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Slimstock Inventory Optimization for NetSuite

Status: Unverified

Supercharge your NetSuite’s planning abilities with Slimstock’s world-class inventory optimization solution Slim4, backed with AI, machine learning, and best-case algorithms. Achieve optimal service level, maximize customer satisfaction, and increase profitability with robust forecasting, demand planning, supply chain planning, S&OP (Sales & Operations Planning), and inventory optimization.

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Description

Effective Inventory Optimization

Slimstock for NetSuite helps you maximize your NetSuite investments and achieve operational excellence. Slim4 uses the daily operational data that is generated every day in NetSuite to extend its capabilities and achieve a greater level of inventory balance and optimization. It backs up your NetSuite with efficient forecasting, S&OP planning, and inventory control solutions that start building your revenue from day one.

Sales & Operations Planning

The Slim4 S&OP platform allows you to utilize data insights to correct discrepancies and highlight new opportunities for improvement. It helps in identifying gaps in performance and taking proactive steps to solve issues to ensure your supply chain is fully aligned with your sales forecast. It also provides you with greater insight into your entire supply chain, helping you identify potential risks and opportunities sooner.

Key Benefits

Powered by AI, Slim4 offers an integrated solution to revolutionize your approach to S&OE, S&OP, and IBP. It backs up your NetSuite with efficient forecasting, demand planning, and inventory control solutions that start building your revenue from day one. Developed through real-world applications, it gathers data from historical sales, scans through your supply chain inventory, and generates a demand profile using ABC classification. Slimstock’s S&OP functionality eliminates the gap between supply chain planning and execution. Seamlessly align capacity constraints, resources, and inventory with your sales budget to streamline your processes and boost efficiency.

Accurate Forecasting and Demand Planning

Forecasts and demand planning underpin supply chain decision-making, which makes it vital for them to be as accurate as possible. However, most businesses lack the required insights needed for the same. Slim4 has been specifically designed to help you gain invaluable insights into your data and build a solid action plan based on those insights. Slim4’s advanced and comprehensive forecasting combines long, medium- and short-term analyses based on seasonal and behavioural patterns, seamlessly into your daily operations.

Slim4’s Business Intelligence (BI) data warehouse provides insights into the organisation’s quality of processes, empowering NetSuite with better management capabilities.

FEATURES

Demand Profiling

Slimstock’s S&OP platform provides a comprehensive overview of your supply chain, allowing your team to make informed decisions based on accurate data and insights. It helps Attain real-time visibility into demand and supply as you reduce inefficiencies throughout your supply chain to achieve fast, sustained, and profitable growth. To stay ahead of the competition, Slim4 anticipate and prepares for change by:

  • Identifying emerging trends to increase forecast accuracy and achieve greater alignment between sales and supply.
  • Exploring multiple scenarios to investigate the impact of risks and opportunities
    Aligning product decisions with your business goals to maximize profitability

Statistical Forecasting

By analyzing demand patterns at all levels and considering a range of demand metrics, Slim4 enables businesses to create objective profiles which ensure only the most appropriate forecasting algorithm. To achieve the best possible forecast, demand profiling within Slim4 is underpinned by:

  • Analysis of demand at an SKU, product group, location, or channel level
  • Analysis of total sales volumes, frequency of sales, sales quantities, and individual transactions.

Dynamic Calculated Safety Stock

To provide the desired service level for unexpected demand, the correct buffer or safety stock must be calculated for every product. Slim4’s powerful capabilities enable NetSuite to continually optimize the inventory by:

  • Differentiating service level and safety stock, taking into account delivery times, optimal order quantities, and ordering times
  • Distinguishing between presentation stock and all other types of inventory
  • Using a unique approach for unique items like perishable products that have an expiration date.
  • Automatically optimizing purchase orders for thousands of SKUs across all stocking locations
  • Optimized replenishment based upon dynamic MIN / MAX rules wherever needed.
  • Responding to developments in local demand both at the item and location level
  • Optimized phase-in and phase-out of items based on product life cycle management.

Product Life-Cycle Management

Given that no two product life cycles are ever the same, it’s vital that inventory levels are managed carefully to maximize availability during the introduction, growth, and mature phases as well as to minimize obsolescence at the end of the life cycle. Slim4 helps businesses stay ahead of product life cycles as it:

  • Automatically adopts the inventory strategy to fully optimize the entire product lifecycle
  • Apply business rules to adopt either a defensive or aggressive approach during the launch phase
  • Remains responsive and generates forecast after initial sales of new items
  • Optimizes margins and inventory costs for mature items
  • Notify planners when sales start to fall at the end of the product lifecycle.
  • Provides insight into different phase-out scenarios that help decrease inventory levels accordingly.

What-if Simulation and Scenario Planning

Deciding how best to meet the needs of your customers is something that requires considerable thought. Given that there are a range of influences, both internal and external, that can change in the business environment, it is important that the impact of these factors on the future stock position is fully understood:

  • Explore the impact of changes in service level, order quantity, and replenishment cycles
  • Analyze the impact of pursuing an inventory-level target