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Using ABC Analysis in Inventory Management

EazyStock

What is ABC Analysis? ABC inventory analysis is a method used to classify a business’s stock items into three categories – A, B and C, based on their value to the business. In this blog post we’ll delve deeper into the intricacies of ABC analysis and how it can help businesses improve their inventory management practices.

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Supplier Relationship Management: Expert Guide for Field Service

WorkWave

ServMan by WorkWave is ready to help you tailor an ERP solution that’s a perfect fit for YOUR business. GET A FREE DEMO Goals and Benefits of Supplier Relationship Management (SRM) Supplier Relationship Management (SRM) is a strategic approach to managing the interaction and relationship with suppliers for better business outcomes.

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The guide to distribution software

EazyStock

Enterprise resource planning (ERP) software. An ERP collates data from all other packages to give an overview of the core business operations. For example, do you need an ERP upgrade and replacement when reviewing your ERP? EazyStock is inventory optimization software that integrates with current business systems or ERPs.

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How do you forecast lumpy demand?

EazyStock

Using the same analysis for a product with an erratic demand type for one with slow demand will result in inaccurate forecasts. Enterprise Resource Planning systems (ERP), Warehouse Management Systems (WMS), and eCommerce platforms can offer a certain level of forecasting. It also reduces the need for you to be a statistical whizz.

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How do you forecast lumpy demand?

EazyStock

Using the same analysis for a product with an erratic demand type for one with slow demand will result in inaccurate forecasts. Enterprise Resource Planning systems (ERP), Warehouse Management Systems (WMS), and eCommerce platforms can offer a certain level of forecasting. It also reduces the need for you to be a statistical whizz.

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6 Inventory Control Techniques for Stock Optimization

EazyStock

ABC analysis is a good inventory control technique to segment your warehouse stock based on the value it brings to the company. ABC analysis, will help with this. Many ERP and WMS systems will use one of these approaches. Many businesses (WMS and ERP systems) still use a basic stock days model to calculate safety stock e.g

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The fundamentals of demand planning and forecasting

EazyStock

Some ERP or inventory management systems will also offer demand planning functionality. These could be quantitative methods such as exponential smoothing, regression analysis or econometric forecasting. Or qualitative methods, such as the Delphi method, historical analysis or the panel consensus. How can EazyStock help?