Inventory Per SKU Management
Effective inventory management is crucial for businesses to meet customer demand while minimizing costs associated with overstocking and stockouts. The 'Inventory Per SKU' feature in Core dna is designed to give marketers and retailers comprehensive visibility and control over their product stock, crucial for running an efficient supply chain. By leveraging advanced tracking and predictive analytics, this feature ensures businesses maintain optimal stock levels.
How Inventory Per SKU Works with Core dna
Core dna's 'Inventory Per SKU' feature allows businesses to track inventory on a per-SKU basis, meaning each Stock Keeping Unit (SKU) can be monitored individually. This granular level tracking facilitates better forecasting, planning, and decision-making. Marketers can use this feature in tandem with Core dna’s robust analytics tools to predict demand, optimize order quantities, and identify trends in sales and inventory usage. The feature integrates seamlessly with other Core dna functionalities, such as order management, product lifecycle management, and supplier performance tracking, providing a cohesive ecosystem for inventory oversight.
Key Specifications
| Specification | Description |
|---|---|
| SKU Tracking | Monitor each SKU individually for precise inventory management. |
| Real-Time Updates | Automatic updates to inventory levels as sales happen. |
| Predictive Analytics | Foresee sales trends and optimize inventory accordingly. |
| Integration Capability | Seamless integration with other Core dna modules. |
| Automated Alerts | Receive notifications for low stock and reorder points. |
Practical Use Case
Consider a retailer, "Eco Fashion," which specializes in sustainable clothing. During their annual summer sale, product demand fluctuates significantly. By deploying Core dna's Inventory Per SKU feature, they track each product's stock levels in real-time. Automated alerts notify them when stock levels fall below a set threshold, preventing stockouts during peak sale periods. The predictive analytics component helps their supply chain team forecast which items are likely to see an increase in demand based on sales trends from previous years. This ensures Eco Fashion maintains sufficient stock, satisfying customer demand while minimizing excessive orders that could lead to high holding costs. Implementation involved integrating the feature into Eco Fashion’s existing Core dna system, syncing it with their order and product lifecycle management solutions for a streamlined operation.