Ducks Web Add-Ons can help you fine tune your procurement, inventory, debtor and manufacturing management requirements.
Purchasing Optimisation and Procurement (Ducks Web POP)
- Too much Inventory?
- Still have Backorders?
- Products sitting on shelves?
- Need to improve your Cash Flow?
There are some simple causes of a businesses investment in inventory increasing year on year and if you have thousands of products rather than a couple of hundred it’s hard to manage – it takes too long to calculate the demand for each Products and so MIN / MAX’s are outdated. Unusual sales spikes and long delivery lead times can mean you are ordering too many, too few, too early or too late!
Inventory optimisation programs tend to be either too simple i.e set a MIN / MAX or require a pilots licence to use.
To address this need, we created our own solution Ducks Web POP to help you improve your cash flow, customer satisfaction and retention by eradicating Backorders. It is easily loaded on your EXO database in less than an hour, training takes the same amount of time. We’ll even install for a free evaluation.
Click to read how Ducks Web POP can help you make smart purchasing decisions?
Ducks Web POP contains clever algorithms that calculate demand for each Product called Average Daily Sales using Working Days and then we throw in:
- Actual Lead Time Days based on prior shipments so you know that your ‘Safety Stock Days’ is accurate
- Minimum Order Quantity (MOQ)
- Economic Order Quantity (EOQ)
- Minimum Order Value (MOV)
- Order Value for Free Freight
So now that you are working with highly accurate information, there are five simple steps.
- Run X2 Reorder Point Calculator to update MIN / MAX based on
– Actual Sales History (Current or Prior Year for seasonal businesses)
– Actual Lead Times
– Safety Stock Days (Days Covered) - Run Purchase Order Alerts Reports for recommended purchasing / replenishment
- Decide what to order and from which supplier using the X2 Inventory Level Projection Enquiry
- Raise Purchase Orders using EXO Forecast Based Purchase Orders (so you don’t have to key in the Products and quantities)
- Clear slow moving and unwanted Products using the X2 Inventory Clearance Report
If you really want to impress your accountant or bank manager, share the Inventory Optimisation Investment Report that calculates the optimum investment for every product you offer and total investment required. Most clients discover that this is actually about 20% less than their current inventory valuation
