A perfect inventory management system is vital for manufacturing OEMS. Without managing ins and outs of business, an OEM will be left struggling to answer important question and taking important business decision.
An OEM didn’t earn the status of best by buying a software. They worked to establish many habits, and continued to fine-tune their efforts to keep an impeccable track of inventory in hand. Inventory management can be significantly improved by integrating informative and helpful software.
But the question remains same: how?
What is the best way to integrate informative and helpful software? Here in this article we are recommending some trends to improve inefficiencies and create best inventory flow.
1. Apply Special Promotions
OEMs can always settle on promotional deals and discounts according to stock level which play into the current stock levels. They can make a habit of adding promotions to keep audience engaged. While this is definitely a marketing priority, but such tactic can be only possible, if an OEM have EPC for Automotive Manufacturing Industries.
2. Review Forecasting
What is happening in the organization and how is it impacting the business, its needed to be analyzed. Software like EPC for automotive manufacturing industries is capable to review the larger aspects of an OEM at regular basis and analyze social trends as well as local community trends. This is an extremely useful thing which can help OEM capitalize on social movements.
3. Audit Stock
EPC for automotive manufacturing industries can be very helpful, it is also capable to get in there and audit the stock. OEMs need to make sure that numbers match and make sense. Human errors often cause substantial problems, whenever any department personnel don’t bother to take effort and double-check periodically.
4. Sales Analytics
Information is most valuable thing and it usually dictates the decision-making process. Sales analytics can really help OEM untangle a complicated story. After integrating software, OEMs will be capable to review and analyze things like daily stock, unpredictable boosts in sales of a certain spare part and much more
5. Review Inventory Quality
OEMs need to review the shelf life products before they expire. For example, preventative searches can help OEM push a promotion to product about to expire. It can help tackle the inventory issue before it becomes a direct cut off bottom line. If an OEM is quick and habitual about it, they can retain tight quality control, avoid product loss, and generate more revenue.
Know the Product In and Out
Managing the product properly requires extra knowledge. The manager at an OEM unit should be able to decipher details of the product, like:
- Classification of the product?
- How many SKU’s or variables does it have?
- Current trends with the product?
This will help them to inform that from where the product should be housed and when it is needed to be reordered. Parts manager needs to understand the product lines inside and out, and make practical decisions based on the things they know.
Know the Technology
It seems to make sense that parts managers should be aware of the latest technology. Basically they know the functionality, but face hard time in grasping the nuances of the modules. Here, we are not talking about manual methods of course. Any OEM who that wants to remain competitive should have software like EPC for automotive manufacturing industries.
Make Predictions
Inventory management also involves prediction. It requires a lot of market understanding and efforts to do so.
For example, an OEM is hosting a sale. It is a BOGO product. Now it is the responsibility of sales manager to order products. But the question is, how much? Double? Triple? Or perhaps 10 time more?
The point is that the sales manager needs to forecast, about many different variables to consider their ordering habits. It is something that requires a lot of practice and research, but it will pay off tremendously if they are able to recognize the patterns.
The above example is just for a single product. If we talk about big picture then it includes a whole array of things. It really is a comprehensive approach, and something sales managers should be happy to take on.
The addition to this, sales managers can surely make tasks easy for OEMs, but we can’t neglect the fact that an inventory management software could change things up dramatically. Consider finding a dedicated individual who can accommodate new inventory expansion.
EPC for automotive manufacturing industries software makes keeping to up described habits a whole lot easier. Utilize the software which save your time and money, yet remains extremely instinctive. The motive is to offer such a platform that can grow OEM business, making the transition to it clean and easy.
In case you have any question or query just connect to www.intellinetsystem.com
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