Friday, March 27, 2020
How do you ensure you can fulfill customer orders and maintain service standards during unforeseen and unprecedented events like COVID-19? By leveraging a flexible inventory management system that operates on a cloud-based software so you can respond quickly to customer and business needs.
What can a dynamic inventory system do?
Offer real-time visibility
A system that operates on a cloud-based inventory management software offers real-time visibility into your current stock levels so you have true inventory control. When inventory counts and movements are tracked through emails and spreadsheets, it’s easy to lose sense of which SKUs are where. But with a cloud-based software that integrates with your ERP, TMS and WMS, you know where inventory levels are low and where you need to send more -- critical information when you need to avoid stockouts.
Get products to your customer, faster
Using a flexible warehousing network in addition to or instead of your own internal network of facilities gives you the ability to send inventory where you need it most, fast. Leveraging a network of forward stocking locations to hold the physical inventory your geographically-close customers are buying means you can fulfill orders faster, and run less risk of stocking out because stores need to reorder from a distribution center in another region.
Save on storage costs
Customer demand changes dramatically during events like COVID-19 from what was originally forecasted. But if you’re using a flexible network, you have the option to move inventory from one location to another as needed, without paying for capacity you don’t need. And you don’t have to wait months to source and launch this new location -- flexible networks allow you to set up new facilities within 48 hours.
Every day of the COVID-19 pandemic creates new supply chain challenges. We’re here to help you navigate those challenges now, and help you implement a dynamic and flexible inventory management system in the future. Talk to a supply chain expert about how we can help: https://go.stord.com/dynamic-warehouse-capacity