Blog: Revolutionizing Inventory Management for Businesses of All Sizes

inventory management optimize inventory

With GAINS, companies can navigate uncertainty and optimize stock for better inventory outcomes

In today’s hyperconnected and continually evolving business landscape, companies grapple with stock and labor shortages, supply chain constraints, and market volatility, demanding a more adaptive mindset. Traditional approaches to inventory management need to be revised. The “set it and forget it” philosophy is no longer effective in the face of constant change.

The GAINS Difference

Companies are turning to fluid inventory management policies and advanced optimization platforms like GAINS to manage inventory turnover successfully and overcome these challenges. GAINS is breaking down the barriers that once confined advanced inventory management software solutions to large enterprises. Companies gain access to continuous optimization through its cloud-based platform, empowering them to optimize stock levels, boost sales, enhance service levels, streamline operations, and unlock working capital.

What truly sets GAINS apart is its ability to facilitate robust scenario planning . With access to comprehensive data and powerful analytics, businesses can make informed inventory control decisions based on various potential outcomes. This level of foresight empowers them to effectively manage risks, adapt to disruptions, improve inventory turnover, and maintain a resilient supply chain.

“With GAINS, we’ve been able to maintain our excellent service to our customers while getting better at managing our working capital. We have outperformed our peers on that metric in many instances” – CEO of Steel & Pipe Supply.

Something for companies of every size

GAINS is a leading provider of demand, supply, and inventory optimization solutions, democratizing the power of inventory management previously available only to large enterprises. Our cloud-based platform enables companies of all sizes to optimize their goods sold continuously, resulting in increased sales, improved service levels, reduced operating costs, and freed-up working capital from stock.

With GAINS, organizations gain greater visibility into their finished goods and overall inventory planning processes, allowing for ongoing improvements. This level of control and adaptability is crucial in today’s business environment, characterized by high inflation, rising costs, and increased variability.

Right-Sizing Inventory for Financial GAINS

Dave Shrager, President of GAINS , emphasizes the cost implications of inventory management, stating, “The cost of inventory, especially the wrong goods, is higher than ever and impacting shareholder value in all industries where inventory matters.” By reevaluating inventory policies and leveraging GAINS’ platform, companies can strike a balance between goods sold, inventory investment, return on invested capital, and desired service levels.

Maria Marchesi, Senior Solution Advisor at GAINS , highlights the significance of making better finished goods and inventory control decisions amidst uncertainty. She emphasizes GAINS’ ability to rapidly deliver solutions that consider trade-offs and provide immediate results, helping companies navigate volatile market conditions. “These are difficult, complex, constant, and dynamic decisions to make; they require a lot of thought and consideration to get right and should be backed by reliable data and supported by advanced analytics. With the lack of a comprehensive inventory management process , businesses can make poor decisions without realizing the negative impact on their financials, customer retention, and loyalty rates, all while increasing discontent among the team in charge of the process.”

Moving at Your Pace

Implementing GAINS follows a pragmatic approach to supply chain management and the use of inventory management software. Companies can adopt the solution in phases, gaining incremental value and continuous improvement. Organizations can unlock the benefits of GAINS’ platform by right-sizing inventory investments and safety stock, automating optimization processes, increasing planning efficiency, and optimizing finished goods and work-in-process flow.

The advantages of the GAINS incremental approach for improved inventory forecasting and optimization are:

  • Minimized Disruption: Businesses can adopt the solution in stages instead of a complete overhaul, ensuring a smoother transition and reducing the risk of significant disruptions and physical inventory control.
  • Faster Time to Value : Companies can realize value and benefits sooner. Each implementation phase delivers incremental improvements, allowing businesses to see tangible results at each stage rather than waiting for a complete transformation.
  • Flexibility and Adaptability : Incremental allows course correction and fine-tuning, ensuring the platform aligns with your business’s requirements, stock level goals, and challenges.
  • Reduced Implementation Costs : Companies can allocate resources gradually, avoiding significant upfront costs associated with a full-scale implementation. This approach allows for better budget management and reduces financial risks.
  • Improved User Adoption : Incremental improvement increases user adoption and acceptance of the new platform. By implementing the solution in manageable stages, employees have more time to familiarize themselves with the platform, receive training, and understand its value. This approach reduces resistance to change and promotes a smoother transition.
  • Continuous Learning and Optimization : With incremental improvement, companies can continuously learn and refine their processes throughout the different implementation phases. This iterative approach enables businesses to identify and address safety stock challenges, optimize workflows, and adapt the platform to their evolving inventory management needs. It fosters a culture of continuous improvement and innovation.
  • Risk Mitigation: Businesses can mitigate risks associated with large-scale transformations. A phased approach allows companies to identify potential inventory or stock issues early on, address them promptly, and minimize the impact on overall operations.

GAINS offers businesses a pragmatic and adaptable path to gradual transformation, continuous learning, and improved outcomes while minimizing disruption, stock outs, and risks.

GAINS Supply Chain Planning Expertise

GAINS facilitates robust scenario planning, enabling companies to make data-driven inventory turnover decisions based on multiple potential outcomes. This foresight empowers businesses to effectively manage risks, respond to disruptions, and maintain supply chain resilience. Bill Benton, Co-founder of GAINS, highlights that manual processes and spreadsheets are no longer adequate tools for today’s interconnected and dynamic supply chains, emphasizing the need for sophisticated platforms like GAINS. He stresses the importance of inventory as a precaution against complexity , “Inventory, especially safety stock, is a hedge for managing complexity… And, it’s a key controllable lever that allows you to manage that risk and create higher levels of supply chain resiliency.”

As businesses continue to face disruptive events, adopting inventory management software solutions that continuously right-size goods become imperative. GAINS offers a comprehensive, cloud-based platform that equips companies with the necessary tools to thrive amidst uncertainty and optimize their inventory management practices. The future of inventory management lies in continuous evaluation, adaptability, and data-driven decision-making. With GAINS, businesses of all sizes can unlock the power of optimized goods, ensuring they have the right goods in the right place at the right time—no matter what challenges arise.

Download the Whitepaper “Making The Case For Continuous Inventory Right-Sizing” to learn more about GAINS, the proven demand, supply, and inventory level optimization platform that delivers ongoing cost and profit optimization to companies of all sizes.

Other Reading

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Managing Supply Chain Complexity: Benefits and Risks

Companies Turned to GAINS to Optimize Inventory and Transform Supply Chain Decisions