Planning Solutions for Wholesale Distribution and Retail Industries: Challenges and Opportunities
The Internet has brought about a paradigm shift in wholesale and retail industries. Due to speedy innovation and rising on time in full (OTIF) requirements on products, the competition has toughened for supply chain professionals.
Ensuring the right product in the right place at the right time is challenging. Also, wholesale distributors and retailers face the following issues:
- High Inventory Levels: High warehouse maintenance and product obsolescence cause capital loss
- Stock Unavailability: Unavailability of products negatively impact customer satisfaction and cause lost sales
- Low-Profit Margin: Wholesalers and retailers lack the capability to optimize the forward buy opportunity for discounts/incentives offered by vendors to move products
- Internal Transfer: Wholesalers and retailers purchase from vendors instead of directly transferring goods from other warehouses, causing overstock and product obsolescence
The Solution
New Horizon employs proven forecasting algorithms using machine learning and AI technology to enable accurate demand anticipation. It provides quick feedback on products sales and explains customer behavior. Such cloud-based planning helps you manage the supply chain, facilitate prompt response, exhibit customer-centricity, and improve business performance.
At New Horizon, our in-house cloud solution, Buyer’s Workbench, works in tandem with our Demand Forecasting System to generate customized inventory and procurement plans. These plans meet vendor requirements, optimize procurement margin, and reduce overall inventory while achieving the highest standards of customer satisfaction.
Our unique Buyer’s Workbench tool:
- Automatically recommends purchasing orders meeting vendor requirements
- Optimize Full truck load to minimize transportation costs
- Maximize ROI for investment purchasing opportunities