Those in the wholesale and distribution sector are being warned against relying on the out-of-date ‘crystal ball’ to manage one of the most critical elements of their operation: stock.
Research by the developers of the IRIS Exchequer accounting and business management system has shown that mid-sized organisations are still using time consuming manual methods and ‘guesstimates’ to control stock-holdings instead of automated stock forecasting systems, which are proven to be more accurate.
With the tight control of costs a top priority for all distribution companies this autumn, Paul Sparkes, Product Director for IRIS Exchequer said: “We are shocked that so many still rely on ‘guesswork’ to run their businesses. Those in the wholesale and distribution sector currently face a unique combination of pressures; global competition, rising customer expectations and escalating energy and storage costs. With margins cut to an absolute minimum, it is essential to achieve the greatest return from fewer resources by ensuring that stock is maintained at the optimum level. What is the point of tying up cash on unnecessarily high stock levels and on unneeded warehouse space?”
The latest autumn release of IRIS Exchequer (www.iris.co.uk/exchequer) incorporates enhanced Stock Forecasting functionality that is designed to deliver further operational savings at this crucial time including the ability to plan stock-holdings between a number of sites and new ‘drag and drop’ scheduling tools. Paul continued: “There is no point in having one warehouse fully stocked and another lying half empty. Technology can now easily forecast sales and usage based on sales history averages or trends, customer schedules, annual company/product growth combined with monthly or seasonal factoring; taking all the guesswork out of planning and making optimum use of the space available. The IRIS Exchequer Stock Forecasting module provides a comprehensive set of options and parameters resulting in a highly configurable system that saves money and increases productivity with the added advantage of all information consolidated in the central business and accounts system.”
Those using the integrated system report reduced overheads relating to stock management and increased productivity. One of the leading worldwide manufacturers of orthodontic appliances, Forestadent, who use the powerful planning engine within the IRIS Exchequer Stock Forecasting module to full advantage said: “The management of stock and purchasing is critical for us. We were looking for a solution that would be easy to use, offer us meaningful reporting tools for management and effective stock control. IRIS Exchequer fitted the bill exactly.”
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