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Do you want to capture more sales, avoid disappointing customers with stock outs and prevent damage to your bottom line with costs to expedite, discounting inventory, and stock obsolescence?
Do you need to keep your inventory relevant as the market evolves around you?
How do you ensure your product portfolio is optimised?
We’ve partnered with SNO-Tek to bring you the Stringent solution – it analyses your collection of products, optimizes them into portfolios strategically crafted for you, and enables updates to your segmentation and inventory policies by SKU. It ensures your ERP system is up to date with the optimum policy and planning factors for daily make, buy, and stocking decisions. The Stringent approach connects daily actions to your competitive strategy.
Companies that have used this solution report increased % EBITDA over the year while sales grew (17%), inventory cost were reduced, and working capital was released ($1.2m).
Many studies show the significant impact that optimising inventory has on competitiveness and profitability.
Stringent takes care of the tedious and time-consuming process of categorizing products into optimum segmentation, the software analyses tens of thousands of SKUs based on verified data and insights, and shows the results for you graphically. Our report by SKU updates key factors in your ERP that drive daily inventory decisions.
Stringent achieves your goals to:
1. Map every item in your product portfolio based on competitive strategy and actual market signals, and ensure each one is kept relevant as the market moves
2. Stringent offers the quickest and most cost-effective way to update every SKU, and align daily supply chain decisions to your sales and marketing product strategies across the network.
Experience shows that products are not always set up to perform at their optimum, particularly as time moves on. People, processes, and systems get swamped. Sales opportunities get missed, unnecessary costs creep in, and $ invested in inventory is not optimised. Stringent addresses these issues.
It takes time, effort, diligence, persistence, and knowledge to analyse performance of all items in a portfolio, and then to keep the key factors up to date. We developed Stringent software to do the heavy lifting, and at low cost. Refreshing the reports is simple once things are set up.
The reports interface with any ERP system, using common formats. No complicated integration is required.
The objective is to optimise the portfolio of products, increase service levels across your network, capture more sales and avoid disappointing customers with stock outs, to reduce wasteful inventory costs, and to optimise your inventory investments.
Implementation follows an agile process, occurring in 6 iterative stages. After deliverables are agreed upon, cleansed sales data is run through Stringent and our first report is generated. After presenting this report, we make any necessary adjustments, then cleansed key supply data is run through Stringent and we generate our second report. After presenting this report, we make any necessary adjustments, and the project is reviewed and signed off.
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