Cost Effective Control While Meeting Demand Is The Goal And The Result
Talent And Technology
It would be easy to always meet inventory demand if you had an unlimited budget. But you live in the real world.
So the next best thing is to manage your inventory levels within your budget. To do that takes talent, and it takes technology. Which is where EmpowerIV comes in.
Starting by asking the question, "What does the inventory manager need to know?" EmpowerIV was designed around the concept that all activities in the distribution of your products must flow through inventory. So EmpowerIV was built to provide timely, accurate information about on-hand balances, sales demands, and purchase supplies.
Buying And Selling
Control begins with consistent rules and EmpowerIV begins with an extensive Item Catalog, which enables you to document all of the parameters used in selling, purchasing, and warehousing the items you inventory.
For items that you sell, the Item Catalog supports an infinite number of pricing structures, including volume discounts, customer specific pricing, industry pricing, and special offers.
For the items you purchase, EmpowerIV handles a wide range of problems that occur when using multiple vendors for procurement, including different units of measure, accounting for different lead times, quantity and price tolerances, and special terms and freight requirements.
Timing Is Everything
The heart of EmpowerIV is in controlling the timing of the receipts and issues of your items in order to minimize an out-of-stock condition.
Since EmpowerIV is constantly receiving demand and supply from EmpowerSO and EmpowerPO, it easily calculates when an out-of stock condition might occur based on quantities and expected receiving/shipping dates. If an out-of-stock condition is likely, EmpowerIV automatically creates a requisition to correct the problem and electronically routes the information to the Inventory Manager for action.
That kind of technology helps, then it’s up to you to supply the talent.