With today's technology, any company can track global inventory across internal and external locations of the supply chain, as well as track actual demand and forecast consumption and product sell-through at multiple tiers and channels of the demand chain. Changes in either supply or demand can be instantly analyzed to identify problems and determine solutions. Excess inventory can be detected before it becomes necessary to write it off, and shortages can be identified before they result in missed revenue opportunities.
With ERP systems complemented by this inventory visibility and order fulfillment supply chain application software, a company can manage upturns in business and use the knowledge that was acquired during downturns. The result is a drop in excess and obsolete inventory, reductions in order cycle times and operations costs, and an increase in orders and revenue.
In uncertain economic times, farsighted executives make the investments that will prepare their organizations to take full advantage of unexpected opportunities. Their readiness to take calculated risks assures the future success of their companies.
About the Author: Satyajit Singh Mecker has served as president, CEO and chairman of the Board of the solutions provider Valdero since its inception. He is responsible for setting Valdero's strategy and vision, and overseeing all day-to-day operations. Singh has been at the forefront of supply chain solutions for over 15 years.