What is Inventory Management

Inventory Management matches supply to demand by dynamically allocating inventory to where it’s needed the most.

GT Nexus Inventory Management tracks inventory throughout the global supply chain and stores the data in a central, cloud-based network. Companies use it to gain an accurate view of available goods, then match them up with demand. With Inventory Management, decisions on allocation can be pushed to a later date, avoiding build-up of excess inventory in areas where it won’t sell. This greatly reduces the occurrence of excess inventory, higher handling costs, and expedited shipments.

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Components

  • Inventory receipts

    Agile method for managing inventory without the overhead of traditional WMS. Turn booking and shipments into inventory receipts, using visibility into on-hand inventory to fulfill demand allocations. Easily bring up a cross dock or transload facility, processing freight quickly and accurately.
  • Dynamic allocation

    A systematic way to allow customers to allocate inventory both at rest and in-transit to enable faster inventory flows. Keep inventory in motion and swiftly transform a bulk order to a distribution order.

A global inventory dashboard mitigates risk and delivers insight to align supply with demand.

Key Features

  • Flexible architecture that allows inbound and outbound electronic transactions, receipt creation and edits in batches, and highly customizable inventory reporting & scheduling
  • Demand allocation of inventory can be done based on the unique business rules of the organization, enabling you to tailor the logic to your industry and situation
  • Transloading operations supported with detailed item level visibility, providing greater flexibility for consolidated/deconsolidated transport

Key Benefits

  • Offers superior agility in inventory management with optimized cycle time
  • Lowers inventory costs and reduced buffer stock
  • Reduces operational costs
  • Reduces spend on expedited air freight
  • Reduces cost to serve customers with complete and on-time orders
  • Provides accurate & timely data that drives good decisions

How do you optimally get products to the right place at the right time, and achieve that mythical 'perfect order'? For that, the first thing you need to know, is where is the physical shipment right now.

Buck Chintamani, GT Nexus