Inventory Management Summary The largest asset that a distributor has is the items in inventory.  It makes sense then that the management of this asset is one of the most important tasks that a distributor has.  The success, or failure, of this task can have profound affects on the bottom line.

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You can have too much in stock, have a high level of customer satisfaction, but create a financial burden of procurement and carrying costs.   Or, with too little stock you save money but incur customer dissatisfaction.  So, inventory stocking is much like the three bears story; too hot, too cold, just right.  

To help you get it “just right” NewVision Inventory Management was designed to not only control your inventory items but to help you manage all the activities involved in procuring, locating and handling your stock items.   The inventory record lets you record all the pertinent information about the item; ID, description, cost, pricing, history, classification, units of measure, vendors, stock status, procurement path, etc.  This information is arranged in a logical, tabbed format to make it easy for your staff to locate items and utilize the information.  

You can easily manage inventory in multiple locations, and the feature is broad enough to include locations in plants or production facilities as well as distribution centers, warehouses and mobile locations.  Access to the stock status in these locations is easily available from sales and quote screens as well as purchasing screens.  

When combined with Usage Based Procurement, the replenishment methods available greatly expand your options.  In addition to traditional min/max, you have the option of using Economic Order Quantity (EOQ) or Item Class as replenishment methods.  NewVision helps you make sure that you have product in stock when you need it.  

Click here to review the key features of the NewVision Inventory Module.