ABM Inventory can be easily integrated with all accounting systems. The system can transfer data using both the API methods and ftp-server file exchange.
ABM Inventory can generate useful reports so that you can have your analytics at hand. The system can create the following reports:
The reports function is available for all our clients. In case you need to create a new custom report, your account manager will transfer your request to the relevant team who will consider the possibility of its implementing.
If ABM Inventory system is not available, or you have any questions or issues related to system functioning, please contact our technical support team via web-based service support.abmcloud.com, built-in chat widget or via e-mail [email protected].
The inquiries and feedbacks will be considered according to the technical support team schedule. If your question is received in irregular hours, and technical support team is not available, please contact your ABM account manager directly.
The system helps to find and identify the dead stock - such goods are marked with NON label, as they generate only 2% of the turnover rate. This indicator is being recalculated automatically on a monthly basis. This data can be actualized on demand any time.
We also have a reports function, that helps to quickly identify:
The systems helps to identify these inventory categories, better understand the reasons they appear, and take the most well-grounded and balanced decisions on dead stock management.
There is a special system mechanism for perishable goods, called FRESH. This algorithm is based on mathematical statistics principles and takes into account the standard variation (from the average sales level), customer service performance (in other words, the likelihood the consumer finds the needed product on the shelves), weekday coefficient (demand can vary depending on the weekday; this coefficient is being calculated automatically), as well as product expiration date.
The goods which are being managed using FRESH algorithm, need accurate data on average daily sales and current level of write-offs (by the customer). The day the order is made, the system calculates the necessary quantity needed to satisfy demand in the period between the deliveries, taking into account the residual expiration term and the demand variability (which may change according to the day of the week).
ABM Inventory can make orders according to both scenarios: either direct deliveries, or the distribution centre (DC) deliveries (distribution centre = central warehouse). If the supply chain looks the following way: External supplier - Distribution Centre - Stores, it is the DC that will act as a supplier for the Stores (therefore it is important to save the synchronization between the Stores and the DC).
For the DC inventory, it is the External Supplier who acts as a main supplier. So, the orders from the stores are being formed at the DC (using DBM, CDA or FRESH algorithms, which consider the current demand for SKUs).
For the inventory at the DC order mechanism differs - here we use DFO. DFO algorithm means that the orders to the external supplier from the DC will be formed according to the current demand level across the stores and considering the current levels of stock across the stores.
The calculation has several stages:
To make accurate and real-time calculations the ABM Inventory shall be synchronized with your accounting system and exchange the following data on a daily basis:
You have to adjust the necessary settings in advance so that the system can make all necessary changes before the promotion starts. If you create a promotion and adjust all settings in advance, the systems will calculate the necessary inventory levels and you will be prepared for the promotion.
The system has several options that can be used to change current inventory levels. They can be changed according to the coefficient of current sales, or average sales, or sales within a certain period. Another option is to set a special quantity value which will be kept during promotion period, or find the quantity value on the basis of similar past promotion sales.
As soon as the promotion is over, the system will return back to the normal pre-promotion inventory levels.
System algorithms have direct access to the recent data and can quickly react to the demand fluctuations monitoring product sales increase or decrease.
It is important to track the sales peaks that are not typical for this product, and to exclude them. ABM Inventory has a function that can react to this issue by setting a coefficient of a volume sale (wholesale) for this product. Using this setting we can have clear refined sales data, which is used for reordering.
ABM Inventory implementation provides the following benefits:
ABM Inventory has an automated order optimization which will prevent from ordering too much or ordering insufficient quantities. Order optimization function among other allows to set both minimal and maximum order threshold.
This function is very flexible and customizable, you can set your own limits for order cost, weight, or goods quantity. At the same time, you can adjust different options and conditions for a single supplier (for different order schedules and order distribution principles). There is also an option of order optimization towards higher or lower quantities, and an order restriction that can be activated if the order didn’t reach a particular cost/weight or volume.
If the system makes an insufficient order, and I will have to pay for this order delivery that is irrational and costly. How can the system solve this problem?
We have two options:
Fo example, we have a Supplier 1. We want to send this supplier only the orders exceeding $5000. In case the order reached the threshold of 60% (which equals 3000$), but still does not reach the $5000 sum, the system will automatically add the best-selling products to this order and increase it.
If the order is too large, and does not fit our budget/logistics restrictions: the system can optimize the orders using the maximum order sum/weight/quantity. If the order will exceed this maximum, the system will decrease order to the needed sum by decreasing the quantity of goods or by deleting the slower-selling inventory, so that the order fits the threshold and contains the top-sellers.
ABM Inventory has a built-in function that helps to identify and transfer surplus inventory between stores (or warehouses) which belong to one network. To make this transfer work you have to follow tho steps: