RedPrairie Inventory Management Software System is a powerful solution from a leading productivity solutions provider to help businesses understand and control the entire inventory management process. The result is better service, more accurate inventory control, and decreased expense for inventory management. In addition, increased efficiency in the supply chain can result in significant cost savings.
Commerce only works when goods are in place at the time the consumer wishes to make a purchase. If the desired goods are not in inventory, the most likely result is a lost sale. At times, it can even result in a lost customer over the long term, along with all of the sales that would have otherwise occurred through that customer relationship.
By helping businesses ensure that they know their inventory supply at all times, along with the various versions of inventory by size, appearance and price point, Inventory Management allows businesses to make certain that the desired goods are on the shelf and available for purchase when the customer is ready to spend money. Instead of a disgruntled lost customer, effective management of inventory makes it easier to have happy, satisfied customers that make purchases and increase revenues.
Through accurate forecasting, Inventory Management provides businesses with a tool that allows them to see into the future. The demand for styles and colors, for example, can be planned for ahead of time, so that shelf space is meaningfully utilized in a way that minimizes stocks of slow selling, low demand items, and maximizes stocks of “hot” items that are in demand, and can be sold at maximum profit.