Last month we brought you parts 1 – 3 of the six-part “Warehouse Wizard Series”, a joint effort by ScanForce and Sage Inventory Advisor to provide educational content for Sage 100 users who operate warehouses.
Read Parts 1 – 3 of the Warehouse Wizard Series
And now for parts 4 – 6:
Part 4: Incorrect Levels Drive Excess Inventory
While having excess inventory on hand can seem like a safe bet to make sure you can meet demand, it is not cost-effective and can stunt your business’ growth.
On the other hand, you can have the best methodology imaginable in place to optimize replenishment and avoid excess inventory, but if your inputs are wrong, you will still fail. Good decisions start with accurate data.
Read Reducing Excess Inventory to learn about how to address the complexities associated with not having a source of truth for your levels.
Part 5: The Advantages of ABC Analysis
Ranking your items lets you focus on the ones that really matter. Whether they’re high velocity/high value or slow moving/low value or anywhere in between, these criteria can help you make better decisions about where to focus your time and working capital.
Read up on The 5 Advantages of an Effective ABC Analysis to learn how these classifications can lead to increased profits.
Part 6: Free Tools for Sage 100cloud to Optimize Inventory
Your Sage 100cloud subscription comes with a number of free tools that were previously only available for purchase. Two of these products that are included “out of the box” are:
- DSD/ScanForce Multi-Bin Basic by ScanForce
- Sage Inventory Advisor Basics by Sage Inventory Advisor
Are you taking advantage of these features you already own? The infographic shows some of the functionality available to help you optimize inventory without purchasing any additional software.
That’s it for the series. Thanks for reading along! You’re a Warehouse Wizard!
Contact ScanForce or Sage Inventory Advisor if we can be of assistance with any of the initiatives you learned about in the series.