus on important items
- Ordering Schedule
- Shows what orders to place based on item policies (stock levels, forecasts, and so on)
- Allows sorting of purchase orders by personal preferences
- Order Management:
- Provides view of recommended new orders by supplier to place for the day
- Provides ability to amend orders and send them back to the ERP for processing
- Inventory Forecasting
- Dynamic, graphical forecast engine assists user in forecasting and planning for future replenishment orders
- Lists top under- and overforecasted items for further analysis and action.