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Inventory Management

Automating Inventory Management​

Automating inventory processes with PlatformNX helps organizations streamline workflows, enhance data accuracy, and gain real-time insights. Here’s how PlatformNX can benefit inventory management

  1. Accurate Stock Tracking
    • Automate updates for stock levels across multiple sales and warehouse systems.
    • Reduce discrepancies and manual errors with real-time data synchronisation.
  2. Improved Replenishment Process
    • Automate stock reorder workflows based on predefined thresholds.
    • Integrate with suppliers for efficient restocking and inventory planning.
  3. Enhanced Inventory Visibility
    • Access real-time insights into stock levels, turnover rates, and product demand.
    • Utilise reporting tools for better forecasting and strategic decision-making.

Common Inventory Challenges Addressed by PlatformNX​

1. Preventing Stockouts and Overstocks​

Managing optimal stock levels is critical for avoiding missed sales (due to stockouts) or excess inventory (leading to increased storage costs). PlatformNX automates inventory monitoring and sends alerts when stock falls below or exceeds predefined thresholds.

Solution with PlatformNX

  • Set up automated alerts for low stock or overstock situations.
  • Create workflows for automatic reorder requests based on stock levels.
  • Integrate with suppliers for seamless inventory replenishment.

2. Synchronising Inventory Data Across Multiple Channels​

Many businesses use multiple sales and warehouse systems, making it challenging to maintain consistent inventory data. PlatformNX facilitates real-time data synchronisation, ensuring accurate and up-to-date inventory records across all platforms.

Solution with PlatformNX

  • Automate data synchronisation across e-commerce, retail, and warehouse systems.
  • Standardise inventory updates to prevent discrepancies and overselling.
  • Enable a unified view of stock levels, improving inventory accuracy and visibility.

3. Automating Inventory Audits​

Manual inventory audits can be time-consuming and prone to errors, impacting the accuracy of stock records. PlatformNX automates the auditing process by reconciling inventory data from different sources and highlighting discrepancies for review.

Solution with PlatformNX

  • Create workflows to compare stock levels between sales systems and warehouse records.
  • Flag discrepancies for manual review by the inventory team.
  • Generate automated audit reports for accurate record-keeping and compliance.

4. Managing Supplier Integration and Stock Reordering​

Coordinating with suppliers for stock replenishment can be complex, especially when multiple suppliers are involved. PlatformNX simplifies this process by integrating with supplier systems and automating reorder requests based on stock thresholds.

Solution with PlatformNX

  • Integrate with supplier platforms to automate purchase orders and stock reorders.
  • Monitor lead times and adjust reorder points based on supplier performance data.
  • Automate notifications for pending or delayed orders, ensuring timely restocking.