NetStock, a leading vendor in inventory optimization and planning, has launched a new predictive inventory planning app. The new app replaces the existing inventory optimisation application, with existing customers soon migrating to the new platform.
The new re-designed application makes it easier for executives, demand and supply planners, and order fulfilment teams to better understand their current, future and hypothetical inventory levels. The app enables users a new level of sophistication for their inventory planning with tight integration to various ERP systems and the ability to add what-if scenarios to optimise inventory and capital investment.
Ara Ohanian, Netstock CEO, commented: “With supply and demand being more volatile than ever, businesses need to be able to confidently predict and synchronize what their customers want with what their suppliers can deliver. The new Netstock app gives fast-growing challengers the smart inventory optimization tools to close the tech gap, level the playing field and compete with the giants.”
Netstock integrates with a wide selection of ERP solutions, enabling customers to take advantage of its inventory solutions rapidly. Integrations include NetSuite, Sage, SAP Business One, Acumatica, MYOB and Microsoft Dynamics 365.
A next-generation of inventory planning
The Netstock app enables customers to manage supplier risk better and orchestrate inventory planning. It turns inventory data into actionable intelligence, provides actionable insights on fill rates, provides real-time insights into stocks out, both actual and potential and identifies excess stock or surplus orders so rectifying actions can be taken.
The new app has a re-designed inventory command centre. This provides dashboards from which users can view KPIs and recommendations, such as the next best action. Users can also set up “what if” scenarios to further enhance planning and forecasting.
Barry Kukkuk, Co-Founder & President, USA, Netstock, commented: “The new app stems from years of customer feedback. We focused on making it easier for users to see the information and predictive insights to make confident decisions — in less time and with fewer clicks.”
Beyond the new dashboards, there are also improved ordering and supply management interfaces. These draw on real-time data from ERP solutions to enable users to view existing events and transactions such as deliveries and purchase orders and place new orders within the ERP solution from Netstock. The application also provides better supplier performance insights with metrics that include:
- past and current lead times
- overdue orders
- future order projections
What isn’t clear is whether NetStock has added sustainability features within the new application.
The new application is designed to work across different devices, enabling users to work where they want on any form factor, whether sitting at a desk, in the warehouse or on the road.
Ohanian added: “Inventory is where a business comes to life, and organizations are recognizing that smarter inventory management can be a powerful competitive advantage. The future-ready Netstock app helps fast-moving, fast-growing businesses make confident decisions at the speed of the market — so they can conquer complexity, out-plan unpredictability and catalyze their growth.”
Enterprise Times: What does this mean
In current times, where supply chain disruption continues, inventory management is critical for many organisations. With this new application, NetStock has re-imagined its solution to meet the current requirements of inventory planners. With a better user interface and more sophisticated forecasting and planning capabilities, planners can optimise inventory levels and improve their business’s cash flow and profitability.