The Secrets of Efficient Inventory Management: LS Central Replenishment

The Secrets of Efficient Inventory Management: LS Central Replenishment

ERP systems are a game-changer in inventory and supply chain management. When you lack an effective ERP system, the replenishment process turns into a challenge for your employees while the risk of losing your customers becomes higher. 
 

What is replenishment? 

Replenishment is the process of restocking inventory for future demand. Replenishment ensures that customers will get what they need because the necessary items will be calculated and restocked in time. Effective replenishment is essential for preventing both understock and overstock scenarios, which may harm your chances to meet customer needs, retain their loyalty, and maintain financial stability. 
 

Replenishment in your ERP system 

Replenishment is a fundamental aspect of any ERP system that aims to optimize business management and operations. 

Business owners cannot afford to face stock challenges, especially during periods of high demand. Thus, the choice of ERP system should also offer an effective replenishment functionality that will keep the inventory under control. On the basis of historical data, seasonality and customer trends, your ERP system can generate proposals for replenishment that will simplify the most demanding and error-prone task. But how? 

The Replenishment module of LS Central offers exactly this: a chance to avoid making financially risky decisions. LS Replenishment offers real-time inventory visibility across all locations and warehouses. This transparency ensures that the stock levels are always optimized and that you will not waste your resources. 
 

How does LS Replenishment successfully reduce overstock and understock? 

 

  • Real-time insights 

No important information will be left unnoticed. LS Replenishment offers real-time visibility over stock availability, customer preferences, seasonal demands and all the crucial data you need to manage your stock effectively. Taking this information into account, you will be able to make much more accurate and profitable decisions about the products for restock. 
 

  • Time-saving automation 

Manual work is no longer a driver of productivity. 

Based on essential data and patterns, the system automatically calculates the necessary quantity for replenishment. The automation of such process enhances the accuracy and reduces the risks of mistakes that may lead to under- or overstocking. Moreover, the time saved by your team will be utilized for other tasks that often get postponed. But never forget – you are always in control and can make manual adjustments for certain items when necessary. 
 

  • Connecting the online and physical stores 

LS Replenishment connects your online and physical stores as it guarantees visibility across all channels. Your customers can see if the item is out of stock and consequently, order a different product instead (as another benefit, the system allows you to suggest similar products as a substitute!) Furthermore, they can also see the availability of each item in a certain location. Take as an example our customer Comsed who have adopted the modern approach of doing business. 

Comsed place their customers’ satisfaction and convenience as a priority. They display the availability of their items on their online store so that customers can also view the exact location where their desired item is available. Consequently, thanks to the integration between the ERP system and their eCommerce platform, all changes in the stock – sales, returns, restocking - are reflected in the online store which ensures that the information is up to date. These are just a few of the benefits presented by a retail system that contains everything you need to manage your business effectively – replenishment, eCommerce, sales, inventory, etc. 
 

  • Separate data-driven decisions for each location 

LS Replenishment allows you to make separate decisions for each location, depending on different factors – demand, customer preferences, promotional campaigns, local events, and more.  

Demand can differ across locations, but LS Central allows you to make the right decisions about how to distribute the stock and manage your replenishment. Taking into consideration the differences in customer preferences, local trends, promotional campaigns, you can make data-driven decisions to guarantee that the availability of items will comply with customer demand. Think about how dissatisfied your clients will be if they come across empty shelves at your store or see that their favourite items are once again out of stock. 
 

LS Replenishment is surely not only a time-saver, but also a key advantage in remaining competitive on the market. With Dynamics 365 LS Central as your ERP system, you have the whole array of functionalities that you need for your successful business management. Discover how to make informed, strategic decisions for your business's replenishment process: contact us for more information. 
 

Source: 4 secrets to successful grocery replenishment: a must-read for retailers

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