Inventory is stock held by an organisation to support its business activities. To some organisations inventory management consisted of throwing more and more money at inventory in the hope that a philosophy "of nothing succeeds like excess" would rescue the organisation from the inconvenience and expense of a stockout.
Inventory management involves the control and optimisation of stock levels. Many organisations have only come to realise the value of inventory management in recent years.
Why Inventory Management Important?
At many sites the inventory is one of their largest assets. At most sites it constitutes an asset worth many millions of Rands. The reduction of inventory by as little as a few percent, will at most sites result in the investment in inventory being reduced by Million of Rands. This represents funds which the organisation can either invest in more profitable areas or reduce a debt on which interest is being paid.
When millions of Rands are at stake - of course inventory management is important.
ONIQUA'S INVENTORY OPTIMIZER
For more than a decade, Inventory Optimizer has continually grown to meet the needs of today's inventory managers. This best of breed analytic system is a sophisticated, decision-support system that analyzes and dynamically segments transactional data from any ERP system.
Inventory Optimizer addresses the unique needs of inventory held by asset intensive organizations. It has gained international recognition among industry leaders as being a powerful tool to manage inventory more effectively. Companies such as BHP Billiton, Rio Tinto, and Comalco have experienced large cost savings, increased service levels and the control that Inventory Optimizer delivers.
To learn more about Inventory Optimizer download the brochures displayed below.