Inventory analytics helps you with inventory optimization and generate smart insights
Enterprises, especially manufacturers and retailers, are facing challenges in managing inventory effectively since with globalization, the supply chain has become much more complex. Materials are imported from all over the globe to make the supply meet demand across the enterprises. Due to this, making use of inventory data analytics to improve the supply chain’s effectiveness is becoming more important in the current global marketplace. Inventory optimization is the need of the hour, to eliminate the ambiguity of how to distribute the right inventory, in the right quantity, to the right locations, at the right time.
Companies often experience challenges in gaining any valuable insights from their data, which can help them in demand forecasting and inventory planning. The current inventory planning processes are often ad-hoc in nature and every stage starting from data collection, reporting, till inventory analysis is done manually.
SIA, powered by cutting-edge technologies like AI and machine learning, enhances inventory transactions and helps companies identify trends and patterns in inventory use. Inventory analytics anticipate the optimal inventory that helps the organization in cutting overstocking costs, while also allowing them to classify the inventory materials based on their priority or popularity. Our system also ensures no occurrences of out-of-stock situations, thus enhancing the customer relation and improving the overall profits.