An inventory report is a summary of items belonging to a business, or organisation. It contains a snapshot of current stock levels and the consumption of these items per day for each distribution centre that is to be replenished. TrueCommerce use the information provided within these reports to create and calculate an optimum/suggested level of replenishment for the distribution centre.
The recommendations are based on algorithms which use factors such as forecasts, frequency of sale, and velocity of sales. Ideally, these processes include:
- Periodic review and calculation of order points and order quantities based on movement data and special information such as promotions, seasonality, etc.
- Frequent comparison of on-hand inventory to order point and generation of recommended replenishment orders