"If product isn’t available for customers to purchase because it’s out of stock, businesses lose out on revenue. But unused inventory incurs costs and takes up space. With predictive forecasting, businesses can make proactive decisions in line with customer needs." Fatima Mahamed, Demand Planner, Tarsus Distribution
In the age of the customer, market leaders build their competitive edge using data to anticipate what customers want and deliver it faster.
Like many business needs, supply chain and demand planning are going digital. Improving forecasting accuracy, and reducing stock-outs and excess stock, are fundamental to the success of a technology distributor and its channel. At Tarsus Distribution, which distributes a wide range of brands through its reseller network, our predictive inventory planning solution Netstock ensures that our supply chain is efficient and reliable.
From inventory optimisation, forecasting and demand planning, to replenishment, and sales and operations planning (S&OP), we are able to meet the demands of our resellers and enable them to deliver the best possible service, support, and overall solutions to the SMB end-user market at the best possible cost.
Procurement automation is about automating your procurement processes to maximise efficiency and reduce the time taken. It speeds up the procurement process by freeing employees from repetitive and time-intensive tasks.
Why procurement automation?
The supply and demand variables impacting any business’s inventory have grown infinitely more complex. Aggregating this data manually, forecasting and planning via spreadsheets, and ordering based on experience and intuition simply do not cut it anymore. By using our customer-centric business intelligence, we are able to leverage our inventory data to ensure that we meet the needs of our partners and their customers. This allows them to confidently place orders and build smart inventory plans.
When we know, for example, that a certain item is on a waiting list and has not been available for some time, we are able to recommend alternatives that we already have in stock so that the end-user’s needs can be met.
How forecasting improves decision-making
Forecasting is a game-changer for our business. It assesses the number of sales and timing of sales which helps us schedule all aspects of your supply chain, including warehousing, and shipping. We can predict drastic increases in demand, at the beginning of the school year for example, and plan accordingly to ensure we have enough of the correct stock available to meet the needs of schools, teachers and learners. We simply use previous sales data and trends to determine how much inventory to order for a certain time period from our vendors.
Our product managers always have real-time data and recommendations to hand. This means they have actionable intelligence to make decisions that can drive business growth and provide prescriptive recommendations for the most important inventory decisions you need to make today.
Balancing supply and demand
Keeping up with the demand for a product is critical because failing to do so can result in lost revenue for the product or worse, lost customers. One of our main goals is to have just the right amount of inventory to meet customer demand without incurring shortages or wasting money on ordering and storing surplus inventory.
By taking into account different trends, cycles and fluctuations in our data to make predictions about future product demands, this powerful data-driven approach turns our demand planning into a process that can boost our partners’ long-term profitability.