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To ensure that you have the right amount of inventory in your distribution centres at the right time, you need to keep track of your suppliers, as their delivery times and prices will influence your margins. IFS Applications helps you monitor and manage your suppliers, keeping track of supplier scheduling, price agreements and invoices (with self-billing functionality), and monitoring delivery to ensure your delivery is in route and that you have received the right amount. To get a realistic cost of your procurement, you can value your stock against the landed cost to include transportation fees, customs, duties, taxes, insurance, currency conversion, crating, handling and payment fees.
How do you acquire and maintain a proper merchandise assortment while ordering, shipping, handling, and keeping related costs in check? The IFS Warehouse Data Collection solution provides a complete overview of all transactions in your warehouses and stores. By automating your inventory management, it will help you to determine optimal stock levels in your distribution system by identifying inventory requirements, setting targets, providing replenishment techniques, reporting actual and projected inventory status and handling all functions related to the monitoring and management of material.
Complete warehouse visibility helps boost your store operations, providing insight into each of your stores’ stock levels – not only a store’s own stock levels, but also the stock of other stores. This enables staff to reserve items for customers, in their stores or in other vicinities, or even have items sent to a customer’s home. Ample track and trace functionality lets you monitor your stock in transit, thus giving you time to react if disruptions occur along the way.
Manufacturers need to invest in the digital technology and transformation, which will secure long-term customer loyalty.
Read more about IFS Warehouse Data Collection in this executive summary.