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Sage X3 inventory management software fits perfectly well with your company's inventory requirements

Track and control your stock conveniently.

What is inventory management software?

Systematically evaluate your inventory setup.

Sage X3 is a leading inventory control software. It examines your warehouse workflow and layout, replenishment policies, and inventory setup to ensure that each job is streamlined and functioning optimally. You can track everything from a single dashboard and then act quickly from user-friendly menus.

Use powerful tools to track inventory.

Automate your entire inventory mechanism.

Automate each component of your supply chain management system, such as order fulfillment performance, inventory turns, replenishment levels, optimized bin locations, and picking efficiencies.

Implement a system of quality checks.

Get receipts of goods instantly.

An efficient system of checks and balances will ensure that you receive the best quality products within a set time. Implement easy-to-use visual process flows to check the arrival of goods across multiple warehouses and plan your next set of actions. Inventory management software automatically checks whether the stock is received and monitors each product’s exact locations in the warehouse. It also takes control of the approval and rejection of each product. If a product fails to comply with the set parameters, it will be rejected. In addition, the inventory management system also keeps information regarding each task, report, and inquiry in one place allowing business stakeholders to access critical information from anywhere and at any time.

Automate vendor selection process.

Evaluate the vendor quality based on factual data.

Evaluate the vendor, supplier, and distributor quality based on purchasing and accounting data, past performance, pricing, and material quality. The Sage X3 inventory management software module will automatically select the best vendor based on the list of parameters you upload. In addition, it will also allow you to quickly build complex queries across all vendors to identify changing trends and thus improve the profitability of the business.

Observe the changing market conditions.

Get a deeper understanding of your customer's preferences.

Finding the right inventory management software for your business can be challenging. But Sage X3 is the best inventory software. It contains various business intelligence tools that drill down sales order data to identify what customers are purchasing and where they are most likely to invest their resources. This feature allows organizations to generate ad hoc reports, analyze the details, and store them in the repository for future use. When you have a 360-degree view of your customers, you know how they think and act, allowing you to brainstorm effective strategies. As a result, you will see your profits increasing and also build better customer relationships.

Keep track of your margin.

Monitor your operational expenses carefully.

Get the complete picture of the expenses related to each product in the inventory. As a result, understand the cost of sales better and align your sales prices with the profitability targets through the inventory management system.

Monitor your sales channels

Make changes to your sales pipeline quickly.

Are you struggling to maintain a healthy sales pipeline? Do you have multiple sales channels but lack the required infrastructure to support them? If yes, then don’t worry. Sage X3 has the best inventory management software module that will look after all your needs. It has advanced CRM capabilities that identify potential disruption across your sales channels and sends you detailed reports that will allow you to react immediately. As a result, you will no longer have to worry about your market share.

Inventory management software has become the backbone of the supply chain network of companies across various industries. Manual tracking of goods is a time-taking job and introduces numerous human errors. On the other hand, automated software takes care of several things at once, such as tracking product levels, purchase and sales orders, shipping details, stocks, and barcode scanning.

Let’s look at some exciting inventory management software features that will provide you a detailed overview of how it can help you conduct business.

Barcode and tagging

Barcode systems record essential details like date of manufacturing, expiry date, price and weight of the product, manufacturer name, and much more. The best thing is that barcode machines are easy to learn and operate, significantly reducing human-induced errors. Traditional systems to record product information require rigorous employee training modules and introduce many errors in the sheet.

Reporting tools

Inventory management software provides real-time data about order status, product status, shipment, the driver’s whereabouts, and much more from multiple data sources. This feature helps to glean critical information that allows making efficient business decisions.

Embedded cybersecurity layers

Inventory management systems have embedded cybersecurity algorithms that ensure that your critical inventory data is always safe and is accessible to only authorized stakeholders, such as frontline executives, C-suite managers, vendors, suppliers, and distributors. In addition, the right inventory management system keeps multiple copies of your data so that if one of them is compromised, other copies can be restored instantly.

Inventory forecasting

Forecasting is an essential tool that allows businesses to maintain the right amount of inventory levels. Inventory management systems automatically order supplies as soon as the stock level falls below the set threshold. Thus, forecasting allows businesses to spend wisely and prepare better for customer demands by purchasing inventory intelligently.

Internet of Things (IoT) and cloud-based software

Two significant components of a sound inventory management system are the Internet of Things and cloud-based systems. Cloud-based systems allow stakeholders to upload and download data from anywhere and at any time. So, for example, the inventory manager doesn’t need to be on the shop floor every time to access crucial data. It’s because cloud applications allow accessing data from any IoT-enabled devices such as computers, laptops, smartphones, tablets, or any other device. In addition, cloud apps allow inventory management software to send real-time updates and alerts to concerned departments that help accelerate the efficiency of the whole business.

Sage X3 inventory management software will take care of all your inventory-related requirements.

Implement a warehouse management system built specifically for your needs.

Herman Hollerith developed the world’s first punch-card systems in 1890. It used holes in sheets of cardboard or paper to record data. Then in 1930, Harvard University launched an improved version of the punch card system that allowed processing and presenting information, including inventory data. Moving forward, in 1972, a Kroger store in Cincinnati performed a test run of a bull’s eye barcode system, but it failed to launch because of several barcode printing and scanning challenges. Later, a slew of technologies, including RFID (Radio Frequency Identification) tags and QR (Quick Response) codes transformed the inventory market. They instantly provided real-time location information and updated inventory databases.

Today, inventory management software systems are growing by leaps and bounds. Improvements in cloud-based technology have made them affordable for small and midsize businesses. Moreover, access to big data has allowed organizations to analyze substantial amounts of structured and unstructured data that helps get a 360-degree understanding of the market conditions and changing market preferences.

With the advent of industry 4.0 solutions, inventory management software will become smarter. As a result, intelligence-driven warehouse operations will act as competitive advantages that organizations will use to distinguish themselves from other market players. The following points tell how inventory management software is going to transform in the foreseeable future.

IoT (Internet of Things)

According to Forbes, IoT adoption in the retail industry will increase to 71% by 2021. IoT will play a massive role in tracking stockpiles and maintaining the correct amount of raw materials in the inventory. It will allow retail stores to implement tagged products and intelligent shelves to track sales in real-time. A combination of IoT-enabled inventory management software and AI-driven demand projections will also optimize lead times.

AI bots

AI bots are highly efficient in tracking the availability of crucial components in the inventory instantly. It gets even better when the whole organization has a highly-developed IoT infrastructure in place. The information can be relayed immediately from one node to another. AI bots can mine data at lightning speed when compared to their human counterparts. Moreover, they allow inventory management software to highlight potential supply shortfalls and predict which products have the highest selling potential.

What is inventory optimization?

Sage inventory advisor will optimize your inventory and allow you to make informed business decisions.

Let’s start by learning what inventory optimization means. It means to strike a perfect balance between having just the right amount of inventory you require to satisfy your customers’ needs and stocking as little inventory as possible in the warehouse to keep the inventory stocking and maintenance costs minimal. But inventory optimization gets challenging because there is a tug of war between supply and demand levels. 

Companies understand that their profits will take a massive hit if essential items aren’t available in the inventory. Inventory optimization allows companies to understand the underlying trends in the market and improve their bottom line. They are aware that their inventory uses much of their working capital, which is why they are always in search of new technologies and best practices to up their game. 

Here are some best business practices to optimize your inventory levels, improve inventory visibility, and improve asset management.

Alignment and accountability

Does your production department get incentives for minimizing downtime and running large batch sizes?  Do they prefer purchasing raw materials in bulk to get volume discounts?

If yes, then your stock levels may sometimes exceed the warehouse capacity. As a result, there is a high chance of items getting stolen or damaged. Therefore, you need robust inventory control for tackling excess inventory:

  • Let all departments understand each other’s objectives and their incentive structure. This step will help everyone to align to the same organizational goals and increase cooperation.
  • Internal teams and third parties, such as vendors, have to realign their schedules, responsibilities, and accountabilities to understand each other’s pain points.
  • It’s essential to use stock management software that determines how many inventory items you can keep at a time in the warehouse.

Benefits of Sage inventory advisor

There are numerous inventory management software systems in the market. Still, Sage inventory advisor stands out because of the following benefits:

  • It categorizes data based on value and velocity through 9 different color-coded classifications. 
  • It is linked with multiple warehouse management systems allowing it to collect critical business data from multiple locations. This helps to produce actionable intelligence that enables making intelligent business decisions. 
  • It uses powerful algorithms to analyze purchase, sales, and supply chain performance data. 
  • This business software allows small and growing businesses to maintain adequate stocks by replenishing inventory based on the inventory policy. 
  • This inventory management software dashboard tracks key KPIs geared towards minimizing inventory value while maximizing fill rate.

It provides early signals for surplus orders and potential stockouts.

Monitor the supplier delivery performance, including goods quality and late deliveries. It will allow you to have intelligent conversations with suppliers based on factual data.

Sage inventory advisor is a cloud-based application that can be accessed through any internet-connected device from anywhere and anytime.

Sage inventory advisor integrates Sage ERP quickly

Businesses find it challenging to integrate inventory software modules with their ERP system. They think that although the ROI is great, it takes a long time to justify it. Fortunately, Sage inventory advisor is a cloud subscription service that takes less than a day to integrate with Sage ERP system. In addition, Sage inventory advisor has intuitive graphic interfaces that are easy to understand for non-technical users. So get ready to benchmark your performance with predetermined goals and monitor your progress more efficiently.

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