Determining the right stock management system for your business and a strategy for back-office integration requires considering your needs today and your plans for future growth.
This system is about specifying the size and placement of the goods that a company has in stock. Stock management is often important for numerous departments within a facility in order to protect the planned course of production against the possibility of running out of critical materials or goods.
How does this system control your stock?
• Competing stock requirements
Stock management also encompasses the important connections between replenishment lead time, asset management, carrying costs of stock, future stock price forecasting, physical stock, available stock space, demand forecasting and much more. By balancing these competing requirements, a company will discover their optimal stock levels. This is a never-ending process, as the company will need to shift and react to its environment as it changes and grows.
• Push and pull
To put it simply, stock management is ruled by first the customers, who pull goods out of stock, and second by the company that pushes the goods out of stock based on orders and demand.
• The E-economic Way
With the E-economic Stock Management add-on module, your stock list goes above and beyond a general product directory. It enables you to:
1. Receive a clear and structured overview of your stock
2. Optimize and improve your performance and business
3. See which products are in stock, find out when to reorder, learn which products are selling as expected and which ones are not, and much more
4. Receive an accurate overall picture of your stock