10 Oct Realtime Stock Update
Stock is Cost. Stock is Money. Stock is opportunity. It depends on how stock is perceived by the business and the seriousness about conducting its operation.
Real time stock information is a must for managing supply-chain business optimally. Real time stock information provides a means to avoid stock-out situations, to eliminate excess inventory and to schedule orders just-in-time. Analysis of stock movement and valuation provides the Management a tool to determine products in demand, health of assets and impact on cash.
Some of the challenges of stock management are:
- Breaking down the inventory into safety stock, replenishment stock, and normal stock
- Integrating sales forecast data to accurately calculate safety stock levels
- Determining how often to order new inventory items
- Taking into account changeover and inventory costs
- Determining excess stock and its impact on Accounts
This is where ‘real-time stock update’ steps in with benefits like transparent and smooth flow of operations. Just like notifications on our phone, these updates keep you in the loop with every change that occurs so you never have to worry about being a step behind. Also it enables management to have accurate reports related to Audit, Tax and Compliance requirements; with insights about the business that are extremely valuable.
In today’s e-commerce world; where expectations of delivery is near-real time; where disparate systems from warehouse agents, logistics providers, suppliers and customers need to be integrated to provide a connected & cohesive trading platform; real-time stock updates is a must in any industry; be it Retail, Oil& Gas, Agriculture or Manufacturing.
Winvest Technology Consultancy Services, headquartered in India is a leading IT solutions and Services provider. With the team from Winvest that brings forth experience of managing complex projects across geographies, you can be assured that your IT landscape is in safe hands.
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