In the current digital era, retail businesses are increasingly diversifying their sales channels to reach out to a …
Knowing your stock levels at any given point is essential for any business that deals with physical goods. However, not being able to track stock levels can be a significant challenge, leading to delays in delivering products to customers, lost sales, and ultimately, lower revenue. In this blog post, we will discuss the challenges that arise from not knowing your stock levels and how JEM solves this problem through its Order Satisfaction module.
One of the main challenges that arise from not knowing your stock levels is the inability to fulfill customer orders on time. Without accurate information on the availability of stock, businesses may promise delivery dates that cannot be met, leading to dissatisfied customers and lost business. This can also damage the reputation of the business, making it more difficult to attract new customers in the future.
In addition to not knowing your stock levels at any given point, not having visibility into future stock levels can also be a challenge for businesses. This can lead to missed sales opportunities and production delays, as businesses may not be able to plan effectively for future demand.
JEM’s Order Satisfaction module addresses this challenge by taking into account detailed purchase order information, forecasts, orders, and current stock levels to provide businesses with accurate predictions of future stock levels. This allows businesses to make informed decisions about production and ordering well in advance, ensuring that they have the right amount of stock to meet future demand.
The module can also factor in lead times for suppliers and manufacturers, allowing businesses to plan for potential delays and ensure that they can still meet SLAs. This level of visibility into future stock levels allows businesses to optimize their inventory management, reducing waste and increasing efficiency.
Another challenge that arises from not knowing your stock levels is the inability to plan effectively. Businesses need to know their stock levels to make informed decisions about production, ordering, and sales. Without accurate information, businesses may make decisions that result in either overstocking or understocking, both of which can be costly and damaging to the business.
JEM’s Order Satisfaction module solves this problem by taking detailed purchase order information, forecasts, orders, and current stock levels, the module can work out when you will be able to deliver stock on time. This provides instant decision-making capability, allowing businesses to make informed decisions about when to produce or order more stock while ensuring that service level agreements (SLAs) are met.
The module provides real-time visibility into stock levels, so businesses can track stock levels accurately and plan effectively. This means that businesses can avoid overstocking or understocking, reducing waste and saving money.
In conclusion, not knowing your stock levels can be a significant challenge for businesses, leading to delayed deliveries, lost sales, and damaged reputations. However, JEM’s Order Satisfaction module solves this problem by providing real-time visibility into stock levels both now and in the future, allowing businesses to make informed decisions about production, ordering, and sales. With JEM, businesses can improve their operational efficiency, reduce waste, and ultimately, increase revenue.