Inventory Management Software
SMART by GEP has been designed to cater to the demands of the most complex global supply chains. Equipped with a digital inventory management system, the AI-based platform manages inventory across the supply chain in real time, monitors stock levels and supplier performance, sends out restocking alerts, generates smart replenishment orders based on recommended or preset inventory levels, and forecasts demand; helping enterprises optimize their inventory and minimize costs.
SMART by GEP’s direct materials inventory management functionality makes use of sophisticated artificial intelligence to unify the complete range of inventory management activities — requisition/replenishment, purchasing, packing, payments and shipment tracking, among others — into a single platform, ensuring seamless data and information flow for all involved.
End-to-End Visibility of Direct Materials Inventory, Enabled by AI
Wherever your inventory is — on-order, in transit, or in a warehouse — SMART by GEP inventory management software can easily track it by combining updates from supply chain partners with real-time IoT data.
Some key benefits of the SMART by GEP inventory management system include:
- Improved order accuracy and ETAs, minimizing “out-of-stock” situations
- Improved lot and batch control
- Ability to analyze stock demand, how quickly it’s moving, etc.
- Increased supply chain velocity
- Ensured customer satisfaction
- Actionable insights that help managers make informed decisions
Comprehensive Direct Materials Inventory Management Capabilities
SMART by GEP helps you manage all your inventory on a single platform — from creating unlimited tabs for product information, to live inventory tracking and sending low-stock alerts. The software helps to:
- Manage inventory in internal stockrooms or with suppliers
- Categorize products (as per expiry dates, usage trends, etc.)
- Provide in-context analytics and insights
- Audit your inventory with cycle counts, periodically or yearly
- Create community benchmarks and insights
- Generate stock enquiries
Improved Order Processing and Stockroom Management
SMART by GEP inventory management software analyzes the reorder point (the number of units that should trigger a reorder), order quantity (the number of units to be reordered), and stock cover (the number of days to stock-out based on current inventory). Set minimum stock limits to trigger an automatic reorder and ensure there’s no stock-out, ever.
SMART by GEP lets you effectively manage non-inventoried requests alongside your stocked items, based on your ERP, MEP and IoT data. The platform’s AI-powered auto-ordering capabilities help to process orders from approved suppliers efficiently and quickly, which minimizes stockouts. The warehouse inventory management software also helps you easily identify, respond to and process orders. What’s more, it helps requisitioners shop from internal stockrooms and immediately find out if the product is available. You can manage stockrooms across various locations through a single interface.
Vendor Managed Inventory (VMI)
SMART by GEP procurement software supports Vendor Managed Inventory (VMI) — it helps vendors to plan shipping and production dates in advance to minimize stock-out risks. You can set stock thresholds and notify vendors each time stocks fall below minimum inventory levels. SMART by GEP’s supplier simulation functionality also helps vendors see what impact different stock levels will have, which helps them plan more efficiently.