Planning and Forecasting
Fulfillment America offers robust business intelligence reporting to help our customers manage their inventory. Reports of budgeted against actual usage can be run at the district, region, or individual sales rep level.
Other real-time reports provide details about sales cycles, trends and seasonality and inventory levels for a specific account or marketing program. Many of our customers also take advantage of our system's ability to trigger alerts when minimum stock levels are reached, to control order quantities and allocate stock to specific user groups.
Preparing and structuring data so that it can be used by databases for business processes is called data modeling.
We maintain and archive all customer data, and this historical data is used for both forecasting and inventory management. Whether a customer's orders are seasonal or non-seasonal or whether they exhibit any trends; our forecasting methodology covers all these scenarios and projects future activity for that customer.
The budget or forecast numbers are compared against the actual numbers at the end of the forecast period and the variance analysis is performed.
Inventory Management – EOQ Model
We gather raw and unorganized data from various sources and then organize and process that data to produce forecasting. This structured and organized data is also used to estimate the Economic Order Quantity (EOQ) model, as shown below.
We calculate the lead times, economic order quantities, and reorder points for the customer's inventory. As soon the inventory level reaches the reorder point and automated e-mail is sent out as an alert.
An accurate calculation of lead times is very crucial as it prevents unnecessary stocking fee and prevents the delay in shipment because of low inventory as well.