Identify, realize, and sustain savings with full cost transparency of your inventory!
Excess inventory ties up working capital, reduces liquidity, and impacts profitability. However, industrial and retail companies rely on decade-old processes and IT-systems to manage their inventory. This process is largely manual, error-prone, and doesn’t leverage today’s technological capabilities. Maximum cost transparency is crucial to identify wide-ranging savings. Yet, it is often limited. Artificial intelligence (AI) is ideal for monitoring ever-changing material demand patterns and supporting people to focus on the exceptions. But to people managing thousands of materials, it is often not available. Real-time analytics could provide instant cost evaluations of intended actions, but real-time analytics again are often not available. Therefore, it is not surprising when proclaimed saving targets are not reached. Those saving targets are often pure fiction, a consequence of not enough software support. It is long overdue to rethink inventory management from the ground up. We did – and brought to life the Inventory Navigator software.