Inventory Management Outsourcing

Inventory Management is a key functionality when it comes to retail businesses – no matter the scale. Inventory management is said to be efficient when a company has a complete track of what they have in stock, where they have it, in what quantities and how much they’ll need. That’s where inventory management outsourcing comes into the picture.

Proper inventory management can help you prevent stock-outs and improve supply efficiency. It also helps in preventing over-stocking and thus in saving inventory carrying costs.

We at YRC provide end-to-end inventory management services with a focus on the following functions:

Inventory Planning

Just reading the current market trends is not enough. There is a strong need for your company to be able to foresee the future and plan inventory according to it. Outsourcing inventory management decisions include “forecasting” which is an important activity that helps outline strategic and core decisions in the supply chain. 

Timely and accurate supply chain forecasting can help in reducing warehousing and inventory carrying costs, transportation and logis- tics costs as well as help boost customer satisfaction and loyalty. Of course, a lot of expertise goes into this forecasting analytics which includes a comprehensive analysis of consumer demand trends, and many geographic and microeconomic factors.

Our team uses updated technology, forecasting tools and algorithms to ensure that the supply chain becomes more agile, the lead time is adequate to avoid stock-outs, inventory costs are minimal and a healthy bottom line is maintained.

Inventory Optimization Services

There are many tested inventory management techniques that make a company resilient enough to be able to respond to unexpected fluctuations in consumer demand. This is done without compromising on service quality. By using demand signals that are time- phased and Just In Time (JIT) methods, we can help improvise supply efficiency and deliver excellent service.

W+e also help in improving inventory cost accounting, streamlining credit management and improving cash flows to increase working capital that’s otherwise stuck in inventory. 

Supply Chain Diagnostics

The initial stage of any supply chain reformation project involves analyzing and understanding your current position and then assessing where you want to be in the future. To figure out that, you need intensive and accurate supply chain diagnostics. This diagnostics must be all-encompassing, objective, executable and quantitative – enabling a focused analysis of the performance of your existing supply chain.

The initial stage of any supply chain reformation project involves analyzing and understanding your current position and then assessing where you want to be in the future. To figure out that, you need intensive and accurate supply chain diagnostics. This diagnostics must be all-encompassing, objective, executable and quantitative – enabling a focused analysis of the performance of your existing supply chain.

Supply Chain Data Management

As everything today is largely data-dependent, so are supply chains. It is essential to properly track, record and manage supply chain data to make the correct decisions and optimize supply chain performance. We at Your Retail Coach offer holistic solutions with respect to data management in supply chains as well as the core product, vendor management, cataloguing, contract or logistical data.

Logistics Management

Logistics plays an important role in ensuring a seamless supply chain and distribution network. But your retail business has many other core functions to worry about – customer satisfaction, check on market volatility, profitability etc. Thus, outsourcing the logistics function can prove to be equally cost-effective as it is operationally efficient compared to when it’s done in-house.

We can help with smooth logistics services that help optimize inventory, reduce warehousing overheads, improve customer satisfaction and improve profitability. We also help you strategize the freight route, select the most suitable carrier, schedule and tender shipments, ensure that compliance, documentation and regulations are met and invoices are generated subsequently. We have overall expertise, and we deal across all modes of transport be it air, rail, road and sea.

Network Optimization

When it comes to network optimization in the supply chain, we can help in determining the costs and advantages of adopting a company’s complete network in retaliation to new changes. Besides solving the problem of service quality levels and high working capital, we can also help in aligning the network optimization programs in-line with long-term business objectives and support in implementing them independently.

The main benefits that are targeted through supply chain network optimization are

1. Improvement in the supply chain flexibility
2. Control over inventory levels (raw materials, work in progress and finished products)

3. Reduction in supply chain costs with respect to production, distribution, transportation, logistics documentation and working cap- ital costs.

4. Improvement in the profit margin 5. Improved tracking and evaluation of business and environmental (both internal and external) changes that have an effect on the supply chain

The role of inventory management as a business function cannot be overseen. However, managing it in-house may result in operational inefficiencies and high costs. Outsourcing is the answer. We are a solution-driven business consulting firm that can help with Out- sourcing inventory management decisions and e-commerce inventory management.

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