Radio Beacon adds demand forecasting to WMS
Warehouse management software provider Radio Beacon Inc. has released a demand management module for its Radio Beacon WMS system.
The forecasting module uses a company’s sales-order history to automatically identify optimal safety stock, reorder points and reorder quantities for every product in the warehouse. Integrated with the WMS, it can track inventory levels in real time and notify buyers to issue purchase orders so that stock arrives in time to meet demand. The system recalculates reorder triggers every time a product is received or shipped.
When integrated with Radio Beacon’s kitting module, customers receive forecast demand for product components.
“The mid-market needs this, probably more than the Tier 1 warehouses,” says Dale Jeffries, president of Radio Beacon. “They need better control over vendor compliance.”
The module is currently shipping, and is available as an add-on to the Radio Beacon WMS. Jeffries says the software can be used to facilitate internal collaborative forecasting, and can be used for some limited external collaboration.
Canadian electronics distributor Gentec International is Radio Beacon’s first North American customer for the module. So far, the company has reduced overhead costs, minimized stock outs and back orders, and increased productivity.
“The ability to monitor inventory levels of our top 100 products has been instrumental in minimizing stock outs and ensuring that we can deliver products to our customer when they need them.,” says Margaret Adat, executive vice president and chief financial officer at Gentec.
The demand module also includes a sales forecast toolkit to assist in tuning the output of the forecasting engines at various levels of aggregation, and an inventory budget tool to provide buyers with open-to-buy controls.
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