4 Ways Analytics can Augment Your Inventory Planning

Whether you're in retail, manufacturing, healthcare, banking, or another sector, driving efficiencies with inventory planning is a key strategy for cutting supply chain costs.

Inventory Management

Although many organizations use inventory management software to optimize their inventories, most inventory software is no match for the diversity of data and unique business conditions your organization deals with every day.

Running an efficient inventory system is no longer just looking inside your supply chain to draw out cost savings; to modernize your perspective, you must account for multiple internal and external factors that can impact your inventory.

Information such as customer demand forecast, warehouse locations with driving distances, collaborative shipping costs, seasonal influence, and even customer sentiment must be taken into consideration to effectively optimize your inventory.

Data Analytics

Alteryx empowers analysts, managers, directors, and all users of supply chain data to move beyond data formatting and into critical data analysis. When doing supply chain planning, harnessing the power of data analytics can give you results you need to meet your strategic goals.

Download the resource to view the four factors you should consider when looking to gain meaningful insights from your inventory data.