INVENTORY CONTROL Software Module
Optimize external and internal replenishment routines and take full control of your total inventory situation. IBS Inventory Control software lets you profit from an extensive range of options and features that match your operational needs and processes.
HIGHLIGHTS of Features & Benefits
- Automated tool for optimizing
- Inventory management
- Increases inventory turnover
- Improves fill rates and service levels
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However simple or sophisticated the methods you use, IBS Inventory Control makes the replenishment process straightforward and easy to manage, working with other IBS Enterprise applications to make certain that all elements of your operations are well planned.
ADAPTABLE FOR ANY REQUIREMENTS
IBS Inventory Control suits any type of company and operation, from day-to-day replenishment to advanced analysis of service performance and slow-moving products.
IMPROVE PERFORMANCE
IBS Inventory Control helps you make reliable decisions on which products, when and how much to replenish.
Making the correct decisions about stock replenishment quickly improves efficiency and profitability. Product values are periodically updated through various methods and rules, and include:
- Forecast of future demand
- Economic order quantity
- Reorder points
- Safety stock level
INVENTORY SEGMENTATION
Adapt different rules for calculating forecasts, EOQ, reordering points and safety stock for different user-defined item segmentation. This lets you start simply, with the same rule for all items. Later, you can simulate and adapt more advanced calculation rules for different item segments, allowing for continuous performance improvement over time.
SUPPLY CHAIN MANAGEMENT
The basis for inventory and supply chain management is the physical distribution network. IBS Inventory Control defines a unique multi-level distribution network per product, defining where you store the product: with external suppliers or own production for internal supply. The network or warehouse structure defines transportation method and time between the different warehouses.
Replenishment suggestions created in IBS Inventory Control optimize both external and internal replenishments. Several suggestion methods help you decide when to buy, produce or ship goods between warehouses, optimizing the total inventory situation.
Demand forecasting
IBS Inventory Control gives you several demand forecasting options.
Demand history –
Automatic analysis and suggested best method. Also pinpoints slow-moving products.
Copy demand –
Copy demand history of old items to the new replacement items.
Customer forecast –
Combine demand history with your customer's own forecast (Efficient Consumer Response, ECR) as a basis for future demand forecasting.
Production demand –
Use demand from production as a base for forecasting. Also lets you control dependent demand.
Monitoring forecast deviation –
Automatic monitoring and adjustment if necessary.
Several different forecast methods can be applied separately to item segments, to suit differing demand patterns. The system also keeps track of demand figures per customer, and calculates demand data on item, warehouse, customer and period. The retrieval of an activated demand plan, production plan or sales and operation plan can be performed automatically.
OPTIMIZATION
IBS Inventory Control gives you tight control over basic values, signaling deviation from your specified requirements.
Manual override facility –
Advanced, fast update functions help you override values manually for all system-calculated values, and let you specify an end date for the override.
Standard areas –
Automatically monitored, allowing you to concentrate on error areas signaled by the system.
REPLENISHMENT SUGGESTIONS
The system creates both internal and external suggestions, based on the inventory method, the supply network, actual stock levels and expected demand. Suggestions are available online for your evaluation and can be copied to a purchase order. Promoting a demand, from suggestion level to order level, can either be fully automated or done through a manual review process if the demand passes through automated review without warning.
Choose from three extensive key purchasing alternatives:
Continuous review –
Best suited to critical or high-value products bought singly, where tight control is vital.
Periodic supplier-controlled review –
Geared to coordinating purchases from suppliers by predefined controls such as target date, interval, total value, volume or weight, quantity, discount level, etc. Includes a simulation tool for defining purchase review cycles for a product line.
Periodic net demand analysis –
Ideal for long-term requirement planning.
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A purchase suggestion with all items that are purchased from one supplier.
ACCURATE INVENTORY ANALYSIS
Accuracy is one of the most crucial factors when it comes to inventory control. For example, faulty lead-time figures in your inventory calculations have a direct, negative impact on subsequent calculations. To assure accuracy and to measure current performance, IBS INVENTORY CONTROL has multiple methods for analyzing current performance, including:
- Volume value and movability
- Excess stock
- Trend or seasonal analysis / adjustment
- Inventory turnover
- Lead-time analysis / adjustment
- Supplier and customer service level
- Demand variation analysis
- Signal system for unexpected deviation
- Automatic user-defined review codes on purchase suggestions
In parallel with an analysis, you can take immediate action to adjust methods and parameters.
SIMULATION
Simulation enables you to evaluate the impact of planning changes (in service levels, lead-times and costs) on turnover and tied-up capital.
You can perform a variety of simulations on replenishment suggestions:
Purchase simulation –
Interactively suggests new replenishment quantity based on actual availability of the item, including actual stock, new sales orders entered, new manufacturing orders, changed purchase orders, etc.
Interactive line buy –
Increases a purchase suggestion's size to meet user-defined target values for weight, volume or value.
Special buy evaluation –
Evaluates and applies optimal purchase quantities for items or item groups, when you anticipate a one-time discount or a price increase.
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