In today’s technologically advanced business landscape, you are doing a massive injustice to your business by not automating your inventory processes. It doesn’t need to cost you large sums, and you will undoubtedly see an ROI within a few months at the very latest, so the risk in this investment is minimal

In previous articles, we’ve looked at the real cost of inventory and at the internal and external factors that affect your inventory planning and management. In this article, we’ll look at Artificial Intelligence, IOT, and Machine Learning to see how this technology is impacting companies today by reducing costs, streamlining efficiencies, and even saving lives.

Netstock pleased to announce we’re a sponsor at SuiteWorld19, the annual NetSuite conference for customers, partners, media, and industry analysts.

Even though your company’s expenses, liabilities, assets, mark-ups, and margin calculations are mostly the responsibility of your finance department, it’s also important that your warehouse team and inventory planner understand the inputs involved in calculating the real cost of your stock. �

Achieving a balance between understocking and overstocking is an inventory planner’s daily reality. But there’s more to the job than just monitoring item levels – there’s an ongoing balance of risk factors, both internal and external, that a planner must be fully aware of to keep a warehouse running efficiently.

In the previous post, we looked at the basics around the supply chain and, more specifically, we discussed how the supply chain applies to small and mid-sized businesses. In that post, we saw that a supply chain is the movement of products from suppliers down to consumers, and at the same time, the movement of information from consumers to suppliers.

Many small and mid-sized businesses don’t think they have to worry about big topics like “supply chain”. They’re SMBs after all, and supply chain seems more like a problem for the big guys. But ignoring supply chain doesn’t make it go away. It’s still there, and you’d be surprised how complex it gets even for SMBs. The more complex it gets, the harder it is to manage, and the harder it is to keep under control.

Getting the most out of your investment in inventory is a daily issue for inventory-based businesses of all sizes. The increasing complexity of supply chains means your inventory team is likely struggling to understand what’s really going on and what problems are on the horizon. Why is this such a persistent and common stumbling block?

The Netstock team is proud to announce we’re a Gold Sponsor at Acumatica Summit 2019. We’ll be on the show floor at the Houston Marriott Marquis, and we’ll be sharing everything there is to know about inventory replenishment and inventory optimization.

Managing a warehouse in manufacturing, distribution, and retail environments is increasingly tricky, because even smaller and mid-sized businesses are dealing with a global supply chain. A warehouse is a dynamic work space that requires nimble leadership, and that includes your inventory planning.

Managing your company’s supply chain requires some tricky calculations. But all too often, planners and management will rely more on more intuitive understandings of how to plan their inventory instead of doing the math. For example, here’s a common intuition that we hear all the time from purchasers and planners:

This is a very common question. Let’s work with the two different parts of this question:

The Netstock team is happy to announce we’ll be a sponsor at this year’s GPUG, part of the annual Summit expo for Microsoft Dynamics ERPs.

The Netstock crew is proud to announce we’ll be a sponsor at SuiteWorld18, the annual NetSuite user conference for customers, partners, media, and industry analysts. We’ll be on the show floor at the Sands Expo & Convention Center in Las Vegas, and we’ll be sharing everything there is to know about inventory replenishment and inventory optimization. Find us at Booth #851 to learn how you can improve your NetSuite inventory with Netstock!

If you need to provide high availability to keep your customers satisfied, stock-outs are quite simply a nightmare. Dealing with angry customers can send stress levels of your employees soaring. 

Striking a balance in your warehouse is a daily challenge. Your fill rate shows you exactly how well you’re keeping up with orders and managing your inventory replenishment, but keeping that number high is easier said than done. 

The Netstock team is dedicated to informing you about supply chain innovations. It’s our passion and our expertise, and providing inventory optimization is why we built our app. On Wednesday, June 14th, we’ll be co-hosting a webinar with our colleagues at B2BGateway, who are integrated EDI experts, on the topic of leveraging the latest supply chain technologies. Together, we form a critical combo for businesses that want to maximize their profitability through their warehouse.

The Netstock team is excited to be at SuiteWorld17, the annual NetSuite user conference for customers, partners, media and industry analysts. We’re on the show floor at the Sands Expo & Convention Center in Las Vegas now, and we’ve got a handful of inventory management and replenishment experts ready to talk about all things inventory with you. Visit Booth 1026 to have a chat and see our affordable and easy-to-use inventory optimization app.

Acumatica Summit 2017 was the biggest event in the growing ERP publisher’s history, and the Netstock team was proud to be involved once again as a Gold Sponsor at the event. We caught up with Russ Graf, Netstock’s Vice President of Sales – North America, who was on hand in La Jolla to talk about the expo.

The Netstock team is proud to announce we are a Gold Sponsor at Acumatica Summit 2017. We’ll be at the event talking to users, prospects, and VARs about our cloud-based inventory optimization app, which seamlessly connects to Acumatica ERP.

In our previous blog posts, we looked why you should classify your products into ABC and how exactly to do that. So now that you’ve learned more about the benefits of classification, the next logical question is “What do I do with it?”

The general rule of thumb is gaining a new customer is more expensive than keeping an existing customer. Losing a customer hurts sales today while shrinking the company’s growth potential going forward.

Having excess inventory robs you from investing cash in other areas of your business, but a stock-out of inventory is even a more significant issue. 

Classifying stock items will allow demand planners to focus their efforts and allocate resources on the most significant items in their inventory.

Our crew here at Netstock just wrapped up a successful and busy Sage Summit 2016. As many of you know, we go to market as Sage Inventory Advisor in the Sage Software world, delivering affordable inventory optimization by coupling with a wide variety of the company’s ERP offerings.

We have identified that there are hidden costs associated with choosing Excel as your inventory planning tool of choice, highlighted that the problems usually start with your data, and suggested that ever-increasing complexity impacts sustainable inventory outcomes.

What data do you need to drive planning spreadsheets? 

In what way are these helpful?  In this post, we’ll look at how and why policy impacts your inventory and whether or not the model is of any practical value to a business owner.

Is supplier performance really important?

A customer case study

An all too common scenario:  Your company carries inventory to satisfy customer requirements yet no matter how much time you spend trying to calculate the perfect quantity to order:

Will the diligent application of the 9 steps to optimal replenishment orders result in perfect inventory balance, high customer service levels, and minimum inventory investment levels?

In inventory discussions we often hear the word “classification” and that it is an essential part of the fundamentals of inventory. What is meant by “classification” and why is it so important?

Minimize inventory stock-outs by implementing efficient inventory management strategies. Work with accurate forecasts, improve safety stock levels, develop strong supplier relationships, and more!

As the manager or owner of a business focused on providing customers with a high level of service while targeting a specific inventory value or stock turn, you will most likely have experienced the frustrations and difficulties in achieving the desired results.