Inventory analysis? In addition to insight into current stock levels in CORAX, you can set up a scheduler ensuring an overview of the stock that is generated per customer and distributed by email every day. Additionally, you can set up automatic notifications and receive emails when an item or location is blocked in CORAX. Notifications can also be set for items that have expired according to the Bbest before date. With Power BI, extensive inventory analyses can be generated.
What Is Inventory Analysis?
Inventory analysis is a comprehensive process that allows you to adequately monitor and manage your stock, which lends itself to the efficient fulfillment of customer orders. It is always good to have people use your business for their purchases, but your reputation can take a hit if you always seem to be out of something else.
Low ordering is one problem, but heightened ordering is another. The other extreme also becomes a problem without proper inventory analysis. When you bring in too much of something that is already in the warehouse, likely, you are not going to achieve the kind of inventory turnover percentages that you are after.
Additionally, you allow for wastage, which is one of the biggest enemies of inventory management, to creep up on you. At that point, things begin to get counter-intuitive to your profitability margin. You always need to be on top of things where inventory analysis is concerned, which is why a stellar WMS is a staple.
Can CORAX Provide Relevant Inventory Insights?
The CORAX software design lends itself to next-level inventory analysis, to provide you with adequate insights into your current stock levels. That alone is enough to help you in making informed decisions on how to manage stock levels more effectively.
However, there is more. With CORAX, you can implement a scheduler system, which does a stock overview per customer that is distributed via email daily. Furthermore, you can use automatic notifications and email alerts, which can indicate when items or locations are blocked, so no surprises can throw you off in that regard.
Even expired items are a part of the inventory analysis process in the CORAX system. As the platform retains production dates and best before dates upon warehouse entry, that information can be used to help with ensuring that the stock present in the warehouse is consistently fresh. Additionally, thanks to a Power BI integration, the reports generated to give you all the data you need and more.
How Easily Understandable Is the Data from CORAX?
Power BI is one of the most powerful, accurate, and useful tools that has ever been created from a reporting standpoint. It is no surprise then that it was the platform of choice for CORAX report integrations. Truthfully, with all the product flow and processes in the warehouse, much of the data generated would be too complex and not formatted to show the relevant insights.
With Power BI in the mix, all that changes. The best way to think about this is that power BI takes the raw data, processes it, and yields aesthetically pleasing and easily understandable reports and dashboards that tell you exactly what you need to know with a single look.
There are custom views that help to achieve this, and they make for granular potential, which you can use to check the smallest details at an item level. With all of this in mind, you can rest assured that whatever data you get from the WMS is not only going to be understandable but is also going to prove useful for your inventory analysis process.
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