Dirk Jan van Veen
Director of Operations
Inventory accuracy rate, Stock turnover rate, Order fulfillment time and accuracy, Square footage utilization, Rack utilization rate, Order picking speed, Receiving accuracy, Shipping accuracy, Turnaround time.
ABC analysis is a powerful tool for optimizing inventory management. This technique classifies items into three categories (A, B and C) based on their importance to your business. The benefits of ABC analysis include reducing inventory costs, decreasing pick time, improving cash flow, reducing the risk of stock shortages or surplus inventory.
Many companies also use simple rules (heuristics), such as taking a rolling average of recent sales as a the basis of their demand forecast. These work as a proxy to account for key factors that can impact demand include economic conditions, consumer preferences, seasonal fluctuations, competitor activity, industry trends, technological advancements, and more. When creating a demand forecast it is important to consider all of these.
Syncware gives you the power to filter data and gain deeper insights into your business operations like never before. No more sifting through mountains of data to find the information you need - our intuitive dashboard puts the power of data analysis at your fingertips. Make data-driven decisions with confidence, and take your business to the next level.