When it comes to inventory planning, using a spreadsheet is about as sophisticated and reliable as gazing into a crystal ball. Most businesses have moved away from spreadsheets for their accounting, customer relationship and workflow management, and with good reason. Yet even established global organisations are still relying on spreadsheets for one of their most critical functions: making sure their inventory is not understocked or overstocked, but just right.
With artificial intelligence having a massive rise in popular culture over the past couple of years, conjuring up sci-fi images of intelligent robots taking over the world, cars that drive themselves, speculation that all our jobs will be made redundant, and so on, one question is – what can artificial intelligence really do, and can businesses actually use this technology today?
We often get inquiries off our website asking why StockTrim is superior to other inventory forecasting tools available.
In a nutshell – Inventory Management deals with what you have, Inventory Forecasting deals with what you should have.