3 Things that will Kill Your Manufacturing Business and How to Avoid Them

Inventory levels

Manufacturing and distribution businesses drive most of their profits from their inventory. That means inventory management and replenishment should be key areas of concern to maintain a healthy, thriving business.

Using inadequate tools like spreadsheets, don’t give you the ability to control your inventory correctly. Here are the three key issues that businesses like yours face, and how the inventory replenishment app, NETSTOCK solves them:

  1. Out of StockPoor Visibility – it’s almost impossible to know what’s going on and what’s going wrong in your warehouse when using some combination of your ERP and an inventory spreadsheet. The NETSTOCK app connects directly to your ERP system and it transforms your ability to see what items need your attention today with the easy-to-read dashboard and the item classification matrix. The dashboard includes a data purity widget to help you continually improve your ERP data and productivity.
  2. Stock-outs – the easiest way to lose a sale and your customers, is not being able to fulfill an order because you’re out of the item. Worse is the idea that the sale could go to a competitor. NETSTOCK shows you where you’re stocked out and where you’re about to be stocked out on the dashboard, including a “Top 5” for the most important items that are at risk. The app helps you create dynamic, data-based forecasts that help you keep your stock at optimal levels and minimize painful stock-outs.
  3. Excess stock – most companies fight the stock-out problem with a costly solution: lots of extra stock. That’s a massive amount of capital wasting away on your shelves just so you don’t get caught without a key item, and that’s before you factor in the costs of insurance, obsolescence, breakage and storage on all that extra stuff. NETSTOCK helps you determine ideal safety stock levels so you can cut the excess down and free up capital. One new NETSTOCK user saved a million dollars thanks to the app, which they used to reinvest in their business and grow the company. What could you do with that kind of freed-up cash flow?

For more information contact Crestwood at sales@crestwood.com

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