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“They’ve got supply chain grease on their hands,” reported Bemis Associates’ Mike Mather, referring to the fact that our combined experience working in the inventory management trenches exceeds 75 years. Along the way, we’ve picked up a thing or 10 that make solid sense. Read on.

1. Use inventory strategy and service-level optimization tools.
2. Use technology that is capable of setting complex optimal service policies at the item-location level.
3. Tracking variability and uncertainty in your supply chain and understanding its impact.
4. Understanding your customers’ ordering patterns, seasonality, growth and other characteristics.
5. Close integration with key customers to reduce variability (e.g., share plans, smooth price-driven peaking, improve transportation links).
6. Measure customer order variability.
7. Improve inventory, consumption and forecast visibility with suppliers.
8. Use technology that is capable of collecting, evaluating and monitoring lead-time variability and other data needed for inventory strategy analysis.
9. Establish clear accountability for inventory and driver’s performance.
10. Establish clear and specific targets for inventory by component.

The Aberdeen Report states, “The truly visionary companies are leveraging their inventory as a competitive weapon and using it to hedge the demand. They use inventory to optimally position supply when and where it is most needed and most profitable. By performing segmentation of their customer channels and products, these companies are able to attain significantly higher return on assets than their competitors.”

Carrying extra inventory, especially for extended periods of time, can quickly eat away at margins. So we’ve designed a tool to help you assess your needs and see how your inventory management strategies measure up against the industry’s Best in Class.

Take our Survey and find out how fit you are!

Small and midsized companies often need the robust functionality of big-business inventory management solutions-but packaged to match their smaller size and budget. RockySoft’s functionality and pricing structure lets you purchase individual modules and add features as your company grows or your business needs change.

RockySoft offers three levels of functionality to meet the specific needs of companies of all sizes: RockySoft Lite, RockySoft Standard and RockySoft Pro.

And it’s easy to find out which level is right for you: Simply answer 15 questions to find out which level will best fit your needs.