Tradeware builds predictive planning processes with Netstock
Tradeware is a hardware wholesale supply company revolutionizing the Australian hardware market. With a commitment to excellence, they deliver products that set new standards in quality. With their extensive network of six strategically positioned warehouses spanning the nation, they ensure swift and efficient distribution, enabling customers to access their products wherever they are.
Adapting to rapid growth.
Netstock integrated with Sage 300.
Improved inventory visibility and supplier relations.
As a service and quality focused wholesale hardware supplier, Tradeware needed to focus on a large product portfolio for their valued customers. Maintaining the status quo of inventory and forecasts across so many products per location was very time-consuming. They relied on spreadsheets to manage their inventory, which was not a sustainable solution for their growing business.
“Our business experienced rapid growth, forcing us to realize that our existing processes would not keep up. The discovery of a purpose-built tool like Netstock was the game-changer we had been looking for,” explains Nick Colebatch, Inventory and supply chain analyst at Tradeware.
With Netstock, Tradeware gained full visibility into their inventory. The impact was evident: enhanced forecasting, streamlined processes, and, ultimately, a remarkable improvement in their fill rates.
The stock projections graph presents a comprehensive overview of safety stock, lead time stock, and reorder stock, allowing me to effortlessly connect the dots in what could otherwise be a complicated process.
Nick Colebatch, Inventory and supply chain analyst
Netstock empowered Tradeware to address forecast variations and to pre-empt any potential stock-outs from occurring. Without Netstock, they would be confined to a monthly snapshot of their stock position, missing out on the invaluable daily view that Netstock provides.
“I love the user interface and the pure visualization of the user experience. The stock projections graph, in particular, stands out as one of my personal favorites. It presents a comprehensive overview of safety stock, lead time stock, and reorder stock, allowing me to effortlessly connect the dots in what could otherwise be a complicated process,“ continued Nick.
Netstock’s Pivot Forecasting® – a game changer
Tradeware harnessed the power of Netstock’s Pivot Forecasting functionality to navigate the intricacies of managing promotions and seasonal variations. Nick explains, “By leveraging Google trends data, we can gauge consumer interest on new products and incorporate these insights to construct accurate seasonality curves for products lacking historical data. It’s a game-changing capability.”
The Pivot forecast functionality has helped Tradeware to achieve better results and free up time to drive ongoing improvement in their supply chain.
Another feature Nick loves is Netstock’s ability to save reports in a dedicated folder, allowing him to use Power Query or Power BI for further analysis. “Everything I need to monitor throughout the day is available in Netstock. And when it comes to conducting in-depth analysis, querying those CSV files is a breeze.”
Tradeware has improved supplier relations and can now present their 12-month projected order forecasts to suppliers. Nick emphasizes, “Our suppliers find this invaluable for their planning, strengthening our relationships and paving the way for successful collaboration.”
Netstock’s onboarding and learning process
The comprehensive training offered by Netstock exceeded Nick’s expectations, providing not just product education but also a deep understanding of demand planning and inventory principles. He affirms, “Our team received invaluable knowledge, allowing us to bridge gaps in our understanding. The Netstock Certification exam was a great eyeopener, spotlighting areas where we needed improvement.”
Having experienced numerous onboarding projects with other software vendors, Nick confidently says that Netstock surpasses them in professionalism and thoroughness. The commitment and meticulous approach of the Netstock team have been instrumental in Tradeware’s journey toward inventory excellence.
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