How do you know what you need to know before you know you need it?
We are not exactly sure how to the answer this question, but one thing we do know is that predictive analytics based on real-time data can help.
Ineffective inventory tools can lead to outages, rush shipments, disruption, and productivity losses. Fortunately, today’s technology advancements using real time data and predictive analytics helps in ever improving ways.
By utilizing predictive analytics as part of the inventory management process to forecast appropriate stock levels, you can more accurately detect your inventory needs, thereby reducing unnecessary inventory and operating more efficiently during hectic periods. Predictive analytics evaluates demand and improves planning, giving manufacturers more peace of mind and confidence the products they require to run their operations will be there when they need them. It also can cut down the likelihood of having too many items on hand which can impact space utilization and increase working capital investments.
All Printing Resources’ (APR) SupplySentry uses predictive analytics that can dynamically reset min/max/reorder points to assist us in managing the supply chain for our customers allowing us to optimize the amount of inventory kept on the floor as well as reduce freight costs.
SupplySentry continually monitors the stock in inventory for such products as stickybacks, tapes, doctor blades, safety supplies, photopolymer and much more, so it always knows just what you have on hand. The system automatically re-stocks the supplies that you absolutely need to get your job done without you having to spend as much time to do so.
For more information, please see the infographic on our website to see how many customers have described to us how SupplySentry has made their life easier: Here.
Or, the best way to see if SupplySentry might be a fit for you is to schedule a demo and see if real time inventory combined with predictive analytics can give you more peace of mind.