Forecasting and Inventory Management Software for the Consumer-driven Supply Chain Planning Solution

Effective supply chain management is help for businesses making the continuous office stalks into the business without any unnecessary interaction in the delivery and it is necessary for ensuring that the production process do not stop in definitely which may affect the customer services. The software helps in maintaining the good relationship with businesses suppliers and ultimately it help the good satisfaction for the customers who wants the product from the business owner and in this way the good fat goes long to ensuring dedicated to providing the best services.

Why Forecasting is Important?


For any business to run successfully, forecasting is very important so that we can balance the production and supply correctly. Suppose if an economy gets too much supply, it still has the reverse effect on the economy. In a way, the company also has its day effects because there is no demand, so to balance the demand and supply properly, it is very important for us to forecast so that we can estimate from the market how much demand is there for our product. You can also find it very easily like suppose you are going to sell the product, now try to sell this product in the market first and see how much demand is coming on that product and if that product is in demand Then you understand that what will be the market value is its market opportunity, but the product you want to sell in the market is not in demand, then how much manufacturing of this product you can be, you may not get success in that product. That’s why today there is a business in India. Any manufacturing company tries to forecast. Analyzes the forecast correctly so that the product it is going to make, the product it is going to manufacture will be in its market.

Why Inventory Management Software?

Managing items properly we need a better software to manage the buying and selling of goods properly, with the help of which we can easily buy goods and sell goods. We are able to find out why we need a better inventory management software that makes our job very easy, with the help of which we can easily find out what items we have right now, what items are there and how much We have already sold our goods, which we will have to buy by buying new ones, which have not yet been written, which we have yet to sell, which we have already expired, which we have to get out of our warehouse If we manage properly then we can easily complete all these tasks with the help of inventory management software, as well as removing our profit as to which product was produced, which product was purchased for how much. With the help of inventory management software, all these things were very can easily complete

The Best Planning, Forecasting and Management Software

Supply Chain Management: Supply Chain Management Software manager supply chain transaction and activity of data supplier relationship and any other related activity like processing of customer requirement Sourcing and management of suppliers and shipping. So we say that this supply chain management is a set of synchronous decisions and activities which is used and utilized to effectively integrate the supplier manufacturer Transporter warehouse retailers and customers so that the right product or services is distributed at the right quantity to the proper location and at the appropriate time in order to minimize the system wide cost while satisfying customer level requirement.

 Inventory Management: In Inventory management software provides tools for managing the availability of the stocks and raw material and it also helps to know the quantity of the material or product available in the stocks the features is very useful for predicting the future trends in the inflow and outflow of inventory.

Warehouse Management: The warehouse management software enables the management of all the activities which is taking place in the physical warehouse for goods and analyses of the various aspects such as storage space and labor and various other factors.

Demand Planning and Forecasting Software: Demand planning software allows the organization to minimize wastage by tracking Trends that will affect the future Trends. In this type of system accomplish the task by forecasting governance in order to eliminate errors or the bias which is available in the data and it also helps by reducing data latency which helps to manage the real time demand planning possible.

logistics: logistics helps the supply chain management software and it also creates the space for future expansion of the businesses in the respective field it eliminates the need of acquiring a new one which may cause some downtime in the businesses and some uptown in the businesses and it also helps the transportation of the inventory product from one place to another.

Sourcing and Supplier Management: The Sourcing and supplier management software offers the tools to help in identifying the the valuable supplier and it also helps working with them and this software air also helps to maintain a good brand and relationship by balancing the servicing and supplier management.

Customer Requirement Process: The customer requirement process involves the complete analysis and seen to the requirement of the customers by overseeing operations which involves from the arrival of the raw material, the processing of the material and delivery of the final products, and it also help the return management which helps the monitoring of and returns of the demanded goods and over as the processing of the refund and it also helps for checking and initializing any insurance claims. So analyzing all the things and intelligence of analysis of any problem and finding their cause as well as provide suggestion for the risk management is also done using software.

Best Supply Chain & Inventory Management Software

Inventory Management SoftwareProduct/Features/ServicesFounded and Headquarters
1. Silvon (Best For Business Intelligence software solutions)Packaged BI, Planning & Forecasting, Sales Performance, Inventory Performance, Customer Performance, Supplier Performance, Marketing Performance, Manufacturing Performance, Financial Performance 1987 (Westmont, Illinois, United States)
2. John Galt (Best For Supply chain and Forecasting) S&OP,Demand Management,Inventory Planning,Collaborative Planning,Supply Chain Analytics,Supply Management,Sales Forecasting,Financial Planning,Forecast-ability Analysis,Machine Learning,Demand Planning1996 (Chicago, Illinois, USA)
3. Scout (Leading Cloud based Inventory/Warehouse Application)Inventory integrity & control, product accuracy & validation, wireless barcode scanning, seamless multi-channel integration, order management, accounting integration, demand forecasting, picking, and shipping2002 (Minnesota City, Minnesota, United States)
4.inFlowInventory (Best For item based business) Manage Inventory, Purchasing and Receiving, Barcoding, Reporting, Manufacturing, Integrations & API, Sales and Invoicing, Get real work done right from your smartphone, Take B2B orders online–without a separate store, Warehouse, Assembly and BOMS, Asset Tracking, Field Service Track tools and materials. 2005 (Canada)
5. XY Retail (Best for omnichannel brands and retailers)Business Intelligence,Point of Sale (POS),CRM and Clienteling,Integrated Ecommerce,Shipments and Fullfillment,Email Marketing,Inventory Management,Order Management,Merchandise Management,Payment Processing,POS Security,Warehouse Management,X/Y Connect2018 (New York, United States)

Forecasting, Inventory and Supply Chain Company You Need to Know

1. Silvon: Silvo software provides designs and develops software. And the company also offers analytic application, ERP software and data management utility to provide end-to-end and software solutions for manufacturers and distributors. Silvon software includes the application for analyzing the large volumes of data which is related to customer relationship and Management and also includes the inventory performance, marketing performance, manufacturing performance, profitability, sales performance and supplier relationship management.

2. John Galt: John Galt solution is a software company provides the forecasting and supply chain management software. John Galt solution provides forecasting and supply chain planning solution to increase forecast accuracy and enhance collaboration. John Galt solution provides cost effective business forecasting, demand planning, inventory planning , sales and operations planning and along with this John Galt provide the supply chain planning and demand management.

3. Scout: topShelf is a cloud-based inventory management software that mainly uses smartphone, tablet, mobile Barcode scanner and seamlessly integrate with the software application for managing the cloud based warehouse.Scout is a leading cloud based inventory and warehouse application software provider for managing The E-Commerce, distribution and manufacturing businesses.

4. inFlowInventory: inflow inventory software is an inventory system which is helpful for all of the small and mid size businesses for handling managing and handling the sales purchase and inventory management and control. inflow also help the businesses to track inventory take customer orders reorder stock and generate reports and much more. inflow is designed to run and manage the item based businesses and it is suitable for all of the wholesalers, distributors, retailers, manufacturers and online sellers.

5. XY Retail: XY retail transform the Retail Industry by use of data to solve the existing and imminent challenges. The XY Retail cloud based enterprise platform helps the brands and retailers to manage their customers, channels, products,inventory and many more. And it also helps to gain operational excellence, protect margins and improve customer experience.