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Gofrugal - Channel Inventory
Gofrugal - Channel Inventory
[Gofrugal - Channel Inventory]
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Most companies have optimized their supply chain to lower the cost per unit value of goods carried, by optimizing the transportation and warehousing for timely order fulfillment . But, most of them are unable to optimize their Channel Inventory for the demand and service level goals. Demand planning based on sales history and Channel Inventory will give a definite competitive edge to companies and will help in lower inventory investments leading to lower working capital costs
Companies get the month end stock & sales and area wise sales report from their stockist to gain visibility into
How much did the company under achieve its sales target, due to lack of product availability at the right place and time ?
What products are selling & How much ?
Where are they selling and when ?
How much is the inventory carried by the stockist ?
Most organizations face two challenges in getting the above information that is vital to their supply chain and production planning and optimization. The first challenge is the time and effort spent on getting the information. While the sales person had to spend significant part of his quality time waiting at the stockist place, the stockist is burdened with servicing a large number of company representative waiting for the reports. Even after so much time and effort from the company representative and strain and cost to the stockist, companies at best get a snap shot view and not a continuous view.
The second challenge is the time it takes to generate actionable MIS reports based on the information collected. Typically, the reports collected manually are sent through the sales organization to the head office and it takes weeks and some times months to get MIS reports generated based on this data.
The lack of timely availability of data coupled with the poor quality of data due to manual processes results in sub-optimal demand planning and excess Channel Inventory
Manufacturing / Marketing companies having distribution channel would like to have complete information on the inventory of each product at every stockist. They would like to use this information for marketing, sales and production planning purposes. This information will also help the companies do their demand planning to optimize Channel Inventory and lowering the working capital needs.
Each stockist is using different legacy IT solution to manage their businesses and the choice of such IT solutions are driven by local preferences and service available. It is not possible to replace those software applications by a uniform application. At the same time, it is important that the manufacturing / marketing company gets good visibility on the Channel Inventory so that they can plan their distribution, marketing, sales, finance and production effectively and efficiently.
GoFrugal Channel Inventory service delivers on the inventory visibility required for demand planning, with minimal needs from the stockist. The information required for the Channel Inventory service can be updated in 3 ways
Importing the closing stock / stock and sales statement received. Stockist can send the report to a defined email address or upload them to a FTP site or upload them in the portal. One time configuration to map the report format in the Channel Inventory portal
Automatically send the report to the Channel Inventory service using the NetTrade messaging solution installed at the stockist
Manual data entry of closing stock details
Access to entire community : From production, distribution, product manager to sales representative and stockist. Help establish one version of truth across the entire organization and channel community and facilitates healthy discussions, well informed analysis and faster decision making
Real time information on what is selling, where and whom including the Channel Inventory. Help implement demand planning leading to savings in Channel Inventory and non-moving inventory. Improves the ROCE leading to productive deployment of capital
Higher productivity from field sales staff as they know whether they should focus on increasing consumer demand for the product or on the primary / secondary sale to make the product available in the channel. Such strategy can be fine tuned for each SKU
Stock movement from low demand to high demand locations result in better utilization of inventory. Reduces the non-moving, expiry and resulting wastage leading to lower wastage
Service level / order fill rate is increased and predictable lead time established in the channel resulting in less dumping / over supply leading to lower reverse logistics costs
Stockist Registration : Each stockist is given a login / password in to the portal
Closing stock entry : For each product, stockist can enter the batch wise / MRP wise closing stock entry
In addition to closing stock entry, stockist can also enter the consolidated stock inward, outward and adjustments, if required
Based on closing stock details, stockists can view their daily, weekly, monthly inventory for product, category etc.
If the stockists provide the inward, outward and adjustment details reports on net sales, net purchases etc. can be shown for a given period
Company staff registration : Company staff like distribution manager, field sales representative, area sales manager, regional sales manager, national sales manager and management staff can be given access to the portal. User / role based access control is possible where each user is shown reports only based on need basis
The company staff report access can be controlled based on area, product category, stockist category, stockist etc.
The reports can be shown stockist wise (OR) consolidated based on area, stockist category etc.
Stockist can send the closing stock report and/or stock and sales report as csv file from their existing software as an email attachment.
The csv file can be uploaded into the portal and every user of the portal can be shown reports based on their entitlement.
Special onetime configuration for each stockist on master data management, area mapping, data format mapping etc. required to facilitate automatic uploading of data into the portal
The stockist can use the portal itself to invoice the customers
All business management functionality required for invoicing and other business management such as credit and outstanding management, promotions and offer management, accounts etc. can be given in the advanced feature
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