Top Inventory Planner Alternatives

The inventory of the business ensures that it can run steadily without any interruptions at all times. While proper management of these inventories can lead to incredibly high profits, the converse can also lead to wastage of goods and sizable losses. Thus, good inventory planning practices becomes an essential part of a flourishing business. Inventory Planner is a platform that allows businesses to do just that through digitization of inventory records and processes, and by extensive automation.

Smarter ways to plan an inventory

The first and primary ability of Inventory Planner is to enable better planning practices. This is made possible through a powerful forecasting engine. This engine allows businesses to chalk out the most critical products of their inventory based on the revenues gained from them. Additionally, businesses can also see the sales level that is predicted for each of their products, which can give them a solid idea of whether or not to restock on that product anytime soon. The platform can even show suggestions on the ideal number of goods of a particular type that should be bought for restocking.

A faster way to restock

The next primary ability of the Inventory Planner is the ability to optimize and speed up the restocking and purchasing process. Inventory Planner uses a combination of automation and user intervention at the right times to enable this. Using the platform, businesses can get an overview of the lacking goods that are to be restocked, along with suggestions regarding the quantity that is to be purchased. Users may either customize this purchase order or can set it as final. After finalization, the purchase order is sent to the required vendors automatically.

Financial security, ensured

The last module of the Inventory Planner allows users to plan their whole business finances through the platform. The user can use the planner to see how much expenses are being spent in the year, and then match it with previous year statistics to gain an insight on better financial optimizations. It also allows them to see the lifetime of the goods in the warehouse so that they can determine whether restocking is even required or not.