Inventory Optimization

Is It Time to Embrace Inventory Management Technology?

Optimas | September 15, 2021

Inventory management is the foundation of every manufacturing supply chain. The moment your team loses sight and control of its parts, your supply chain’s budget, deadlines, and overall efficiency go off-kilter.

How can you — the manufacturer — prioritise these essential and equally valuable elements? A digitised inventory management process is a great place to start, which we hope to drive home in our latest whitepaper, “Inventory Management Digitisation Improves Supply Chain Usefulness.”

This whitepaper turns the spotlight on inventory management solutions. Broadly speaking, we’ll cover how technology aids manufacturers in building standardised oversight of their inventory and the supply chain as a whole.

What, specifically, can readers expect to learn? Here are a few highlights:

Inventory Management Benefits

We can all agree that inefficient inventory management isn’t ideal. The pandemic illuminated its significant impact on supply chains as well as how technology can help fix the situation. We’ll explore the top-down effects of inventory management on the overall supply chain and how technology can impact that efficiency and productivity.

VMI Bottom-Line Boost

An Industrial Machinery Digest study found that most companies devote 20% to 40% of their working capital to inventory. With such a sizable chunk of money invested in inventory management, keeping those costs within that range is critical to maintaining operating costs. We’ll discuss how technology helps find those budgetary breakdowns within your inventory management process and ask the essential questions: Where are those leaks? What impacts are they having? How can we fix them?

Inventory Management Barriers

Some manufacturers are clinging to their legacy inventory management processes. Familiarity breeds comfort, but remaining loyal to those routines might not be doing you any favours. We’ll talk about why some remain on the fence about inventory management technology, and we’ll identify the sources of those objections with reasons to get past them.

The Breaking Point

Ruminating over when to make the proper investment in digital inventory management solutions can only delay and jeopardise efficiency, budget, and everything else you’re trying to keep in check. We’ll help you figure out whether it’s the right time to make the leap.

Of course, we’ll also highlight the steps needed to integrate this technology into your inventory management process to bring about the desired outcome. Contact Optimas to maximise your efficiencies.