Spring holidays are just around the corner, and we all know what that means:
Stores are first taken over by pink and red heart-shaped decorations and candy, before the bunnies, Peeps, and chocolate Easter eggs take over a couple months later.
And every year, the same thing happens—all that candy is massively marked down at the end of the month, simply to get rid of excess inventory. This cycle is repeated after nearly every major holiday, whether it’s Halloween, Christmas, Valentine’s Day, or Easter (anyone ever microwaved different-colored Peeps together to see the resulting blob?).
One can’t help but wonder how much the overstocks and markdowns actually cost businesses. For a big, national chain, for example, the above scenario is likely repeated in every store. But what if there were a solution available that would reduce the amount of overstock by providing more accurate forecasts and allowing adjustments on-the-fly, therefore reducing costs?
In the past, companies typically relied heavily on spreadsheets and historical data to create forecasts. But with Anaplan for Inventory Management, you can plan and manage inventory levels with detailed insights to respond to market changes or supply chain disruptions.
Why Anaplan for Inventory Management?
Anaplan enables businesses to easily maintain a profitable balance between speed, customer service levels, market share, and the cost of inventory across all channels, thus improving the accuracy and performance of your daily replenishment and inventory plans.
You can use Anaplan to reduce the amount of overstock, while still ensuring there’s enough to meet consumer demand so a stock-out doesn’t happen. Other benefits include:
- Maximizing the profitability and volume of key materials, components, and products across multiple stages in your supply chain
- Reducing stock-outs and excess exceptions through early warning and performance analysis
- Adapting inventory and stocking strategies on-the-fly to address changing market conditions, supply chain constraints, and customer segmentation
- Removing excess inventory and reduce costs while maintaining customer service levels throughout your supply network
Additionally, Anaplan incorporates scenario modeling, which enables users to make strategic and informed decisions that further enhance inventory control. Click here to visit the Anaplan App Hub and download Anaplan for Inventory Management.