Inventory Management and Demand Planning
LS Nav’s demand planning and replenishment capabilities help achieve optimum stock levels and ensure your business has the cash flow and resources to expand without risking profitability. Choose to use automatic replenishment including forecasting capabilities or manual replenishment functionality with allocation planning, or a combination of the two, to effectively streamline your inventory, decrease costs, and increase profits.
LS Nav’s automatic replenishment function is a powerful tool to help you perform multiple replenishment tasks. The system provides various forecasting approaches to capture a full range of sales patterns including holidays, annual events, seasonality, as well as different distribution group patterns such as size and color combinations. The automatic replenishment function can then calculate the quantities of replenishment for each store/warehouse respectively and safety stock levels to prevent stock-outs. For example, after understanding the pattern quantities for each distribution group, the defined allocation method can then automatically handle procuring, transferring, and sales orders. The strong automatic replenishment capabilities enable you to decrease carrying cost of inventory and achieve an optimal inventory level by simplifying demand planning and stock distribution.
The system also allows you to perform manual replenishment so you can offer specific items to stores or franchise partners. LS Nav’s manual replenishment and allocation planning capabilities enable you to plan and distribute your items easy and fast. The system can effectively support you in planning the procurement process, preparing a season, as well as distributing and allocating retail items to stores and customers. Other than the defined allocation method mentioned in automatic replenishment process, the manual replenishment feature utilizes another allocation method, the distribute allocation method. By first determining the total stock quantity, the distribute allocation method will then calculate the quantity of items down to each store and warehouse.
In addition, LS Nav’s open-to-buy capability grants you full control over inventory availability in each store and capital investment in products during any given sales cycle. The open-to-buy functionally works with the LS Nav allocation plan to help you understand the difference between your inventory demand and stock levels.
Thanks to LS Nav’s fully integrated functionality, you have live access to inventory management on your POS. You can also perform all inventory management and demand planning on your mobile devices thanks to LS Nav’s wireless inventory feature.
Make your inventory work smarter, not harder. Contact us to get started with better inventory management for your retail business.
- Identify shopping trends in real-time. Provide customers with the products they want, when they want them, to increase sales.
- Target customers with a personalized buying experience with promotions tailored to their buying habits.
- Improve sales and improve customer retention with powerful, flexible customer loyalty programs.
- Use mobile loyalty apps to target customers with tailored offers and notifications.
- Make information on items, store locations, shopping lists and previous transactions easy to find with mobile apps.
- Implement an omnichannel approach to maximize sales online and offline.
- Control how much capital is invested in stock with the Open-to-Buy module, so you can achieve optimum inventory levels and avoid overstocking or losing sales due to stock-outs.
- React quickly to changes in market conditions with the ability to roll out price changes across the globe, through all channels, in a matter of minutes.
- Free up considerable working capital
- Lower inventory levels
- Reduce workload through automation by as much as 80%
- Reduce stock-outs by as much as 85%
Control item replenishment based on customer buyng behavior, including:
- Average usage – from sales history, seasonal trends, etc.
- Planned sales demand – manually for promotion peaks, onetime events, etc.
- Stock level – minimum or maximum threshold settings
- Like for Like – sell one, replace one
- Track inventory levels and shrinkage more accruately in real-time