Netstock announces the launch of Excess Redistribution, an innovative new feature that empowers businesses with the ability to instantly identify and redistribute excess inventory. This novel feature is now live within Netstock’s Predictor Inventory Advisor (Predictor IA), Netstock’s cloud-based inventory management and forecasting solution for wholesalers and distributors. Excess Redistribution analyzes an organization’s existing and forecasted stock, enabling planners to intelligently relocate and rebalance supply to best meet demand and free up working capital.
"Navigating the complexities of inventory management and supply chain planning has long been a challenge for SMBs, exacerbated by the turbulent macroeconomic conditions and supply chain disruptions of recent years,” says Barry Kukkuk, CTO and co-founder of Netstock. “At Netstock, we understand managing inventory levels is a balancing act and optimizing inventory to meet demand efficiently is of critical importance for businesses. With the launch of Excess Redistribution, we are providing SMBs with unprecedented visibility and flexibility to strategically manage their inventory, ensuring goods are where they need to be and when, ultimately enhancing customer satisfaction."
Key Takeaways:
- Excess inventory is a longstanding problem hindering efficient business operations, resulting in tied-up valuable capital and soaring storage costs. For SMBs with multiple warehouses or locations that find themselves purchasing inventory in excess of demand, a lack of visibility and intelligent forecasting capabilities makes it more difficult to understand if goods are exactly where they need to be and when. Businesses that traditionally rely on manual systems and spreadsheets, inaccurate historical data and intuitive order planning to balance supply and demand across locations often face inefficiencies that result in excess stock, stock-outs, wasted time and resources, and unsatisfied customers.
- With Excess Redistribution, businesses also have a way to redeploy existing excess inventory to other locations where those same items are running low. In a matter of minutes, the feature analyzes an organization’s inventory across its network, identifies surplus stock, and makes recommendations for a demand planner to consider regarding where goods should be relocated to best meet local demand. Once relocation targets are accepted, Excess Redistribution creates an automated transfer order in the enterprise resource planning (ERP) system. Ultimately, goods are ordered and stocked in the most optimized fashion, which cuts procurement costs and unlocks working capital, maximizes sales opportunities and creates efficient replenishment channels with ease.
