Balancing inventory volumes and values to ensure high levels of customer service are maintained (no stock-outs) whilst ensuring you don’t hold too much stock – using up cash flow and potentially leading to obsolete stock on your shelves. There are several moving parts to inventory accuracy – forecasts from sales, demand (sales orders), current inventory (accuracy), multiple warehouse locations, consignment stock, EOQ’s, minimum order quantities and long lead times as goods are shipped from overseas into Australia.

Yes, MYOB Advanced offers great functionality for wholesale/distribution – management of multiple warehouses, bin locations, serial number and batch (lot) management, cycle counting, purchase planning and great inventory reporting. But, imagine taking your inventory planning to the next level with a fully integrated, dedicated, cloud-based inventory planning solution.

Netstock takes inventory planning, purchasing and reporting to the next level by working on optimizing inventory levels based on algorithms to manage on time in full delivery based on previous and forecast sales volumes and item classifications (focus on items that contribute most to the bottom line). The system producers KPI dashboards for purchase planning teams to quickly alert the sales team to any potential stock-outs and other related inventory challenges.