Inventory Management

The powerful tools in SYSPRO's Inventory Management suite provide you with a superior stock control system to be able to optimize your stocking levels, free-up working capital, provide more effective customer servicing and benefit from improved profits.

Our inventory management solutions ensure:

• The provision of a comprehensive stock traceability system and recall management system, so that the key elements that drive inventory across the supply chain are coordinated, tracked and controlled to optimize inventory.
• Standard analysis of slow-moving, excess, active and static stocks to enable targeted promotional and product rationalization programs, as well as accurate obsolescence provisioning.
• Improved warehouse utilization and systems for the procurement and production scheduling teams.

Improve forecast accuracy

Improved forecast accuracy is essential to minimizing inventory holding and obsolescence costs, especially in forecasting environments where product ranges and configurations are extensive, bills of material are complex, and raw material and component lead times are long.

SYSPRO Inventory Forecasting provides the tools to measure the quality of your sales forecasts and enables you to produce automatic or manual forecasts based on sales history, as well as to easily identify those products that contribute the most to your business in terms of sales value, gross profit, cost of sales, quantity sold or hits.

Improve order fulfilment performance

Our Families and Groupings and Forecasting solutions enable you to minimize forecast error and manage seasonality, thereby improving order fulfilment performance. This functionality is complemented by features such as available-to-promise and various time fence indicators, which give sales and production staff a reliable view of what they can promise to customers and when.

Get visibility of current and future supply and demand

SYSPRO's Material Requirements Planning gives you clear visibility to the integrated effect of current and future supply and demand, thereby enabling you to make better purchasing and production decisions and reduce excess and obsolete inventories. The inclusion of sources of supply and demand is configurable and various reports and related review programs enable easy identification of potential oversupplies and seamless execution of suggested actions. Order policies by stock code at warehouse level enable you to implement lot-sizing rules for purchased and manufactured items. Standard reports such as the Inventory Exception and the MRP Potential Oversupplies reports help you identify excess inventories and possible problems with your lot-sizing techniques.

Optimize your inventory

SYSPRO provides tools to enable you to track and evaluate your forecasts, as well as to identify the possible causes of forecast errors. These tools assist you in optimizing your forecasts to produce the best possible outcome with minimum forecast error. SYSPRO's Inventory Optimization solution enables the entry of manual forecasts, as well as the automatic generation of forecasts via a variety of forecast algorithms, including those that compute for trends, seasonality and cyclical events. In addition, the module provides a competition forecasting method (also known as focus forecasting or the tournament method) which attempts to select the most suitable forecast algorithm, based on a selected error measurement and your SYSPRO sales history data. This enables you to compare results to determine which method is the most suitable for any particular item, whether you forecast products at code, revision, release, or warehouse level. A tracking signal is used to indicate when the validity of the forecast might be in doubt; those items with high forecast errors are highlighted and can be reviewed and adjusted as required.

Forecast accuracy depends not only on the regular evaluation of the forecast error, but also on the integrity and nature of the source data. In SYSPRO, forecast accuracy is enhanced through the ability to automatically filter and adjust outliers, as well as to manually adjust forecast base data for quantitative and qualitative factors. Lost sales can also be included in the demand profile.

Furthermore, SYSPRO's proxy functionality enables the forecasting of new products based on the sales history of similar superseded products which is useful in industries where product life cycles are short.

Features include:

• Multiple warehouses and bin numbers
• Multiple costing methods
• A full Kardex facility
• A stock take system, including cycle counts and extensive reporting.

Factsheets:

Inventory Management Factsheet

Inventory Import Factsheet

Case Studies:

Gorant Chocolatier Case Study

Vanns Spices Case Study

Magnacharge Battery Case Study

Related Links:

SYSPRO a winner in the 9th Annual American Business Awards