Inventory Management

Planning and design of the inventory system provides the organisational structure and operating policies for maintaining and controlling goods to be procured, produced and inventoried.

Forecasting and planning for inventory

A good inventory system is responsible for accurate and timely forecast for sales, ordering and receipt of goods, timing the order replacement and keeping track of what has been ordered, how much, and from whom.

GGA assists companies to analyse past sales trends, seasonal selling patterns and forecast future demand and consequently understand how much stock should be maintained in order to meet the production demands and be able to provide right type of material at right time, in right quantities and at competitive prices

Inventory classifications into categories

Classifying inventory as per value, need, seasonality, safety stocks, obsolescence etc can bring efficiency and optimize the use of the company’s warehouse space.

Organizing inventory by which items experience the highest usages, have higher sales demand etc.

Decide on the level of control for inventory management

It is important in inventory management to decide the level of control needed to realize the objectives of inventory management.

Level of control differs from organization to organization and it is upto the management to realize which technique of inventory control works best for them – defining minimum stocking levels, inventory replacement practises, reduction in carrying costs vis a vis procurement opportunities etc.

Tracking the existing inventory in the system

It’s important to know the exact number and cost of all the items you have in your warehouse, as well as how inventory is moving in and out of that warehouse.

Our solutions help businesses develop forecasts, track inventory across multiple warehouses, and identify inventory maximization and reduction opportunities

Conduct inventory counts to ensure accuracy

Physical verification of inventory assists companies to figure out the actual inventory present in the system, it catches potential problems and identifies shortages / inaccuracies in reporting or actual movements of inventory that could cause issues at a later stage.

GGA assists companies to identify the physical inventory system best suited to the industry and the product type.

Customer reconciliations

In case the customer account is not reconciled due to short payments, credit or debit notes, unapplied payments, discounts availed by the customers, other adjustments etc, the customer will be confused as to the actual amounts that are due for payment and the customer will always dispute the amounts due

GGA insists on timely and accurate client reconciliations for all customer accounts to ensure that customers and the company is aware of the actual amounts due and that all issues are identified and addressed at the earliest.