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Beyond the Basics of Inventory Management

There are well-known quick fixes an inventory management solution can bring to a distributor, such as cutting back on disappearing products or eliminating user error from incorrectly typed SKUs on a manual tracking spreadsheet. But the data available from inventory management platforms can also present a long-term strategic opportunity in the form of improved demand planning, exposure of costly trends and even visibility into competitors share of customer spend.

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By Elizabeth Galentine

December 10, 2019

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man holding tablet with pie chart in warehouse

There are well-known quick fixes an inventory management solution can bring to a distributor, such as cutting back on disappearing products or eliminating user error from incorrectly typed SKUs on a manual tracking spreadsheet. But the data available from inventory management platforms can also present a long-term strategic opportunity in the form of improved demand planning, exposure of costly trends and even visibility into competitors’ share of customer spend.

Improved Demand Planning

Standard demand planning and forecasting is inherently a backward-looking process that is based on…

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