Inventory Optimisation
Analyse your product portfolio and automatically update your segmentation and inventory policies with Stringent, our inventory optimisation software
How Stringent can help you
The Stringent© app quickly analyses your product portfolio and automatically updates your segmentation and inventory policies to determine the optimal inventory setting for each SKU. These settings are then used to update your ERP systems with the optimum policy and planning factors for daily make, buy, and stocking decisions. Stringent© ensures daily actions are connected to your inventory strategy.
The objective is to optimise the portfolio of products, increase service levels across your network, capture more sales and avoid disappointing customers with stock outs, to reduce wasteful inventory costs, have lower inventory write-off costs, and to optimise your inventory investments.
Where Stringent© has been implemented, customers have experienced (on average):
10-20% reduction in inventory
10-15% reduction in 3PL costs
5-17% increase in sales
Why inventory optimisation is so important for businesses
Experience shows that products are not always set up to perform at their optimum, particularly as time moves on. People, processes, and systems get swamped. Sales opportunities get missed, unnecessary costs creep in, and $ invested in inventory is not optimised. Stringent© addresses these issues.
It takes time, effort, diligence, persistence, and knowledge to analyse performance of all items in a portfolio, and then to keep the key factors up to date. We developed Stringent© to do the heavy lifting quickly, automatically, and at low cost. Refreshing the reports is simple once things are set up.
The reports interface with any ERP system, using common formats. No complicated integration is required.
How up to date is your portfolio? What insights were used to allocate product categories? How long does this take to refresh?
Stringent© automates the tedious and time-consuming process of categorising products into optimum segmentation. It quickly analyses tens of thousands of SKUs based on verified data and insights, and shows the results for you graphically. Report by SKU updates key factors in your ERP that drive daily inventory decisions.
Stringent achieves your goals to:
Optimise your product portfolio, refresh segmentation, and keep your inventory relevant.
Align your supply chain strategy and inventory policies with your sales and marketing strategy, at each stocking location at a SKU level.
Save time and effort to review every item, ensure it is relevant, and update the master data.