Dear Santa – An Inventory Management Wish List

I grew up writing letters to Santa at Christmas time, asking for all a child’s heart desires. Bicycles, ponies, footballs, puppies, and more. I know a lot of you did the same. But do you ever take the time to write out your wish list for your business? If you were to sit down and write out a inventory management list, what would be on it? From talking to our customers, we’ve found a few running themes both on the retail and manufacturing sides. Here’s our typical new customer’s wish list:

Better Inventory Management needs the Magic 7

Better Demand Forecasting – Our customers come to us with some form of forecasting in place, whether it’s a series of spreadsheets, an older legacy system, or another demand forecasting system. They come to us looking for forecasts that are more accurate and more reliable. Forecasts you really can stake your business on.

Fewer lost sales – Every retailer and manufacturer loses sales from being out of stock. Every customer has always told us they need to reduce lost sales.

Efficiency – Everyone is always looking to do more with less. Unfortunately, many demand forecasting and supply chain solutions provide a lot of data but not many efficient ways to act on all that data.

Lead time forecasting – Lead time forecasting is by far the biggest win for any of our customers. Every retailer and every manufacturer relies on shipments from other companies. Late shipments are a hassle for every company that we talk to.

Accessibility – More and more businesses allow employees flexible schedules and work from home opportunities. Many of our customers are looking for ways to facilitate working on the go without a lot of extra hardware or software licenses.

Profit – Who doesn’t want to make more money? Our customers are looking for powerhouse solutions that provide maximum ROI.

Quick Turn Around – Our customers are used to system install times that take months, even years. They want to see results faster.

I’m proud to say that at Data Profits we deliver on all these wishes and many more. Our iKIS™ demand forecasting and supply chain solution installs in as few as 30 days and costs just a fraction of other big name systems. If any of these wishes are on your Christmas list, we can have you well on your way to a great 2016 before the 1st quarter is even over. Contact us today to set up your demo and see how iKIS™ can Tighten the Links in Your Chain™.

Happy Holidays from Your Friends at Data Profits!

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Stuart D

Stuart Dunkin is a strategic visionary who leads by calling on his broad range of experience as a former retail executive as well as a consultant for top retailers and for the E3/JDA software company. He founded Data Profits to solve a real-world problem plaguing retailers today – the disjointed relationship between supply chain data, people and business goals. He has experienced first-hand the challenges and frustrations that occur when decisions are made based on wrong data, which often leads to the wrong actions being taken with crippling results like overstock, out-of-stock, and increased working capital.
Stuart graduated from Auburn University, with bachelor of science in business administration.