How do you predict when you will run out of stock or more importantly how do you find out if you are going to run out of stock?
What if you could predict the exact day you were going to run out of stock and that date was a fortnight away?
You might actually be able to do something about it…
To do this you need to know the daily inventory sell thru rate and then you need to know the estimated delivery dates of each Purchase Order that you have on for stock purchases.
Once you have this information for every item you have in stock then you will be able to work out when you will run out of stock.
Running out of stock loses customers, it causes staff frustration, and staff and management time are consumed dealing with customers to explain why and find possible remedies. It’s worth doing to save you this pain.
You will also get another significant benefit…
You will find out the date you will run out of stock for all your over stocked items, so you will be able to make sure that your buyers don’t reorder more stock of the things you don’t want and ensure that they only order the things that you can sell thru, the stuff that you do want.
JIWA business intelligence has a function in it which allows you to find out stock out date of every inventory item in your warehouse. Don’t leave home without it.
Learn more about how business intelligence can benefit your business –
Learn more about what Jiwa has to offer here.