FOOD & BEVERAGES
Give customers the products they crave on time
Fast-track your recipe for success by balancing inventory for financial gain and customer satisfaction. Using trusted predictive recommendations with automated processes, you’ll generate accurate forecasts that anticipate seasonal demands, prevent stock-outs or excess inventory before they occur, and quickly place the right orders to meet your demand.
Quick guide – Improve forecasting in your supply chain
This quick guide will introduce you to inventory forecasting. Learn three key steps that will help you more accurately predict future sales and avoid incurring excess stock and stock-outs.
Netstock predicts the right recipe for inventory success
- Manage expiry dates: monitor, manage, and analyze stock expiry, automatically removing expired items, selling to specific customers, and evaluating cost/revenue across channels, customers, or locations, with predictive insights into future expiry periods.
- Batch and lot tracking: Effortlessly manage inventory expiration by tracking lots, revealing when each batch will expire based on its unique lot and expiry date.
- Assign demand forecasting models: forecast by item, customer, region, unit, price, cost, or margin.
- Seasonal forecasting: create forecasts that account for seasonality, including items without sales history. Apply seasonality to items within a seasonal group, even if their individual sales history doesn’t show seasonality.
- Inventory visibility dashboard: see inventory holding and measure inventory KPIs in one easy-to-use dashboard. Quickly address stock-outs and reduce excess stock.
- Optimize automated ordering: use replenishment cycle and order size constraints (MOQs) to reduce stock-outs and excess inventory.
- Automatically classify stock: free up time and resources to focus on items that contribute the most to your bottom line.
- Sales linking: launch new products with a forecast based on similar products at the product or style level.
Netstock unlocks operating cash
Place orders quicker
Save time on planning, forecasting and ordering
Retain customers and increase sales
Reduce excess stock
Release cash that is tied up in excess inventory
Food & Beverages customers turn to Netstock to optimize their supply chain
Improving visibility for food & beverages customers
Now that we have the data, we can be more proactive than reactive. For example, the data shows us where there is a potential stock-out, and we can alert our customers, allowing them to change their menus timeously if needed.
Being able to adjust safety stock based on statistical modeling using history and forecast deviation instead of just a number of days coverage has improved our inventory fill rate from 90.9 to 98%.
Netstock enhances data in your ERP
Netstock integrates with leading ERP systems, automatically processing data to rapidly deliver smart supply chain recommendations.