Forecasting and Inventory Management Systems

Inventory is often a company's largest asset. Helping

our clients think about inventory strategically rather

clerically is the goal of F. Curtis Barry & Company's inventory forecasting and inventory management solutions. We assess a client's operation in terms of key measurements of inventory performance, evaluate reporting capabilities, assist in developing vendor compliance programs, and provide recommendations for change. Our assessments and audits include a complete review of the client's current inventory management software and processes and a best practice assessment.

Inventory management systems

Multichannel businesses seeking to improve their inventory management practices can rely on F. Curtis Barry & Company to assist with selecting an inventory management system that has the planning, forecasting, and inventory control functions and requirements needed to expand and manage inventory-related functions more accurately and efficiently.

 

We offer a wide range of inventory forecasting and inventory management systems.

We utilize our proprietary methodology to help clients select commercial inventory management software or to develop their own in-house software as needed.

We advise clients on how to increase customer service and profitability through reducing back orders and cancellations and improving inventory turns and GMROI.

We work with merchandisers and rebuyers to improve inventory forecasting, planning. and management, to reduce backorder costs and in-stock levels, and to develop consistent coverage with promotions across channels.

We provide consulting with regard to developing and enforcing vendor compliance programs for on-time delivery, product specifications, cost of backorders, retail vs. direct packaging and labeling; charge-back policies, accounting, and paperwork standards; as well as system standards for ASNs and cross-docking.

We help determine the optimal inventory level to increase sales without being seriously overstocked. This in turn improves customer service and profitability. 

For a number of clients we have developed analyses of: net contribution to profit for multiple seasons/year-to-year; pages; import vs. domestic; varying price ranges; price point; catalog page and depiction; category and sub-category; private label vs. open market; style, color, and size; Internet vs. catalog; new vs. repeat.

We develop requirements and sent out RFPs to vendors, assisted in vendor selection, and planned and overseen installation of commercial inventory planning and inventory management software for direct and retail businesses.

Inventory Management Benchmarking ShareGroups

Since 1996, F. Curtis Barry & Company has convened the Forecasting and Inventory Management Benchmarking ShareGroup. In a unique, non-competitive format, ShareGroup participants exchange information on metrics, service levels, and costs by company, along with best practices and critiques of members' sites.

Below are a few examples of the inventory management systems & solutions we have tailored for our clients:

Case Study 1

For a $1 billion multi-brand direct marketer, we reviewed all processes for merchandise planning, purchasing, inventory forecasting, and post-season analysis. We recommended major changes to improve the accuracy of the initial planning, the reduction of backorders, increased turnover, and analytical tools used to evaluate items and promotions. We worked with the IT staff to determine functions required to meet these objectives to manage and grow the client's business.

Case Study 2

F. Curtis Barry & Company assisted a $150 million direct and wholesale business with an assessment of all merchandise planning, purchasing, inventory control, inventory forecasting, and promotions and item analysis. We recommended changes to the client's processes and systems that allowed them to double in size and manage inventory in multiple distribution centers for their business. We also developed the requirements for inventory, planning, forecasting, and inventory control. We distributed RFPs, and assisted with selection of vendors, demos, and contracting for the final forecasting and inventory management system.

For more information on our inventory forecasting and inventory management system solutions, please contact our marketing manager Jeff Barry at (804) 740-8743, e-mail him at jbarry@fcbco.com, or fill out our Request Information form.

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