Wholesalers, retailers and manufacturers around the world are facing the economic fallout of COVID-19. Many small-to-medium sized enterprises (SMEs) are in survival mode after delayed or dwindling sales, not being able to enter their premises for several weeks or having to pull the plug on major projects. Add changing lead times, other supply chain issues, and shifting consumer behaviour, and it can spell disaster for your cashflow. So getting out ahead by forecasting demand is essential for SMEs right now.
StockTrim: The business efficiency tool designed for SMEs
StockTrim understands managing your cashflow in a post-COVID world can be daunting. Discovering how to make the most efficient use of your time and money is crucial to maintain liquidity in the most challenging of times.
Five ways StockTrim helps your cashflow:
1. Overcome uncertainty to accurately forecast demand
Uncertainty around inventory planning can lead to significant overstocking, frequent stock-outs and many hours wasted.
StockTrim accurately tells you what products you need to order and when, by considering variable lead times and machine-led analysis on consumer demand. The result is you have enough inventory to manage demand without the inefficiencies of excess supplies.
2. Conserve cash and increase your profits
Tying up your capital in excess inventory is a waste of money and storage. But under-stocking can be just as disastrous - you miss out on sales and your disappointed clients will take their business elsewhere. SMEs operating in the current climate can’t afford to make either of these mistakes.
But you can save cash and increase your profits when you have optimum stock levels. For example, when you stop overstocking, you can save around 40% in working capital – on average StockTrim users save $750,000 per annum.
3. Automate processes and increase your productivity
Spreadsheets are unsophisticated, manual tools that increase the risk of human error. They are also very labour intensive and don’t scale well, so you waste time on inventory planning when you could be doing more profitable activities, like marketing or chasing leads.
StockTrim automates the demand forecasting and purchasing processes so that you reduce costly errors and make the best use of your time.
4. Cloud-based technology enables staff to work flexibly and remotely
Increasingly, business owners are giving their staff what they need to work remotely. To improve your cashflow and boost productivity, you could stop throwing money at under-utilised office spaces or spending hours in traffic every day.
StockTrim’s cloud-based service allows your back-office staff to work anywhere and its intuitive interface requires minimal training.
5. Reduce wastage: Gain real-time visibility across your entire inventory and raw materials
It may have once been a best-seller, but now’s not the time to stay attached to slow-moving or obsolete stock.
StockTrim gives you visibility over your inventory so you can make decisions based on facts. You may then decide to discontinue a product range, offer discounts or sales on slow-moving products, or invest your money and efforts in what’s selling well.
For manufacturers, oversight over variable lead times and your bill of materials is crucial to stay in control. StockTrim helps you minimise wastage and produce your high-quality products at a competitive turnaround, by ensuring you have all the raw materials you need in the right factory, at the right time.
StockTrim also integrates with your existing inventory management software and gives you continuous real-time reporting and oversight.
Join StockTrim today
Businesses will continue to feel COVID’s toll for some time yet.
Let StockTrim soften the blow and give you control of your inventory forecasting.
Join our free 14-day trial today.