How to optimise min max stock levels in 2 minutes: Unleashed Inventory Management Software Demo

If you’re manually calculating min and max levels for all your different products, you’ll know how time-consuming that is. So in this video we show you a better way.

This is Unleashed software's Advanced Inventory Manager – or AIM module – and one of the things it does is it automatically calculate the right safety stock and reorder points – as well as ideal maximum levels – for all your different products. And that’s a huge help in avoiding both stocks outs and over stocking

What you’re looking at here is a list of all the products held in one particular warehouse.

You can see all the different product names here and their product codes, and over here I have current quantities for each item – as well as their current min and max levels.

Now that minimum level in particular is important, because when my stock drops to that point, it triggers a low stock alert in my reordering workflow.

Now as you’ll know, there’s a bit of a science in working out an optimal reorder point for each item.

We need to know how much of each product we use up each day – as well as how long it takes to get to us, once it’s ordered.

So the rate of use – and the lead time

And unfortunately, that’s going to vary for every product in my warehouse – which makes it challenging to update those levels. For example those numbers will need to change if I’m selling much more of one product – or less – or if my lead times are getting longer, or shorter.

That's where the right software is a big help. So I’ll you show you how we do that in Unleashed.

What I’ll do is I’ll set my rate of use up here to ‘days’ and ask for just the last 3 months of data. That’s going to give me really up to date info on both my lead times and my consumption.

Over here I’ll use a Just in Time strategy, and check this box so that new lead time data replaces any old data I might have in there. And I’ll add some buffers – let's say, 7 days of spare stock, just in case.

I hit calculate – and you can see that down here, each product now has a new, unique minimum and maximum stock level that’s based on real world data.

As you can see that’s very fast - and when I hit ‘submit’ those new stock controls are updated in my reordering workflow.

So just like that I’ve now reset my minimum and maximum stock levels for all those products in my warehouse, which will help me avoid those stock out situations – without buying more stock than I actually need.

Now, that’s a very short demonstration of a smart way you can manage your safety stock & reorder points – as well as your ideal maximum stock levels. It’s just one of the many ways that Unleashed improves inventory management across your whole business. So if you’d like to see more, we have additional videos here – or you can simply start a free two week trial of Unleashed.

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