Strike the perfect balance between too much and not enough with the safety stock in your warehouse. Improve fill rates while cutting excess costs and saving serious time.
Why do you need safety stock?
The magical balance of having just the right inventory at just the right time is truly the holy grail of inventory management. Hitting that goal requires one thing: optimal safety stock levels.
Don’t miss out on sales you should’ve made because you stocked out! And don’t carry costly excess stock you don’t need. Find the right safety stock levels for every single product. In every location. Every day.
Not only are we protecting the fill rate, we are targeting the fill rate we want to achieve and computing safety stock to deliver that fill rate. With optimally set safety stock we take investment away from products that do not need it and invest more in products that do.
The result: lower levels of inventory with higher product availability and more sales.
Why is it that you always have too much of the items that don’t sell? Excess inventory in your warehouse is a major problem:
- You have to warehouse it, costing you money
- You have to insure it, costing you money
- It’s value depreciates over time, costing you money
- It gets stolen, costing you money
- You have to keep counting the same stock over-and-over, costing you money
- A large chunk of working capital is tied up in dead stock, costing you money
NETSTOCK can help you release working capital by reducing your excess inventory.
Stock-outs are terrible for your business. When a customer wants to buy an item from you and you don’t have stock:
- You are losing the sale of the product
- The customer may decide to buy their whole basket of products from your competitor
- Your competitor may give your customer great service, and now you’ve lost a customer for life
Stop fighting fires all day. Use NETSTOCK to minimise your stock-outs and increase your sales.
Place orders quicker
It’s your least favourite time of the month: Ordering time. You spend hours, if not days doing mundane, soul destroying work:
- Gather all sales figures for all products from a supplier
- Attempt to do a forecast, taking into account seasonality and trends
- Guess what kind of safety margin you should build in, because you don’t trust your forecast, or your supplier
- Check what stock you still have on-hand, and offset it with firm orders from customers
- Take the lead time for delivery into account
- Take minimum order quantities, order multiples, or other supplier constraints into account
By the time you have all this information together in the mother-of-all Excel spreadsheets, it’s out of date. Instead of fighting spreadsheets every month, let NETSTOCK help you place optimal orders in minutes instead of hours or days.